@Samlunch:$Sea Ltd(SE)$  Here is an alternative bearish viewpoint.  Shopee is unlikely to continue its dominance without a significant driver of growth. Tiktok has its strong social media influence and presence to direct consumers to tiktok shop and drive sales there.  Shopee will have to resort to expensive marketing campaigns to stay in the mindshare of the consumer and dangle discounts to drive sales growth. This will be a drag on costs, and it is unlikely we will see a net profit in the near future.  As companies cut headcount to be leaner, it remains to be seen whether Sea can operate with efficiency.  I am a user of Shopee but will never invest with Sea.