Adam Foroughi
CEO, AppLovin
aka Adam Fergi
“We went out in 2021, $600 million of EBITDA, $28 billion market cap. We got as high as 40 billion. And then in 22, the stock went down literally every day. We got to about a $3.8 billion market cap.”
“We ended up going from nine to $750 a share in a matter of two and a half years.”
“Our EBITDA margins, I think, are number one in the markets, 84%.”
Adam Foroughi
One-line summary: Founder and CEO of AppLovin (APP). All-In AIS26 guest on surviving the 2022 92% drawdown, ads as ML 1.0, and the ~B mobile-game ad market. Map, not a buy thesis.
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Speaker-attributed claims extracted from diarized sources. Each bullet mirrors one entry in quotes: frontmatter — keep them in sync.
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On (no topic linked):
"We went out in 2021, $600 million of EBITDA, $28 billion market cap. We got as high as 40 billion. And then in 22, the stock went down literally every day. We got to about a $3.8 billion market cap." — 2026-09-20-podcast-all-in-podcast-adam-foroughi-applovin-ceo-surviving-a-92 (2026-09-20)
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On (no topic linked):
"We ended up going from nine to $750 a share in a matter of two and a half years." — 2026-09-20-podcast-all-in-podcast-adam-foroughi-applovin-ceo-surviving-a-92 (2026-09-20)
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On (no topic linked):
"Our EBITDA margins, I think, are number one in the markets, 84%." — 2026-09-20-podcast-all-in-podcast-adam-foroughi-applovin-ceo-surviving-a-92 (2026-09-20)
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