How Snapchat Destroyed $120 Billion

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It didn't destroy anything! It was just extremely overvalued.

Better title: How insane investors thought a camera app was worth over $100 billion

The valuation was insane right from the start. There's no logic behind valuation anymore.

All we can say is: Evan and Bobby are not certified bros :(

Many of these cash burning, loss making "growth stocks" are bubbles waiting to get popped.

Snapchat has become absurd nowadays

The modern trend of Silicon Valley to focus on growth at all costs rather than profitability or real value is the actual issue here.

I think Snap mades several blunders that will ultimately lead to their demise if they don't pivot. Spectacles was a bad idea but rolling them out via vending machines was just bad. Paying millions for people to uploading stolen tiktok videos is another. And now a drone with a 4hr battery life that can only take selfies, did they have no one in the R&D dept that said this was a bad idea? But I think the biggest blunder was classifying their business as a camera company instead of a software/platform company. If they continue at this trajectory, it won't be good for them. But I'm sure FB and other big boys would acquire them.

Am more impressed that it still exists.

Pixy looks like a very interesting idea. I know for sure there is a market to replace tripods and selfie sticks. If it is easy enough to use that will be big money

Another app who's growth was related to the pendemic and expected it to last forever. Sooner or later its was going to be over and people would go back to "regular" life and usage would drop and with the revenue.

80% devaluation isn't fair it needs to drop 98% or more

Snap is a pump and dump stock. Don't be that naive in believing this company will be impactful for the long term. Stocks not contributing to American innovation is A joke and I'll be delighted in shorting the hype tickers

Snapchat was NEVER worth $140 billion. In fact, based on market fundamentals, it probably was never worth more than a few billion. Perhaps $5 billion at most. Everything beyond that was just wild greedy investor speculation and had nothing to do with the company or its product. So based on that, snapchat is probably still overvalued and needs to fall more.

They didn't destroy anything. It's just a transfer of money

Your videos are impressive sir

Its funny how they optimize snapchat app for apple users yet now apple new privacy policy is affecting their advertising revenue 😆

All the tech stocks are getting pummeled but some of them are either evil or not ran like a company designed to make money so all fine. Seems like a good time to invest in the more well-known brands because worst comes to worst companies like Snapchat will probably get bought anyway.

I totally forgot about Snapchat until I saw this video. Can't believe they are still around.