Daniel Ek

But even at scale, if you think about it, is the cost increasing or decreasing?

And if you think about, you know, right now, obviously AI will come in and it will be massive.

But I think at one point in time, Facebook or now Meta had over 100,000 content moderators actually working for them.

100,000?

I believe so.

Yeah, for sure.

And even today, if you think about it,

So, all right, well, maybe that's not 100,000 anymore because they've been able to automate some of that process.

But it's kind of mouse game as well.

So the other side is now using quite sophisticated AI.

They use open AI too.

Yeah, exactly, to do that.

And that means that your AI models has to be a lot more, you know, sophisticated.

And that still adds cost.

So I think the best case scenario, I was looking at this, this is very old data, but I believe at the time of Facebook's IPO, it was something like the cost for Facebook to onboard a user was like a dollar a user or something like that in like hardware costs and all that stuff, basically to have lifetime value of a customer.

And so at that time, obviously the monetization wasn't as advanced.

So that was what was burning cash for quite a while.

And then eventually their growth rate probably slowed down enough where their monetization started kicking in and kind of scaled up enough where those two effects kind of took out each other and they became very profitable.

But if you look at it now, I don't know what the cost would be, but if I would guess, if I would start a social media company today,

the cost may be an order of magnitude more, right?