41–50 of 63 posts
Someone should let them know not to keep having layoff rounds periodically. It is better to have one deep round and that's it. What they are doing creates so much uncertainty, anxiety, and kills employee morale.
Earlier quoted context omitted.
If the service can be implemented as a decentralized autonomous corporation running on a Blockchain you might not even need the CEO.
Who can then pocket all the money?
I really hope Snap's struggles as a public company don't effect other "Unicorns" going public. Judging from Spotify's weird IPO filing I think other companies are getting spooked.
She had tons of snaps, but informed me that they were almost all blank images. She and her friends send each other these blank images to maintain 'streaks,' which count the number of continuous days that two people have messaged each other.
So attached to these streaks were the cousin and her friends that if the 24 hour mark was approaching and the cousin hadn't sent a blank message to her longest streak, the counterparty would log-in to the cousin's snapchat and send _herself_ a message, to make sure the streak continued.
My cousin said that the blowup in (blank) picture messages had slowed the app to a crawl, leading her not to use it anymore, aside of course for streaks.
Not the kind of of daily-active-users that advertisers crave. I'm 28; never heard of streaks before this.
So SNAP lays off another 7% of their workforce to save $34M a year whilst their CEO pockets $638M in compensation (3rd highest CEO payout ever) before they're remotely close to profitability. Not sure if company-wide layoffs and paying their CEO more are going to achieve their growth/profitability aspirations.
They seem like the smart money here.
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Correct, however they also give 2 signing bonuses, that bring you to an "equivalent" total compensation, so at least you are getting straight cash, not hoping for a stock payout that may not come.
Other top companies also give signing bonuses as well as the usual vesting schedule, so I'm not sure this really evens it out.
I really hope Snap's struggles as a public company don't effect other "Unicorns" going public. Judging from Spotify's weird IPO filing I think other companies are getting spooked.
I hope it does. Snap was clearly overvalued to an absurd level. If things like this don’t make investors more discerning, then you’ve got the workings of a bubble on your hands.
Not disagreeing with what you say; I would be very interested in a side by side analysis of FB and SNAP to see why one succeeded and one is struggling.
Perhaps one main reason is simply that FB is aggressively trying to kill SNAP whereas FB itself didn't have that kind of a determined opponent.
Earlier quoted context omitted.
I hope it does. Snap was clearly overvalued to an absurd level. If things like this don’t make investors more discerning, then you’ve got the workings of a bubble on your hands.
People said that about Facebook as well and yet now its super profitable. Not disagreeing with what you say; I would be very interested in a side by side analysis of FB and SNAP to see why one succeeded and one is struggling. Perhaps one main reason is simply that FB is aggressively trying to kill SNAP whereas FB itself didn't have that kind of a determined opponent.
Snap had 150 million active users, most importantly it's growth was seriously stunted, and it's monetisation strategy was rather 2 dimensional.
Facebook IPO'd at around $100 billion, Snap IPO'd at $20 billion, and it got very close to $30 billion in the trading immediately after. However nothing about it's numbers should justify that. Investors get seduced by the promise of a SaaS revenue hockey stick, and I hope people learn the lessons of Snap before they buy into future hype IPOs so easily.