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Snap CEO Named a Chief Business Officer, Then Changed His Mind

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Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#31

Post by klodolph »

seibelj wrote: post #17
gonehome wrote: post #14

Earlier quoted context omitted.

I think you're probably right, but I'd be very surprised if Snap survives - they've been outplayed by Facebook and Zuckerberg is a better CEO. If you're looking for a stock to short Snap seems like a good choice - I'd bet on failure in a few years or some sad acquisition on poor terms. The only other tech company I'm pretty confident will fail is Magic Leap, but unfortunately they're private so hard to bet against.

I’ve made a good amount of cash shorting SNAP, I can’t understand who is buying when they have provided guidance of decreasing DAU’s for at least one more quarter. I hope employees at SNAP are negotiating more stock or salary, they could do so much better at other firms.

Some of them are doing much better at other firms... from what I hear, leaving for SNAP and then coming back two years later at level N+2.

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#32

Post by harryh »

whoisjuan wrote: post #27
harryh wrote: post #20

Earlier quoted context omitted.

It's important to note that Kristen O’Hara was also an outsider who is a "well connected, veteran exec." She had only been with Snap for 2 months. Characterizing her as a "good employee, but ultimately an employee with no new insights or inputs" is probably not accurate.

True. But I think the contrast here is who is more capable of adding value to Snap. The Ex-Time Warner marketing executive or the Ex-Amazon Ad executive. Profile wise they are pretty similar but yet they come from very different industries and probably have very different operational philosophies. Also, 2 months is a very short time for everyone but Snap. In a 12 months runway, 2 months is 16% of the time you have be…

I love it when people concede that a fact central to their line of reasoning is false, but argue that their conclusion is still true.

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#33

Post by sonnyblarney »

It's obviously inappropriate, but not beyond what a young executive might do. Startups need to move quickly, changing your mind after 2 days is normal, it's just the politics (and optics) that are affected.

It's kind of a rookie move ... but in a way, maybe it's the rookies advantage.

Evan can get away with doing this because he's young.

Consider that an older exec would have not changed his mind out of fear of 'looking bad' even if it were not the right thing for the company.

This isn't good, but it's not a big deal at all.

Of course this assumes he mad the right decision in the end ...

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#34

Post by barbecue_sauce »

ryanmccullagh wrote: post #12
ypeterholmes wrote: post #10

Earlier quoted context omitted.

Better question- why is the Board allowing his incompetence to run this company into the ground?

Maybe because the board has no control over his decisions - https://www.cnbc.com/2018/02/22/snap-10-k-annual-report-show...

At what point does he realize that his decisions are bad and he needs supervision?

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#35

Post by capkutay »

lechiffre10 wrote: post #30

Evan thinks he's steve jobs. Lost god knows how many users of Snapchat because he felt compelled to completely redesign the app himself and looks like he off course when Instagram started copying Snapchat's features. A lot of these companies that aren't profitable rush to become public without a proper business model and end up getting crushed ( eg: HMNY company of movie pass) It's no surprise that Snapchat is doing…

Seems like every wanna be Steve Jobs completely misses the point of what made Steve Jobs great, but then use all the bad parts about his personality to justify doing horrible, stupid, crazy things.

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#36

Post by whoisjuan »

harryh wrote: post #32
whoisjuan wrote: post #27

Earlier quoted context omitted.

True. But I think the contrast here is who is more capable of adding value to Snap. The Ex-Time Warner marketing executive or the Ex-Amazon Ad executive. Profile wise they are pretty similar but yet they come from very different industries and probably have very different operational philosophies. Also, 2 months is a very short time for everyone but Snap. In a 12 months runway, 2 months is 16% of the time you have be…

I love it when people concede that a fact central to their line of reasoning is false, but argue that their conclusion is still true.

I don't know if you're being sarcastic or not, but my core argument wasn't trying to say Jeremi Gorman is better than Kristen O' Hara for this job. I don't have enough information to factually check that.

I was defending Spiegel's decision (hence my devil's advocate opener) and why something that seems wrong for the general public may be what's best for a company like Snap at this point.

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#37

Post by protomyth »

capkutay wrote: post #35
lechiffre10 wrote: post #30

Evan thinks he's steve jobs. Lost god knows how many users of Snapchat because he felt compelled to completely redesign the app himself and looks like he off course when Instagram started copying Snapchat's features. A lot of these companies that aren't profitable rush to become public without a proper business model and end up getting crushed ( eg: HMNY company of movie pass) It's no surprise that Snapchat is doing…

Seems like every wanna be Steve Jobs completely misses the point of what made Steve Jobs great, but then use all the bad parts about his personality to justify doing horrible, stupid, crazy things.

Its really hard to fake taste, but easy to be an a-hole.

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#38

Post by 300bps »

whoisjuan wrote: post #27
harryh wrote: post #20

Earlier quoted context omitted.

It's important to note that Kristen O’Hara was also an outsider who is a "well connected, veteran exec." She had only been with Snap for 2 months. Characterizing her as a "good employee, but ultimately an employee with no new insights or inputs" is probably not accurate.

True. But I think the contrast here is who is more capable of adding value to Snap. The Ex-Time Warner marketing executive or the Ex-Amazon Ad executive. Profile wise they are pretty similar but yet they come from very different industries and probably have very different operational philosophies. Also, 2 months is a very short time for everyone but Snap. In a 12 months runway, 2 months is 16% of the time you have be…

Your entire first post on this topic turns out to be completely wrong yet you act like none of that happened and throw out more non-facts.

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#39

Post by sharkmerry »

lechiffre10 wrote: post #30

Evan thinks he's steve jobs. Lost god knows how many users of Snapchat because he felt compelled to completely redesign the app himself and looks like he off course when Instagram started copying Snapchat's features. A lot of these companies that aren't profitable rush to become public without a proper business model and end up getting crushed ( eg: HMNY company of movie pass) It's no surprise that Snapchat is doing…

moviepass was founded in 2011. HMNY began trading in 05. doest seems like a crazy rush.

Re: Snap CEO Named a Chief Business Officer, Then Changed His Mind

#40

Post by partiallypro »

capkutay wrote: post #35
lechiffre10 wrote: post #30

Evan thinks he's steve jobs. Lost god knows how many users of Snapchat because he felt compelled to completely redesign the app himself and looks like he off course when Instagram started copying Snapchat's features. A lot of these companies that aren't profitable rush to become public without a proper business model and end up getting crushed ( eg: HMNY company of movie pass) It's no surprise that Snapchat is doing…

Seems like every wanna be Steve Jobs completely misses the point of what made Steve Jobs great, but then use all the bad parts about his personality to justify doing horrible, stupid, crazy things.

Jobs was a genius late in life (sans on his own health,) but he also helped run Apple into the ground after early success. People tend to forget that.
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