Reid Hoffman

Not a question to answer right now because we're in a software business. We don't have... These capital hard assets, even though they're being rented and transacted in it, that's not on our balance sheet. What we just need to do is get this to scale and be the growing marketplace of that. And we'll figure out operating margins later.

And this is one of the things that Silicon Valley has learned more intensely than anywhere in the world other than maybe China. China is one of the few areas where I've also learned blitzscaling games. And it's one of the reasons why when you look at Silicon Valley for the tech industry, the whole population of Silicon Valley Bay Area is like three and a half million. That's like Ireland.

And this is one of the things that Silicon Valley has learned more intensely than anywhere in the world other than maybe China. China is one of the few areas where I've also learned blitzscaling games. And it's one of the reasons why when you look at Silicon Valley for the tech industry, the whole population of Silicon Valley Bay Area is like three and a half million. That's like Ireland.

And this is one of the things that Silicon Valley has learned more intensely than anywhere in the world other than maybe China. China is one of the few areas where I've also learned blitzscaling games. And it's one of the reasons why when you look at Silicon Valley for the tech industry, the whole population of Silicon Valley Bay Area is like three and a half million. That's like Ireland.

And this is one of the things that Silicon Valley has learned more intensely than anywhere in the world other than maybe China. China is one of the few areas where I've also learned blitzscaling games. And it's one of the reasons why when you look at Silicon Valley for the tech industry, the whole population of Silicon Valley Bay Area is like three and a half million. That's like Ireland.

And this is one of the things that Silicon Valley has learned more intensely than anywhere in the world other than maybe China. China is one of the few areas where I've also learned blitzscaling games. And it's one of the reasons why when you look at Silicon Valley for the tech industry, the whole population of Silicon Valley Bay Area is like three and a half million. That's like Ireland.

But that's, of course, what the size of your operating margins are, is how valuable your business is. And when you get to the operating margins will be when people start valuing your business more. And you're like, so that's a very counterintuitive thing you say. No, no, no.

But that's, of course, what the size of your operating margins are, is how valuable your business is. And when you get to the operating margins will be when people start valuing your business more. And you're like, so that's a very counterintuitive thing you say. No, no, no.

But that's, of course, what the size of your operating margins are, is how valuable your business is. And when you get to the operating margins will be when people start valuing your business more. And you're like, so that's a very counterintuitive thing you say. No, no, no.

But that's, of course, what the size of your operating margins are, is how valuable your business is. And when you get to the operating margins will be when people start valuing your business more. And you're like, so that's a very counterintuitive thing you say. No, no, no.

But that's, of course, what the size of your operating margins are, is how valuable your business is. And when you get to the operating margins will be when people start valuing your business more. And you're like, so that's a very counterintuitive thing you say. No, no, no.

we'll take the risk on wherever our operating margins will end up because getting the scale more quickly and fast and taking experiments with like, for example, what you're doing in marketing, what you're doing in hiring, what you're doing in product development, we'll just try it and we'll iterate and move quickly and we'll abandon the things that aren't working.

we'll take the risk on wherever our operating margins will end up because getting the scale more quickly and fast and taking experiments with like, for example, what you're doing in marketing, what you're doing in hiring, what you're doing in product development, we'll just try it and we'll iterate and move quickly and we'll abandon the things that aren't working.

we'll take the risk on wherever our operating margins will end up because getting the scale more quickly and fast and taking experiments with like, for example, what you're doing in marketing, what you're doing in hiring, what you're doing in product development, we'll just try it and we'll iterate and move quickly and we'll abandon the things that aren't working.

we'll take the risk on wherever our operating margins will end up because getting the scale more quickly and fast and taking experiments with like, for example, what you're doing in marketing, what you're doing in hiring, what you're doing in product development, we'll just try it and we'll iterate and move quickly and we'll abandon the things that aren't working.

we'll take the risk on wherever our operating margins will end up because getting the scale more quickly and fast and taking experiments with like, for example, what you're doing in marketing, what you're doing in hiring, what you're doing in product development, we'll just try it and we'll iterate and move quickly and we'll abandon the things that aren't working.

And yet, the number of global tech companies that come out of Silicon Valley versus anywhere else in the world, and to some degree, including China, because we're talking global here, although there's obviously ByteDance and TikTok and so forth, is just enormous. And why is that? And the answer is because This hyper-competitive game of blitzscaling is something that we have learned to do.

And yet, the number of global tech companies that come out of Silicon Valley versus anywhere else in the world, and to some degree, including China, because we're talking global here, although there's obviously ByteDance and TikTok and so forth, is just enormous. And why is that? And the answer is because This hyper-competitive game of blitzscaling is something that we have learned to do.

And yet, the number of global tech companies that come out of Silicon Valley versus anywhere else in the world, and to some degree, including China, because we're talking global here, although there's obviously ByteDance and TikTok and so forth, is just enormous. And why is that? And the answer is because This hyper-competitive game of blitzscaling is something that we have learned to do.

And yet, the number of global tech companies that come out of Silicon Valley versus anywhere else in the world, and to some degree, including China, because we're talking global here, although there's obviously ByteDance and TikTok and so forth, is just enormous. And why is that? And the answer is because This hyper-competitive game of blitzscaling is something that we have learned to do.