L + hardware is cheap + software is expensive + ratio
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Is software expensive per user tho
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Sure but the growth past that is incredible.
I’m genuinely not sure but it’s not a forgone conclusion imo
Scaling way past 10x.
If we look at only software companies and their revenue per user (Facebook is a good choice for me) and compare it to the amortized cost of an iPhone then it might come close to even
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