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Snap CEO Evan Spiegel Is Not Afraid of Facebook (recode.net)

Posted by msmash on from the tearing-to-pieces dept.

An anonymous reader writes: Snap CEO Evan Spiegel addressed on Wednesday what many have been hoping he would address for months: What he thinks about Facebook and the fact the social giant is copying all of Snapchat's best features. On Snap's Q1 earnings call Wednesday, Spiegel was asked bluntly: "Does Facebook scare you? Why or why not?" Spiegel laughed. Then talked about how important it is to be creative. Then said this: "At the end of the day, just because Yahoo, for example, has a search box, it doesn't mean they're Google." Fun fact: Yahoo is an investor in Snap.

42 comments

  1. Heh... by the_skywise · · Score: 5, Funny

    Yoda voice: "aahhh... You willl be.... YOU WILL BE!"

    1. Re: Heh... by Anonymous Coward · · Score: 0

      I've heard about Yoda guy, but who is this snapchat and facebook?

    2. Re: Heh... by slashdice · · Score: 1

      After you grease up your yoda doll and shove it up your ass, you can post the pictures on facebook and snapchat so other people can "like" them Snapchat actually has filters so you don't even need to shove the greased up yoda doll up your ass but that's kind of missing the point.

      --
      Copyright (c) 1990 - 2014 Dice. All rights reserved. Use of this comment is subject to certain Terms and Conditions.
  2. SNAP Stock by cmseagle · · Score: 4, Informative

    Maybe he should be...

    SNAP share price has dropped 20% in the past 24 hours.

    1. Re:SNAP Stock by Anonymous Coward · · Score: 0

      "Hey guys our adjusted EBITDA was two dollars of loss a share! Our bad. Oh also you have no voting rights. Sorry bros."

      gg Evan. You sure duped the shit out of a lot of muppets.

    2. Re: SNAP Stock by Anonymous Coward · · Score: 0

      It is going to be a $5 stock

    3. Re:SNAP Stock by imgod2u · · Score: 1

      FB stock IPO's at $38 in May of 2012. By August of that year, it was at $18.

      Share price post-IPO isn't a very good indicator of long-term success.

    4. Re:SNAP Stock by Anonymous Coward · · Score: 0

      Share price isn't a good indicator of anything anymore. Between the computers and all the stupid money out there, I think one would be better off in Vegas - at least you KNOW the odds.

      Stupid Money: After years of Quantitative Easing and very low interest rates, capital needing returns has resorted to gambling in the equities markets.

    5. Re: SNAP Stock by Dunbal · · Score: 1

      It's going to be a zero dollar stock and people will wish they could still get $5 for it.

      --
      Seven puppies were harmed during the making of this post.
    6. Re:SNAP Stock by Dunbal · · Score: 1

      At least Facebook actually has a business model of sorts.

      --
      Seven puppies were harmed during the making of this post.
    7. Re: SNAP Stock by Anonymous Coward · · Score: 0

      I guess you're technically right. Very briefly on its way to a sub $1 stock. Dozens of law firms are already circling like sharks ready to launch the class action lawsuits on "behalf" of shareholders.

    8. Re:SNAP Stock by Anonymous Coward · · Score: 0

      just like your mom's panties.

    9. Re:SNAP Stock by Anonymous Coward · · Score: 0

      They didn't

    10. Re:SNAP Stock by Anonymous Coward · · Score: 0

      It's standard for the first earnings report to miss the mark, anyone who read their guidance knew it was going to happen. And anyone with a pulse knows that 9 times out of 10 an IPO pops and then comes down 30-50% before either stabilizing and becoming a legitimate going concern (facebook) or a zombie (twitter).

      Will SNAP be a zombie or a going concern?

      My money is on the zombie. Network effects are nasty headwinds, and creativity isn't going to be enough to deal with it, after all any feature that works will be copied quickly. Then combine that with another dose of reality, SNAP's early adopters are going to start getting married and having kids which means WAY less social media interaction. You don't post pictures of your kid to Snapchat so it can disappear in 20 minutes - you go to instagram or facebook and share it within your network of relatives, friends etc who never use snapchat.

      Wall Street's valuation reflects this being a company that supports .5B or more users in five years, and though I hope I'm wrong, I don't see how they can manage it. They're positioning themselves as an AR company, but even that is a losing proposition. Facebook, Apple and Google all have stated as much as well, and have huge war chests. Snap's glasses were a great PR move, but the people who bought them don't use them so it'll be awhile before that really takes off AND I'm not sure how they can hope to compete as a social media company AND a hardware company.

