Company Restructuring and Strategy - Yahoo underwent a significant restructuring after spinning out of Verizon in September 2021, including re-establishing the company, restructuring operations, bringing in a new team, and redoing the revenue model [2] - Yahoo refocused on its original mission as a trusted guide to the internet, leveraging its history dating back to 1995 [6] - Yahoo's monetization strategy shifted to directly selling premium ads and re-establishing a salesforce, while also moving into subscription and leaning back into search [3] - Yahoo is partnering with almost every LLM and has launched AI products across its various platforms, including Yahoo Mail, Fantasy Sports, Finance, and News [25] M&A Activities - Yahoo sold assets like TechCrunch and Rivals, focusing on its news aggregator app [8] - Yahoo acquired Artifact, a news app founded by Instagram founders, to enhance its news aggregation capabilities [7][8] - Yahoo is open to M&A for adding verticals but hasn't found the right deal, particularly after considering frothy prices post-COVID [31][32] Competitive Landscape and Market Position - Yahoo competes with various companies in different verticals, leveraging its multiple properties [13] - Yahoo is still a top-five traffic property in the US and globally, even among Gen Z [12] - Yahoo emphasizes its first-party relationship with users, with 75% of impressions from logged-in users, leading to better conversion rates for advertisers [20] Advertising Market and Performance - Yahoo is seeing growth despite market challenges, attributing it to its turnaround and rebuilding efforts [17] - Yahoo's ad sales strategy includes direct sales and leveraging its DSP, competing with Trade Desk, Google DB3, and Amazon [14][15] - Yahoo announced a partnership with Netflix to add Netflix CTV inventory to its DSP [14][15] Future Plans - Yahoo is considering going public again, but is taking its time to improve valuation [33][36] - Yahoo believes AI will significantly change its products and is focused on being pro-publisher in the AI search framework [28][29]

KOL Activities & Monetization - KOL criticized small InfoFi accounts [2] - KOL allegedly engaged in paid posts after criticizing others' monetization attempts [1] - The industry questions the double standard of KOLs criticizing small accounts for monetization while engaging in similar activities [1] Industry Criticism - The industry suggests @KaitoAI farming is responsible for low-quality content on the timeline [3]

We'll see how this one ages.30deae7e3a139b21f2bf55e8ae19d1c827a692afea0eb3c6a51281fe1687d811Outcome should resolve this week, so we won't have to wait too long. Lesson embedded in it this time as well.Someone is going to figure out how to monetize these on a right/wrong or some other basis and it's going to be a fun vertical ...

Pricing Principles for AI Products - Pricing is a form of friction that can either enable or prevent product adoption, requiring careful consideration of value delivery and target audience [2] - Traditional pricing principles emphasize simplicity, value signaling through willingness to pay, and margin protection [8] - AI native pricing prioritizes predictability for mature companies needing to budget, speed for early-stage products, and adapting to variable costs [10][11][12] Key Considerations for AI Pricing - Audience understanding is crucial, considering their buying journey, value expectations, and decision-making processes [15][16] - Packaging and pricing tiers influence user perception and incentives, shaping how users interact with the product [18][19] - Margin structure should focus on axes of scaling and flexibility to experiment, rather than fixed margins due to rapidly changing underlying costs [13][14] Strategies for Margin Management and Flexibility - Differentiate through R&D innovation and pass technical advantages to users as pricing leverage [23][24] - Implement rate limits or guardrails to prevent degenerate workloads and incentivize reasonable usage, rather than linearly scaling costs [25] - Incrementally evolve pricing in response to R&D investments, aligning monetization with the perceived value by end-users [30][31] Future Trends in AI Agent Pricing - Expect continued price wars and a move towards effectively unlimited plans with caps and guardrails [36][37] - Outcome-based pricing will become more prevalent, requiring clear definitions of success and measurable SLAs [37][38] - Real-time visibility, spend management, and balance alerts will become more sophisticated, offering users greater control over spend [38][39][40]

Monetization is the permanent increase in the monetary base to fund the government. Central banks buy interest-bearing debt with non-interest-bearing money. https://t.co/8CKfWw7Wmm ...

