Welcome to Deconstructor of Funds + UA Monthly kickoff00:17 Meet the guests: Jihan (Scaling.Games) & Josh (Wildcard Games)01:06 Today’s agenda: Meta’s return, Appsflyer report, Reddit AI ads, Liftoff IPO01:29 Is “Meta back” real? The 2.5 Gamers breakdown & the dopamine-hit spike02:52 What Meta’s actually doing: rollout strategy, templates, and market impact06:05 In-app ads explained: why Meta buying inventory could boost ad-monetized LTV07:48 Ad quality debate: intrusive formats, churn-per-impression, and broken incentives12:58 Can hyper-casual come back? CPMs, payback windows, and hybrid monetization18:38 State of Game Marketing report: shrinking US spend, growth in Turkey/India20:16 The creative arms race: AI variations, the ‘middle class’ squeeze, and rising noise23:25 AI Shrinks the Creative Gap: Small Teams Catch Up, Mid-Tier Stalls24:41 China’s UA Surge + iOS Outspending Android: Where the Scale Is Coming From25:38 30 Creatives a Day: The New ‘Tax’ of Competing in Mobile UA26:07 Ripoffs, Ethics, and Beating the Filters: The Dark Side of Creative Volume28:00 Hero Creatives Aren’t Dead—But Copy Speed Forces Smarter Variations30:16 Copying vs. Trends: When ‘Stealing’ Is Real (and When It’s Just the Market)31:40 Is the Market Really an Iceberg? US Spend Down, Web Shops, and the ‘Hidden’ Picture34:27 Reddit ‘Max’ Campaigns: Advantage+ for Reddit with a Promise of Transparency37:19 Top Audience Personas: Useful Insight or Just a Fancy Dashboard?39:34 How to Test Reddit Max: Onboarding Friction, Learning Periods, and Scalability Unknowns40:58 Liftoff Files to Go Public: Valuation, Margins, Debt, and the AI Black-Box Race45:44 What’s Liftoff’s Moat? Engine vs. Fuel, Data Advantages, and the AppLovin Comparison48:35 Wrap-Up: UA Monthly Feedback, What to Cover Next