
Fired Snap employee wants judge to unseal evidence of inflated user numbers - JumpCrisscross
http://finance.yahoo.com/news/fired-snapchat-employee-wants-judge-173145393.html
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CaliforniaKarl
I assume user numbers aren't audited in the same way that financial
information is (that is, with GAAP and external auditing). For example, I
looked at Facebook's Q3 Form 10-Q, and there wasn't anything there about user
numbers.

It would be interesting if publicly-traded companies could have a "key
metric", a non-monetary, objective (so, not stuff like "user satisfaction"),
numeric, auditable value that the company says "This number is stated as
firmly and as clearly as our Financials. Judge us on this.", and which is
included in the 10-series forms (10-K and 10-Q).

Of course, you might not trust such a number, but this makes falsification
much more dangerous.

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MegaButts
I realize this isn't based on data, but people have been saying for a long
time that SNAP will be the end of the tech bubble. It would be interesting if
that happened to be true because SNAP was built on fraud. I don't think people
would care nearly as much if SNAP was posting a profit, but after glancing at
their financials they don't even predict when that will happen, so their
entire selling point is - if Pompliano is telling the truth - predicated on
lies.