I'm a full time value investor and writer who enjoys using classical value ratios to pick my portfolio. My previous working background is in private credit and CRE mezzanine financing for a family office. I'm also a fluent Mandarin speaker in both business and court settings, previously serving as a court interpreter. I have spent a good chunk of my adult working life in China and Asia. I have worked with top CRE developers in the past including The Witkoff Group , Kushner Companies, Durst Organization and ...

Welcome back. Take a look at Cheers of Meta. They are hired this morning.This after the company announced it was taking a step to bring ads to its WhatsApp platform, specifically in the updates tab that will separate the advertisements from personal conversations. Now, this move comes 11 years after Facebook acquired WhatsApp. If you recall, it was a $19 billion deal.Then, Meta also says it will monetize WhatsApp's channels feature through search ads and subscriptions. And the market does seem to like the p ...

Financial Data and Key Metrics Changes - The company has a long-term view on inflation and interest rates, expecting them to remain higher for longer, which aligns with historical trends [4][5][9] - The company has $116 billion of dry powder available for investment, indicating strong capital reserves for future opportunities [7] Business Line Data and Key Metrics Changes - The private equity portfolio is marked at over 60% at more than 1.5 times the cost, while public names are marked at an average of four times the cost, reflecting strong performance [18][19] - The company has been actively exiting investments, including sales in Japan and infrastructure, contributing to a mature portfolio [19] Market Data and Key Metrics Changes - More than 70% of the company's deployment in infrastructure over the last five years has been outside the United States, showcasing a global investment strategy [34] - The company has seen a shift in investor sentiment, with a more balanced approach to global allocations, particularly towards Europe and Asia [36] Company Strategy and Development Direction - The company is focusing on building portfolios that can navigate different economic cycles, emphasizing long-term investments [15][16] - Strategic holdings have been introduced to capture lower-risk, attractive reward investments, diversifying the company's offerings [23][25] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the realization outlook, citing a strong pipeline of realizations and a disciplined investment approach [15][21] - The company does not foresee significant stress in its portfolios despite macroeconomic concerns, indicating confidence in its investment strategy [12][14] Other Important Information - The company is expanding its product offerings for high-net-worth individuals through partnerships, aiming to capture a larger share of the market [45][49] - The insurance segment is expected to see growth in earnings as the business model transitions and third-party capital is raised [92][93] Q&A Session Summary Question: What is the company's view on inflation and economic growth? - The company expects inflation and interest rates to remain higher for longer, which is consistent with historical trends [4][5] Question: How is the company managing its portfolio amidst macroeconomic concerns? - The company has not seen significant stress in its portfolios and feels confident due to its portfolio construction and historical experience with economic cycles [12][14] Question: What is the outlook for the company's strategic holdings? - The strategic holdings segment is designed to capture lower-risk investments with attractive returns, and the company is optimistic about its growth potential [23][25] Question: How is the company addressing client demand for alternative products? - The company is seeing significant adoption of its alternative products and is expanding its offerings to cater to high-net-worth individuals [38][45] Question: What is the company's strategy regarding direct lending and asset-based finance? - The company is actively involved in both direct lending and asset-based finance, with a focus on scaling third-party business alongside its own insurance growth [76][80]