  3. NICE TOUCH by Anonymous Coward · · Score: 3, Funny

    "Fun fact: Yahoo is an investor in Snap."

  4. Bad example by DavidB · · Score: 4, Funny

    It should be more like, "just because Google has maps doesn't mean that Mapquest is obsolete. No, wait...".

  5. Snapchat's Best Feature Was Copied by Luthair · · Score: 1

    from software shipped 10-years ago with webcams.

    1. Re:Snapchat's Best Feature Was Copied by EndlessNameless · · Score: 1

      Yes, but this is CLOUD-ENABLED.

      --

      ---
      According to the latest ruleset, this post should be modded as Vorpal Flamebait +5.
  6. Perhaps not afraid of Facebook by zifn4b · · Score: 1

    But I would be very afraid of a projected $2 billion loss in 2017 and this: https://www.google.com/search?...

    Pride goeth before destruction, and an haughty spirit before a fall, dude

    Lot of people on this planet can talk a great game but can't deliver. Talk is cheap. Data wins, fatality.

    --
    We'll make great pets
    1. Re:Perhaps not afraid of Facebook by Anonymous Coward · · Score: 0

      Well, he's worth $5 billion personally, and I bet it's not all in Snap stocks. A massive pile of $$$ can cushion even the hardest of falls.

    2. Re:Perhaps not afraid of Facebook by zifn4b · · Score: 1

      Well, he's worth $5 billion personally, and I bet it's not all in Snap stocks. A massive pile of $$$ can cushion even the hardest of falls.

      Don't care. He should cut his losses and retire out of the public's eye instead of being an egotistical prick. We have enough of those already.

      --
      We'll make great pets
    3. Re:Perhaps not afraid of Facebook by LynnwoodRooster · · Score: 1

      But I would be very afraid of a projected $2 billion loss in 2017

      Fully agree! Now, if it was a $3 billion loss, like Uber last year, then everything would be awesome and they'd be worth $60+ billion. This just tells me Evan doesn't know how to spend money fast enough!

      --
      Browsing at +1 - no ACs, I ignore their posts. So refreshing!
  7. No, I wouldn't be afraid .... by dasgoober · · Score: 1

    ... if I could cash out and not hafta work for the rest of my life.

  8. He has no reason to be afraid by Anonymous Coward · · Score: 0

    Facebook sucks and is on the way out. Snapchat is lit.

    1. Re:He has no reason to be afraid by Anonymous Coward · · Score: 0

      Found the millenial.

  9. Facbook is equally replacable by sinij · · Score: 1

    If Facebook can kill off Snap by copying features, then it follows that Facebook can also be killed off by coping its features.

    1. Re: Facbook is equally replacable by Anonymous Coward · · Score: 0

      Just because we should, doesn't mean we should. Wait I messed that up. Just because we should...ahhh fuck it, blow it up.

    2. Re:Facbook is equally replacable by gander666 · · Score: 2

      The challenge to just copying FB is that they have nearly 2B active users. That provides a lot of momentum, and a huge barrier to entry for even the best funded competitors. Google had the best chance with Google+ and they couldn't pull it off. I still am surprised when G+ sends me a notification. Is it still alive? Sheesh.

      --
      Suppose you were an idiot and suppose you were a member of Congress ... but I repeat myself. - Mark T
    3. Re:Facbook is equally replacable by AvitarX · · Score: 1

      facebook is harder to replace, as it already has the users.

      --
      Wow, sent an e-mail as suggested when clicking on "use classic" banner, and got a fast response that addressed my msg
    4. Re:Facbook is equally replacable by farble1670 · · Score: 1

      Everything is replaceable. It's just software. Facebook is not being replaced in fact there are not even an contenders to speak of. OTOH, Facebook is actively gunning for Snap and has a history of copying and decimating other services.

    5. Re:Facbook is equally replacable by spire3661 · · Score: 2

      Google had no chance because they forced it. If they hadnt been pricks about it, more people would have used it and the outcome might have been different. The real-name push was fucking ugly. Its like they learned nothing from when Blizzard tried it.

      --
      Good-bye
    6. Re:Facbook is equally replacable by Anonymous Coward · · Score: 0

      Network effects brah, network effects.

      MySpace's network effects weren't nearly as pervasive when Facebook came up - but at this point, good luck sailing into that headwind.

      Snapchat gained traction because it provides a space for the younger generations to do the social media thing without older generations being up in their business. So there's some high schooler out there who is going to figure out how to become Snapchat to her cohort and they'll end up eating the newest generation while Snapchat attempts to fight the network effect that is Facebook to retain their older millennial who will leave the Snapchat ship upon marriage and kids entering the picture.

