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  • Love is Getting Expensive 💘

Love is Getting Expensive 💘

PLUS: The Tropical Island with an AI Treasure 💰

Hi Everyone. This is Take Off. We're like a hidden Easter egg in your favorite video game - surprising, delightful, and adding an extra layer of fun to your tech news consumption.

Here's what we're serving up today:

  • Love is Getting Expensive 💘 

  • The Tropical Island with an AI Treasure 💰

  • Asteroids ☄️

Love is Getting Expensive 💘 

The days of venture-capital subsidized swiping are over and finding love is becoming more and more expensive. 

As online dating grows, companies have resisted the urge to introduce advertising as a revenue stream and have instead layered in subscription models with premium features. 

Money Can Buy You Love

Remember the last time you found love for cheap on these apps?

Yeah, neither do we.

  1. Want more swipes? Pay up.

  2. Want to find love in another city? Pay up.

Match Group - owner of Tinder and Hinge has a dwindling user base. And with user growth slowing down, Match has had to mine the romantic hopefuls still on its app more than ever. 

Despite Match Group’s user base declining for the past 4 consecutive quarters, their overall revenue has risen to $3.3B in 2023 as it has made each remaining lonely heart count for more.

It’ll All End in (Expensive) Tiers

Tinder, Hinge and the likes are now at a different stage in their startup life. Gone are its frat party days where they had the cash incinerator ON for acquiring more users at any costs.

It’s now in its get a job and settle phase where cash is king and the bottomline matters more. 

Gary Swidler - Match Group’s CFO puts it eloquently:

“We’re not focused on a specific key performance indicator, whether it’s payers or revenue per payer . . . we want to maximize overall revenue.”

To squeeze more juice out of its current users, the company is launching more premium plans.

  1. Hinge has a $50/mo subscription for serious daters.

  2. Tinder has a $499/mo plan called Tinder Select - available to just 1% of the app’s users.

  3. The League - acquired by Match Group, has a $999/week VIP membership. 

How much would you pay for finding love? Let us know by replying to this email.

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The Tropical Island with an AI Treasure 💰

Picture a tiny island in the Caribbean. Palm trees, sandy beaches, and... an AI Boom? Yep, you read that right!

The Caribbean’s little slice of paradise, Anguilla, is making BIG money. Not from mojitos or snorkeling tours, but from a simple internet domain.

The country has been assigned the “ai” code by the Internet Corporation for Assigned Names and Numbers.

Turns out, when you’re in charge of handing out website names ending in “.ai” in 2023, tech giants and flashy startups will toss a lot of dollars your way!

Anguilla's ".ai" domain management revealed registrations have DOUBLED in just a year.

All thanks to the boom in AI tech, and an unexpected helper - OpenAI's ChatGPT. Apparently, ever since ChatGPT made its dramatic entrance to the digital stage, the AI hype train's been full steam ahead.

Google, Facebook, Microsoft, and more giants are hopping aboard the ".ai" express. It’s like the dot-com boom of the '90s, but with a lot more beach vibes!

Anguilla brought in $7.4 million from .ai domain registrations in 2021, according to public records. It was previously estimated it would receive $8.3 million from domain registrations in 2023.

Now it’s estimated that Anguilla will bring in between $25 million and $30 million this year.

Source: Bloomberg

That’s A LOT of piña coladas. Or, more accurately, it's about 10% of the island's GDP!

Say What!

In a world where everyone's jostling for the perfect domain, Anguilla’s sitting pretty on a digital goldmine they didn’t even know they had!

Who knew that a country’s most lucrative export could be a couple of letters?

☄️ Asteroids ☄️

Despite the rocky downfall of FTX 17 months ago, there's a light at the end of the tunnel for its creditors. 98% are set to receive 118% of their original investments back, and others are getting 100%, plus hefty interest! ☀️ 💸

Samsung Medison is set to acquire AI ultrasound innovator Sonio for $92.7 million, boosting its diagnostic imaging with Sonio's AI-powered software. Sonio will remain independent, aiming to revolutionize prenatal ultrasound exams globally. 🏥🤖

Apple's unveiling of the M4 chip for the new OLED iPad Pro highlights its AI prowess with 38 trillion operations per second, although it trails behind Qualcomm's Snapdragon X Elite. 🍏💻

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