Adam Foroughi, Applovin CEO: Surviving a 92% Drawdown, Ads as ML 1.0 & the $50B Game Ad Market

Adam Foroughi, CEO of Applovin, discusses the company's turbulent journey from a 92% stock drawdown to becoming a leader in mobile advertising. He explains how app discovery relies on recommendation rather than search, dispels the myth that phones listen to conversations, and reflects on the impact of Apple's privacy crackdown. The conversation also covers how lean teams can compete with tech giants, the concept of margin moats, and the challenges of building in China.