Evidence receipt / commitment
Published · transcript-backedSpeaker unverified: commitment
24 Mar 2021 Acquired Rec Room Part II (with CEO Nick Fajt)
“Once we looked, the really bright spot for us was the user-generated content. This is gonna take a long time to make it click, but eventually if we can take these VR creators, if we can scale their creations and we can get them monetizing a user base that's at a mobile scale, they will be happy, we will be happy, this will be a really strong business with great network effects, very scalable.”
— Speaker unverified
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Everything needed to verify it.
- Speaker
- Speaker unverified
- Attribution
- Not verified from this transcript
- Claim type
- commitment
- Recorded
- 24 Mar 2021
- Publisher
- Acquired
Transcript context
…Did you consider trying to get profitable, where you like, okay, if we were to turn on monetization, how long would it take to find something that worked? How much could we actually cover our burn and get to a zero net burn? Would our investors be on board with that? What does calculus look like when you're sort of examining that as a potential? It's a reasonable question. Once we looked, the really bright spot for us was the user-generated content. This is gonna take a long time to make it click, but eventually if we can take these VR creators, if we can scale their creations and we can get them monetizing a user base that's at a mobile scale, they will be happy, we will be happy, this will be a really strong business with great network effects, very scalable. If we just pivot hard towards going to try and extract the maximum number of dollars from the very limited number of users we have so that we're cash flow–neutral, we're just not heading along that path. We were just more comfortable that the promised land is really this user-generated content ecosystem, where we're rewarding our best creators for the amazing work that they're doing. That just looked different. I don’t know that we haven't really looked at it. Were there example companies or products you guys were looking to as either an inspiration or a vision of what the promised land could look like? I'm wondering, were you looking at something like Instagram, if you can get this UGC flywheel going, or maybe even Roblox at that point in time which was starting to spin even though most of the rest of the world didn't know it yet?…
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