Anyone else tune in to the Q&A from Snaps earnings call tonight? I'm not sure if Rich Greenfield deliberately tried to embarrass Spiegel, but the comment was extremely deserved. I honestly had a hard time following Evan during every comment he participated in.
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Didn't watch it. God but SNAP was a shit show today. I have a friend who bought some puts and cashed out in the thousands. I remember watching it, was $13 and immediately got dumped to $11.
Doesn't surprise me whatsoever. It's entertaining because I have friends on both sides of the spectrum.
Yeah SNAP is just terrible I'm glad I trusted my gut. The stock is going to zero, I personally would buy some puts but I'm just gambling at that point. Even though the market went to shit this morning SNAP was in the green, very weird.
My opinion is, and has always been, that snap as a platform is woefully unfit for classic commercialization. It's quite obvious that snap doesn't want to bog down their users with ads every x message, because truth to be told, that would send users away in droves. If you've ever tried apps like badoo, you know what a shitty experience that is.
People have always said "But, but, look at Facebook! They're banking in on ads" Yes, but that's because their platform is very ad-friendly. The ads don't take up 100% of your screen. They're always there, but they're in the background. Whatever you see on apps like snap, takes up everything.
While I use snap daily, it's just not very ad-friendly. And unfortunately it followed the classic "Oh, we'll just find a way to commercialize when we have millions and millions of users. No problem" startup route. A shining example of how mickey mouse-valuations work.
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