AppLovin Q4 2025 earnings: understanding AppLovin’s risks — Thread

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Anonymous Octopus 2373 Feb 13, 2026 12:20 pm

This is the main thing that people don't really get. In order to use Axon you have to run MAX as your mediation platform. That is the single biggest ecosystem lock that APP has.

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Eric Feb 13, 2026 12:33 pm

Yes, numerous structural mechanisms exist for lock-in. I speak to that in the Twitter thread I linked in the piece.

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