Pavel Durov: belief

Transcript context

…Hey listen, I’m really proud. I got a Snoop gift next to my name, and I figured out that you can add even more by pinning them. It’s like a cool little art icon. We didn’t expect it, by the way. We just had a lot of fun launching these things. And then we realized that one of the first collections we sold each piece at something like $5. And then the minimum price of any items in this collections currently is something like $10,000. And it keeps going up. So I was quite surprised with the reception. I realized when you are trying to monetize social media platform in a way that is consistent with your values, you are forced to find ways that benefit your users, not exploit them. People love these gifts. People love the fact that they can congratulate a person close to them with something valuable and at the same time something beautiful. Also, some people make a business out of it, which is funny. They resell these gifts. We recently met a guy who earned several million dollars just from buying and selling gifts. It’s a real market.…

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