> Costs don't scale linearly with pageviews. Nor do donations,
> especially when you consider that much of that growth in pageviews now
> comes from the 'Global South' (where people generally have less
> disposable income to donate) and from mobile devices (which we don't
> really fundraise on, although I believe this is something WMF wants to
> work on next year).

This very reasonable sounding theory is contradicted by measuring the
actual data at http://wikimediafoundation.org/wiki/Special:FundraiserStatistics

I have heard so many reasonable sounding theories from Foundation
staff who refuse to measure the corresponding data over the past year
that I am beginning to wonder whether I should compile them for
publication.

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