Financial Performance and Key Metrics - In Q1 2025, total revenues were $136 million, down 3% year-over-year and up 1% quarter-over-quarter [7] - Marketing services revenues were $14 million, down 15% year-over-year and 27% quarter-over-quarter [7] - Online game revenues were $117 million, flat year-over-year and up 7% quarter-over-quarter [7] - GAAP net income was $182 million compared to a net loss of $25 million in Q1 2024 [8] - Non-GAAP net loss was $16 million compared to a net loss of $22 million in Q1 2024 [8] Business Line Performance - Sohu Media platform revenues were $70 million, compared to $20 million in the same quarter last year, with an operating loss of $70 million [19] - Changyou's quarterly revenues were $180 million, down from $190 million in the same quarter last year, with an operating profit of $55 million [19] Market Data and Key Metrics - For Q2 2025, marketing services revenues are expected to be between $60 million and $70 million, implying a year-over-year decrease of 14% to 19% [20] - Online game revenues are expected to be between $96 million and $106 million, implying a year-over-year decrease of 28% to 35% [20] Company Strategy and Industry Competition - The company is focusing on enhancing its social media platform and leveraging unique IPs for monetization opportunities [6] - The online gaming business is adopting a top game strategy, diversifying its portfolio with various game types, and expanding into global markets [15][16] Management's Comments on Operating Environment and Future Outlook - Management noted that the advertising sentiment is mixed, with the auto sector performing better while luxury goods and alcohol spending is declining [24] - The company expects a similar trend in advertising for the second half of the year, with a focus on accelerating growth through its social network platform [25] - AI is seen as beneficial for the gaming business, improving efficiency in art design and production [29] Other Important Information - The company reversed a tax expense previously recognized, amounting to approximately $199 million, which was an accounting treatment issue rather than a cash flow event [8][42] Q&A Session Summary Question: Recent trend in advertising sentiment and outlook for the second half - Management indicated that the auto sector is performing better, while luxury goods and alcohol spending is declining, with expectations for a similar trend in the second half [24][25] Question: Impact of AI on advertising and online games - Management stated that AI has a marginal impact on the media platform but is beneficial for gaming, improving efficiency in various production aspects [26][29] Question: Details on the tax reversal - The tax reversal was an accounting issue related to uncertainty that has now been resolved, with no actual cash flow involved [42][45] Question: ADR delisting risk and alternative plans - Management noted that the situation is speculative and that they would consider alternatives if necessary, but currently, there are no immediate plans [48][52]

Financial Data and Key Metrics Changes - The company reported revenues of $20.1 million for Q1 2025, a 42.5% increase compared to $14.1 million in Q1 2024 [5][20] - Bookings increased by 13.6% to $22.2 million compared to $19.6 million in the same period last year [22] - The net loss for Q1 2025 was $1.9 million, slightly higher than the loss of $1.8 million in Q1 2024 [21] - EBITDA for the quarter was a loss of $3.2 million, compared to a loss of $1.9 million in the prior year [22] Business Line Data and Key Metrics Changes - Total units sold increased by 45% to 1.5 million, primarily driven by the flagship ARC franchise [5] - The mobile segment saw significant growth, with ARC Ultimate Mobile Edition achieving 4.8 million downloads and an average daily active user count of approximately 144,000 [7][20] Market Data and Key Metrics Changes - PC gaming accounted for approximately 48% of revenue in 2024, compared to 41% from consoles [24] - The company noted that the mobile game segment helps offset broader economic impacts, as it lowers the barriers to entry for new players [24] Company Strategy and Development Direction - The company is focused on expanding its content portfolio and diversifying revenue streams, including a new short drama business [10][19] - Upcoming releases and announcements are planned to celebrate the ten-year anniversary of the ARC franchise, with a focus on engaging a broader audience [26] - The company aims to invest in scalable growth opportunities across adjacent genres and emerging platforms [26] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the impact of tariffs on the business, noting that while direct impacts are limited, indirect effects could influence consumer spending [23][25] - The gaming industry has historically shown resilience in the face of economic uncertainty, and the company remains confident in its ability to adapt [25] Other Important Information - The company has signed an MOU with MacMetrix Inc. to co-develop at least 10 short drama series over the next twelve months [10][34] - The company is actively exploring new business opportunities and expanding its indie publishing label, Wandering Wizard [19] Q&A Session Summary Question: Can you discuss your approach to revenue diversification? - The company is exploring and investing in new games and businesses, including a short drama initiative and several new game releases [28][30] Question: What are the revenue implications of the MOU with Mega Matrix? - It is too early to measure potential revenue contributions, but the MOU involves co-developing at least 10 drama series over the next year [31][34] Question: Can you elaborate on the increase in advertising and marketing costs? - Marketing expenditures have increased due to a larger portfolio and participation in events like GDC, but the company does not expect such increases to continue in the upcoming quarters [36][38] Question: How should investors view the approach to achieving positive net income? - The company focuses on cost control and diversified monetization strategies, including outsourcing development and expanding into new revenue streams [39][40]