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How do social media companies like twitter or youtube not run out of space for posts?

I know memory is fairly cheap but e.g. there are millions of new videos on youtube everyday, each probably few hundred MBs to few GBs. It all has to take enormous amount of space. Not to mention backups.

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  • Enormous servers all around the world and over the years storage is getting smaller and smaller proportionally to how much you can store on it

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