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“15 million DAU in the same period, which is much lower…” — Acquired at 47:24

“15 million DAU in the same period, which is much lower growth than they had earlier than that. So this is not a good narrative for Snap. Yeah. And so then the question is, if you start to think about sort of what each of these companies has going for them, Facebook and Instagram have a structural advantage where they…”

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