Probably some bias asking this on Reddit, but curious what people think.
Both are advertising businesses, but with very different models.
**Reddit** monetizes one platform with a unique user/community moat.
**AppLovin** monetizes thousands of third-party apps through its AI advertising platform.
My biggest concern with AppLovin is platform risk. Apple or Google could change policies in ways that materially impact its business. Reddit owns its platform, so that risk seems lower.
On the other hand, AppLovin has arguably shown the stronger execution over the past few years.
Long term, both are expected to grow revenue around **35% annually** and both trade around **45–55x earnings**.
If you could only own one for the next 10 years, which would you choose and why?