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Depends if you know what you are doing.
If you do, then a handful of really good sites is all you need.
If you don't know anything yet, you are better off starting multiple sites so you can see what works and what doesn't in a much shorter period of time than if you did them one at a time.
If you are new and don't have much experience, planning to build one big mega site that will get super popular is pretty silly and a bad case of wishful thinking.
But that's just me.
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