Science Memes

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submitted 3 weeks ago by [email protected] to c/[email protected]

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[–] [email protected] 15 points 3 weeks ago (2 children)

Why are we looking at revenue? We don't know the operating costs. What are the profit margins?

[–] [email protected] 24 points 3 weeks ago (1 children)

According to Wikipedia, in 2022 Elsevier's revenue was 2.909 billion pounds and their net income was 2.021 billion pounds.

Not going to bother looking up the rest.

[–] [email protected] 8 points 3 weeks ago

There's a much more accurate stat... and it's disgusting

[–] [email protected] 3 points 3 weeks ago (1 children)

Alright but look at how much they pay the authors. What other business pays ZERO dollars for their core product?

[–] [email protected] 1 points 3 weeks ago (1 children)

None, but science isn't a business. Treating it so creates perverse incentives where an articles is reviewed by merit of its financial gain and not its content. Some people already do this by prestige alone, but adding money to the mix won't improve this imo

[–] [email protected] 2 points 3 weeks ago (1 children)

So it's acceptable for Elselvier et al to milk academics blind? At the minimum, authors should not be charged.

[–] [email protected] 1 points 3 weeks ago

No, but ideally all publishers should operate not-for-profit, and yep submission for open access should not cost ridiculous fees.