2026-07-21
41 分钟You and I lived through a couple of bubbles.
We've seen this movie before.
And this wave seems very different than the dot-com wave.
So let's talk about that.
Are you concerned about a bubble?
We're seeing bubbly-like behavior people.
It's not the traditional dot-com bubble, right?
Because back then, there were companies going public, getting crazy valuations, and people are buying them.
And the stock would go up 50%, 100% with companies that had no revenue, no traffic, no nothing.
And you'd go get a cab back then, and people would be talking about them.
Yeah.
And you don't you don't see that at all today.
So it's not a bubble that's going to impact most people in the room.
Right.
Or most people across the U.S.
But it could just destroy a lot of VCs and a lot of funds and a lot of PE.
Right.
Because they're going all in.
AppLovin started with an $8 domain and no VC funding and became one of the largest ad platforms in the world.
Now that same engine powers AppLovin ads for e-commerce.