MemGPT/example-sec-filings · Datasets at Hugging Face

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People regularly access the Internet through mobile phones, tablets,
handheld computers, voice-assisted speakers, television set-top devices,
smart televisions, wearables, and automobile in-dash systems. These
devices enable new modalities of interaction, such as conversational
user interfaces, and new intermediaries, such as "uper-apps"like WeChat,
where consumers can use many online services without leaving a
particular app. We anticipate that the use of these means of access will
continue to grow and that usage through desktop computers will continue
to decline, especially in certain regions of the world experiencing the
highest rate of Internet adoption. The functionality and user
experiences associated with these alternative devices, such as a smaller
screen size or lack of a screen, may make the use of our platform
through such devices more difficult than through a desktop computer,
lower the use of our platform, and make it more difficult for our Hosts
to upload content to our platform. In addition, consumer purchasing
patterns can differ on alternative devices, and it is uncertain how the
proliferation of mobile devices will impact the use of our platform and
services. Mobile consumers may also be unwilling to download multiple
apps from multiple companies providing similar services leading such
consumers to opt to use one of our competitors'services instead of ours.
As a result, brand recognition and the consumer experience with our
mobile apps will likely become increasingly important to our business.
In addition, these new modalities create opportunities for device or
systems companies, such as Amazon, Apple, and Google, to control the
interaction with our consumers and disintermediate existing platforms
such as ours.

We need to provide solutions for consumers who are limited in the size
of the app they can support on their mobile devices and address latency
issues in countries with lower bandwidth for both desktop and mobile
devices. Because our platform contains data-intensive media, these
issues are exacerbated. As new devices, operating systems, and platforms
continue to be released, it is difficult to predict the problems we may
encounter in adapting our offerings and features to them, and we may
need to devote significant resources to the creation, support, and
maintenance of our offerings and features.

Our success will also depend on the interoperability of our offerings
with a range of third-party technologies, systems, networks, operating
systems, and standards, including iOS and Android; the availability of
our mobile apps in app stores and in "uper-app"environments; and the
creation, maintenance, and development of relationships with key
participants in related industries, some of which may also be our
competitors. In addition, if accessibility of various apps is limited by
executive order or other government actions, the full functionality of
devices may not be available to our customers. Moreover, third-party
platforms, services and offerings are constantly evolving, and we may
not be able to modify our platform to assure its compatibility with
those of third parties. If we lose such interoperability, we experience
difficulties or increased costs in integrating our offerings into
alternative devices or systems, or manufacturers or operating systems
elect not to include our offerings, make changes that degrade the
functionality of our offerings, or give preferential treatment to
competitive products, the growth of our community and our business,
results of operations, and financial condition could be materially
adversely affected. This risk may be exacerbated by the frequency with
which consumers change or upgrade their devices. In the event consumers
choose devices that do not already include or support our platform or do
not install our mobile apps when they change or upgrade their devices,
our traffic and Host and guest engagement may be harmed.

*If we are unable to adapt to changes in technology and the evolving
demands of Hosts and guests, our business, results of operations, and
financial condition could be materially adversely affected.*

The industries in which we compete are characterized by rapidly changing
technology, evolving industry standards, consolidation, frequent new
offering announcements, introductions, and enhancements, and changing
consumer demands and preferences. We have invested heavily in our
technology in recent years. Our future success will depend on our
ability to adapt our platform and services to evolving industry
standards and local preferences and to continually innovate and improve
the performance, features, and reliability of our platform and services
in response to competitive offerings and the evolving demands of Hosts
and guests. Our future success will also depend on our ability to adapt
to emerging technologies such as tokenization, cryptocurrencies, new
authentication technologies, such as biometrics, distributed ledger and
blockchain technologies, artificial intelligence, virtual and augmented
reality, and cloud technologies. As a result, we intend to continue to
spend significant resources maintaining, developing, and enhancing our
technologies and platform; however, these efforts may be more costly
than expected and may not be successful. For example, we may not make
the appropriate investments in new technologies, which could materially
adversely affect our business, results of operations, and financial
condition. Further, technological innovation often results in unintended
consequences such as bugs, vulnerabilities, and other system failures.
Any such bug, vulnerability, or failure, especially in connection with a
significant technical implementation or change, could result in lost
business, harm to our brand or reputation, consumer complaints, and
other adverse consequences, any of which could materially adversely
affect our business, results of operations, and financial condition.

