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The era of horizontal networks are over. The last one was TikTok almost a decade ago, which is no more in India. No more billion users with ad monetisation. But vertical apps with smaller audiences, with more focused monetisation rather than ads.

This is a Silicon Valley-centric American viewpoint that completely ignores what's happening in emerging markets. WhatsApp, which is absolutely a horizontal network, continues to expand in Africa and parts of Asia where smartphone adoption is still g