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> it's a company with 4.5B in revenues in H1 2025

That's a lot of money to be getting from a subscription business and no ads for the free tier

Not hard to see upside here



It’s when they are losing four times as much. Are their marginal costs per subscriber even positive?


Yeah, how much profit will they make if they're able to go for-profit? Revenue doesn't tell me anything.




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