Anish Acharya

And it was true.

And it was true.

Because even if they got 100x more value, they typically didn't pay 100x more.

Because even if they got 100x more value, they typically didn't pay 100x more.

Like you look at Spotify, great European company, the very best Spotify SKU with the highest bit rate music, totally lossless, all the pods, all the videos, family plan, everything was $20, $25 a month.

Like you look at Spotify, great European company, the very best Spotify SKU with the highest bit rate music, totally lossless, all the pods, all the videos, family plan, everything was $20, $25 a month.

So there is a belief that the price ceiling for consumer products mass market was $20 to $25 a month.

So there is a belief that the price ceiling for consumer products mass market was $20 to $25 a month.

You look at Grok Heavy, it's $300 a month.

You look at Grok Heavy, it's $300 a month.

ChachiBT, $200 a month.

ChachiBT, $200 a month.

Gemini Ultra, $250 a month.

Gemini Ultra, $250 a month.

So we're seeing 10x higher prices paid and you have consumption revenue on top of it.

So we're seeing 10x higher prices paid and you have consumption revenue on top of it.

So for the power users, they're paying incredibly high subscription rates plus consumption revenue.

So for the power users, they're paying incredibly high subscription rates plus consumption revenue.

So the S&M costs of acquiring those users are very wisely invested.

So the S&M costs of acquiring those users are very wisely invested.