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Reddit's citations in ChatGPT have collapsed to almost nothing, and so have the review sites. Eric pulls up the PromptWatch data live and Neil reads what it means for anyone who built a strategy on those placements. Then they turn to the money side: how to underwrite a deal, what a creative agency is really worth, and what Sequoia's 'services are the new software' thesis does to agency valuations.

Key takeaways
◾Reddit and the big review sites have been almost entirely cut out of ChatGPT's citations.
◾The marketer's job is shifting from ranking pages to being the source an AI quotes.
◾Founder retention is not one structure. Name which model each founder is actually in before you buy.

Chapters
00:00 Reddit’s Decline
01:57 The Marketer’s Shift
04:14 Deal Underwriting Logic
07:36 Valuing Creative Agencies
12:56 M&A Patience Pays
18:01 Eric's Agency M&A Thesis