### Comment:
Yes. From the numbers in the press release they have proven they can extract money from a fixed set of the population. If they cannot get more people to join they will start tanking as they have now eatablished they can break even. Expectations next earnings will be on user growth and keeping earnings at break even. 
  
 They cannot do that.

### REPLY:
There’s no reason that they can’t justify their current value just from the existing user base. They have many options to improve ARPU and a ton of room to cut costs. They have the lowest EV/DAU multiple of any of the big social media/consumer subs names.

### END.