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Tren Griffin: Around 6% of ChatGPT users are paying subscribers
Tren Griffin observes that approximately 6% of ChatGPT users are paying subscribers. He explains that the cost of acquiring users, or customer acquisition cost (CAC), is recorded below the gross margin line. Griffin adds that reducing CAC, especially since it is an upfront cash outlay, can slow the growth of the user base.
He further clarifies that the direct costs involved in producing a service for existing users are classified as cost of goods sold (COGS).
Griffin has previously noted that Benchmark’s $6.7 million investment in eBay in 1997 grew to over $21 billion in under two years, highlighting rapid growth in the tech sector during that period (link). In another analysis, he discussed how the internet bubble burst in March 2000, ahead of the later telecom collapse (link). These past observations add perspective to his recent commentary on user growth and cost structures in digital businesses.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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