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Campaigns / Muddy Waters → AppLovin
Muddy Waters vs. AppLovin

AppLovin · APP

2 decks published between 2025-03-27 and 2025-05-07 — 66 pages, 66 analysed slides total.

follow up

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2025-03-27 follow up

    2025 03 MW_20250327 2

    50pp · full_deck

    AppLovin's e-commerce ad boom is built on fingerprinting that violates Meta/Google/Apple TOS; only 25-35% of sales are incremental and Q1 churn is already 23%.

    N 4 V 3 C 2
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  2. 2025-05-07 follow up

    2025 05 MW_APP_20250507

    16pp · full_deck

    Muddy Waters is short AppLovin; the CEO and CTO's March 2025 denials of persistent identifiers are demonstrably false, exposing APP to deplatforming, regulatory, and margin-compression risks.