Another critical component to our future success will be our ability to
integrate new or emerging payment methods into our platform to offer
alternative payment solutions to consumers. Alternate payment providers
such as Alipay, Paytm, and WeChat Pay operate closed-loop payments
systems with direct connections to both consumers and merchants. In many
regions, particularly in Asia where credit cards are not readily
available and/or e-commerce is largely carried out through mobile
devices, these and other emerging alternate payment methods are the

People regularly access the Internet through mobile phones, tablets,

handheld computers, voice-assisted speakers, television set-top devices,

smart televisions, wearables, and automobile in-dash systems. These

devices enable new modalities of interaction, such as conversational

user interfaces, and new intermediaries, such as "uper-apps"like WeChat,

where consumers can use many online services without leaving a

particular app. We anticipate that the use of these means of access will

continue to grow and that usage through desktop computers will continue

to decline, especially in certain regions of the world experiencing the

highest rate of Internet adoption. The functionality and user

experiences associated with these alternative devices, such as a smaller

screen size or lack of a screen, may make the use of our platform

through such devices more difficult than through a desktop computer,

lower the use of our platform, and make it more difficult for our Hosts

to upload content to our platform. In addition, consumer purchasing

patterns can differ on alternative devices, and it is uncertain how the

proliferation of mobile devices will impact the use of our platform and

services. Mobile consumers may also be unwilling to download multiple

apps from multiple companies providing similar services leading such

consumers to opt to use one of our competitors'services instead of ours.

As a result, brand recognition and the consumer experience with our

mobile apps will likely become increasingly important to our business.

In addition, these new modalities create opportunities for device or

systems companies, such as Amazon, Apple, and Google, to control the

interaction with our consumers and disintermediate existing platforms

such as ours.

We need to provide solutions for consumers who are limited in the size

of the app they can support on their mobile devices and address latency

issues in countries with lower bandwidth for both desktop and mobile

devices. Because our platform contains data-intensive media, these

issues are exacerbated. As new devices, operating systems, and platforms

continue to be released, it is difficult to predict the problems we may

encounter in adapting our offerings and features to them, and we may

need to devote significant resources to the creation, support, and

maintenance of our offerings and features.

Our success will also depend on the interoperability of our offerings

with a range of third-party technologies, systems, networks, operating

systems, and standards, including iOS and Android; the availability of

our mobile apps in app stores and in "uper-app"environments; and the

creation, maintenance, and development of relationships with key

participants in related industries, some of which may also be our

competitors. In addition, if accessibility of various apps is limited by

executive order or other government actions, the full functionality of

devices may not be available to our customers. Moreover, third-party

platforms, services and offerings are constantly evolving, and we may

not be able to modify our platform to assure its compatibility with

those of third parties. If we lose such interoperability, we experience

difficulties or increased costs in integrating our offerings into

alternative devices or systems, or manufacturers or operating systems

elect not to include our offerings, make changes that degrade the

functionality of our offerings, or give preferential treatment to

competitive products, the growth of our community and our business,

results of operations, and financial condition could be materially

adversely affected. This risk may be exacerbated by the frequency with

which consumers change or upgrade their devices. In the event consumers

choose devices that do not already include or support our platform or do

not install our mobile apps when they change or upgrade their devices,

our traffic and Host and guest engagement may be harmed.

*If we are unable to adapt to changes in technology and the evolving

demands of Hosts and guests, our business, results of operations, and

financial condition could be materially adversely affected.*

The industries in which we compete are characterized by rapidly changing

technology, evolving industry standards, consolidation, frequent new

offering announcements, introductions, and enhancements, and changing

consumer demands and preferences. We have invested heavily in our

technology in recent years. Our future success will depend on our

ability to adapt our platform and services to evolving industry

standards and local preferences and to continually innovate and improve

the performance, features, and reliability of our platform and services

in response to competitive offerings and the evolving demands of Hosts

and guests. Our future success will also depend on our ability to adapt

to emerging technologies such as tokenization, cryptocurrencies, new

authentication technologies, such as biometrics, distributed ledger and

blockchain technologies, artificial intelligence, virtual and augmented

reality, and cloud technologies. As a result, we intend to continue to

spend significant resources maintaining, developing, and enhancing our

technologies and platform; however, these efforts may be more costly

than expected and may not be successful. For example, we may not make

the appropriate investments in new technologies, which could materially

adversely affect our business, results of operations, and financial

condition. Further, technological innovation often results in unintended

consequences such as bugs, vulnerabilities, and other system failures.

Any such bug, vulnerability, or failure, especially in connection with a

significant technical implementation or change, could result in lost

business, harm to our brand or reputation, consumer complaints, and

other adverse consequences, any of which could materially adversely

affect our business, results of operations, and financial condition.

Another critical component to our future success will be our ability to

integrate new or emerging payment methods into our platform to offer

alternative payment solutions to consumers. Alternate payment providers

such as Alipay, Paytm, and WeChat Pay operate closed-loop payments

systems with direct connections to both consumers and merchants. In many

regions, particularly in Asia where credit cards are not readily

available and/or e-commerce is largely carried out through mobile

devices, these and other emerging alternate payment methods are the