Albert Wenger

Um,

And so much of the kind of trajectory of Twitter evolved over time.

And I think today, if you look at the investments we've made in the last few years, the vast bulk of those revolves around subscription businesses, where we think the incentives between the company and the end user are actually aligned, right?

So if you are a subscriber to Skillshare, for example, Skillshare doesn't want to present

third-party ads to you.

And Skillshare wants to make sure that they produce awesome content so that you're happy as a subscriber.

And subscription model has another incredible advantage, which means your marginal consumption is in text.

So if you want to watch another Skillshare class, great.

Just go ahead.

You don't need to pay more.

And so a lot of our portfolio has transitioned to this model as we've come to understand the problems with the other models.

Yeah, so I basically think that all these systems need to become programmable.

They all need to have APIs.

And in a way, that's going slightly backwards because, as I said before, at one point, Twitter had APIs and anybody could build a Twitter client.

So I believe that anything you can do in an app, you need to be able to do programmatically.

Anything I can do in the Twitter app, I need to be able to do through a program.

Anything I can do in the Facebook app, I need to be able to do through a program.

Now, obviously, that would allow me to create clients that strip out all the advertising.

And so I think companies will need to charge for the APIs.

And that also needs to be regulated so that they can't make the API access prohibitively expensive.