      Facebook can copy and kill because it has Snapchat surrounded - this is what a modern day siege looks like.

    7. Re: Facbook is equally replacable by Anonymous Coward · · Score: 0

      To Commentator above, what He or She wrote is so on da ðY'. En the new erra U need somebody business savvy, grown-up, and I alwayz put my chips on can-dos with old ðY cohonez , brass & silver tanks b/c the younger generation never played chess on a wooden board or play with their Pals in their bedrooms or even outside for that matter. Milliniums HV Real Cool Vision, but it Hawt, dey don't know Greece yet... Happy to C 'Em try though, and, once they get a little burned and C the Real World, lose A bet or 2, they'll B that much stronger....

      B Bless slashdot, and Stay Cool

    8. Re: Facbook is equally replacable by Anonymous Coward · · Score: 0

      in English?

    9. Re:Facbook is equally replacable by ninthbit · · Score: 1

      It doesn't help that the interface was disgusting too. It's almost as if they didn't want it to succeed but someone said "do it, we need this". I can't think of a redeeming quality Google+ had. They even tried to break YouTube with it.

  10. Snap is Yahoo in that analogy right? by Nogrial · · Score: 0

    I mean they have to be....

  11. He's obviously afraid, but CEOs lie by Anonymous Coward · · Score: 0

    Why would a CEO that wants to trick more people into investing be honest? "Yes, we're terrified, and we've only got three years left, tops. I kick myself everyday for not selling when I had the chance, but I'm really, really greedy. Next question?"

  12. study the financials by supernova87a · · Score: 1

    [all numbers below approximate for commentary purposes...]

    Interesting that a company which took in $150 million in revenue in the last year, paid out $2 billion to all of its option holders and employees. It's almost as if modern tech companies are just vehicles for approximately 500 people to get rich after conducting the right social experiment that users seem to enjoy... And the investor / VC community is looking for the next one that does this and gives them the same returns, who cares what the technology is. "We'll buy anything!"

    Amazing what our collective social likes and dislikes manage to power, when harnessed by some small group that's figured out how to monetize it. I think that's the greatest wealth inequality of all these days...

    1. Re:study the financials by Anonymous Coward · · Score: 0

      I very much agree with this; there's a whole class of startups that are more financial instrument than sustainable company.

      To make matters worse, the massive amount of cash sloshing around these companies is distorting the market. The sooner all of this comes to an end the better. Companies with a sustainable model will still grow in a reduced liquidity environment while the rest of these companies will thankfully disappear.

    2. Re: study the financials by Anonymous Coward · · Score: 0

      I am noticing an Ugly Negative Trend here @ one of my all time Favorite Public Bulliton Boards. What many ppl in many boards R failing to C is that communities -and- public debate can work in commercial sectors, if however temporary or not, 2 promote social Good. Slashdot too has Ads & Collects something. To me, I call it: Value. This Value Kan be added back Responsibly to Twitter, SnapChat, Google YouTube, FB, and many others through networks whom HV commercial stakeholders & commercial Interests. B/C @ the end of the Day We All indeed do own all this property, all these posts, all this library of information ( or often called "content" ) - and I as A Free Thinking American take it like it is & do my Best, by my doing my part, of staying Tru to Libre Communication across the Broad Oceans connecting our commercial & shared interests however they R @ present moments & calmly deal wit it, in real time, unafraid, yet, still afraid of old bad ideas repeated by being hasty, sloppy, and too qwik to be mad. What I do iZ say, learn from Momma First, she the Earth. Don't feed the Red Wolf. Ty Slashdot; Young & Old thinking & conversing together.

      Namaste

  13. CEO Hypes Company, Film at 11 by Anonymous Coward · · Score: 0

    Think about this. This was the CEO of a company talking in front of the people who effectively decide his pay (via their buying and selling of company stock). What would you expect him to say?

    "Why yes, I'm absolutely terrified of Google. I don't see how we'll survive until 2019 at the current rate, but we have a lot of smart people researching things and I hope to figure it out."

    Next thing you know, we'll be reporting how the ExxonMobile CEO has reported that global warming is at most a minor and solvable issue which doesn't need looking at for decades, that the head of Habitat for Humanity thinks that homelessness can be solved with increased funding to his organization, and that President Trump says there is no truth behind the allegations of his ties to Russia and his family making money off of their connections to the Presidency.

  14. Creativity at Snapchat by ZipK · · Score: 1

    Spiegel laughed. Then talked about how important it is to be creative.

    Does that include Reggie Brown's creativity? http://www.businessinsider.com...