
Snap Says DOJ and SEC Are Investigating IPO Disclosures - raiyu
https://www.bloomberg.com/news/articles/2018-11-14/snap-says-doj-and-sec-are-investigating-ipo-disclosures
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koboll
Does anyone see a path to Snap continuing to exist 10 years from now?

I just don't see what they bring to the table that can possibly keep them
afloat much longer.

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Jonovono
I think what they bring to the table is drastically different than anything
else out there. Although, admittedly imo they have lost their ways and people
are moving to Instagram as an alternative (myself included).

But what separates them, and what they think people will eventually realize is
that living in the moment is healthier, more rewarding and authentic than
doing things for the purpose of likes and attention. Instagram is touching on
this with stories that they copied but the entire Instagram platform just
feels grimy overall (and snap is starting to feel that way as well with their
uncustomizable discovery page).

So the path I see is them really focusing on authentic communication, and
making the best ways to let friends share their true selves without worrying
about likes because that's when you can have more fun. I think instead of
being a camera company snap should be the 'moment' company. To me, there are
lots of ways to enable people to have engaging experiences with others in the
moment outside of a camera.

This video by Evan sums up the difference well too:
[https://www.youtube.com/watch?v=SQYBLeV6sbM&t=7s](https://www.youtube.com/watch?v=SQYBLeV6sbM&t=7s)
and also see Kanyes tweets
([https://twitter.com/kanyewest/status/1042779425048211456?ref...](https://twitter.com/kanyewest/status/1042779425048211456?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1042779425048211456&ref_url=http%3A%2F%2Fwww.xxlmag.com%2Fnews%2F2018%2F09%2Fkanye-
west-jack-dorsey-twitter-changes%2F)) on the matter :p

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stanleydrew
> people will eventually realize is that living in the moment is healthier,
> more rewarding and authentic than doing things for the purpose of likes and
> attention.

I have nothing to back this up other than intuition, but I think this is a
stretch. People love and live for attention and validation.

That's not to say the world wouldn't be a better place if more of us didn't
give a shit about the 'gram or whatever. But it seems like people definitely
do, and I don't think we can stop them.

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Jonovono
Oh totally, it's a big bet that people will come around. Some trends that give
me hope is the increased interest in meditation, yoga and the ideas becoming
more 'mainstream' with people like Kanye and others talking about it. But
still, it's like trying to compete with cocaine and a wild all nighter while
you're selling a home cooked meal and a movie with a couple of your close
friends that go home before midnight.

But I also don't think it has to be one or the other. Both can have their
place.

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alexnewman
“ it’s a big bet”-> is this different then a long shot?

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Jonovono
Same thing? Long shot, hail mary, moonshot. All work :p

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ajcodez
Spectacles was a flop. Snap Map was a flop. Discover as a separate section
leaves much to be desired (Daily Mail thanks for the consistent cleavage /s).
Instagram ate stories and interactive filters. It’s been over for a while now.

~~~
mrguyorama
Seriously I really wish I could stop having unwanted softcore porn show up in
my discover section, since that's how I access friend's stories.

I would have switched to Instagram a long time ago if it wasn't the devil that
is Facebook.

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arrty88
If they thought snaps IPO was bad, what about Ben Horowitz's loud cloud IPO?

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jannes
How is that relevant?

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arrty88
We’re talking about not disclosing important info at the time of IPO.
Loudcloud was weeks from not being able to make payroll as they incorrectly
stated cash designated for lease payments as free cash.

My point is the SEC only punishes selectively.

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bruceb
Does anyone have a copy of the 15 minute Snap pre IPO roadshow video? I have
tried to find it before with no luck.

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throwawayinside
The DOJ that helps Facebook “fight election fraud” while benefiting from
access to its data firehose has time to sniff around at Snap, which will only
drive its stock price lower, which further helps Facebook weaken one of its
only direct rivals.

This is why it pays to be corrupt. Notice there’s not even a thought of an
antitrust trial in the opposite direction.

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econner
But realistically what is Facebook doing that could be considered
anticompetitive?

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notsoold
Ben Thompson at Stratechery writes thoughtful pieces around this for a start:

\- [https://stratechery.com/2017/why-facebook-shouldnt-be-
allowe...](https://stratechery.com/2017/why-facebook-shouldnt-be-allowed-to-
buy-tbh/) \- [https://stratechery.com/2017/manifestos-and-
monopolies/](https://stratechery.com/2017/manifestos-and-monopolies/)

