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What if the spammer’s alternative to interacting with you/the LLM is to sit around chit chatting with their friends waiting for a call/chat queue? I don’t think it’s necessarily a given that a spammer spends with a troll is one minute the spammer isn’t spamming to someone else

It’s little to no value. These SMS operations are very efficient and horizontally scalable, running thousands of conversations in parallel, even one human can be talking to multiple people.

So you believe it's a human on the other end. In that case, an LLM might meet the efficiency criteria, sure.

More likely, though it's using an even more cost efficient technique and isn't consuming much or any human attention at all here.

It’s a human on the other end. My suspicion of how it works is that the first several messages are scripted no matter the response, and then upon passing some gates you get a human in the loop. Makes sense too, them not wasting a human on the first several messages.