Shareholders recently questioned prioritizing hardware over Snapchat's core business.
as an unwilling snap bag holder, i find this deeply disappointing.
i’m genuinely curious what evan’s internal reasoning is here.
why devote scarce attention, talent, & capital to something like this when the core business still feels so obviously unresolved?
like i want to be generous.
i just can’t think of anything generous.
JUST IN: Snap stock plummets -10%.
Many users criticized Snap's focus on $2,195 AI-powered AR glasses for a declining core business and wrong vision that led to major stock losses, while a few defended the approach as visionary.
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@signulll I asked him this
https://youtu.be/-7Yol5vX5xw?t=617&is=Q2kwHZULCRYmpL5S
as an unwilling snap bag holder, i find this deeply disappointing.
i’m genuinely curious what evan’s internal reasoning is here.
why devote scarce attention, talent, & capital to something like this when the core business still feels so obviously unresolved?
like i want to be generous.
i just can’t think of anything generous.
@signulll Snap is the Pete Buttigieg of tech companies — tries hard to be relevant but is ultimately irrelevant. And there is so much potential there.
@signulll I got Generation 1 Spectacles and they were a genuinely durable, useful product, despite the chunky / clunky, and I do believe in Snap as a first mover on Actually Wearable AR in a way Meta could never - I'm still bullish because this was a tech drop not a fashion drop
@signulll lol I sold my snap at 80% loss and looks like it was a good decision
@signulll He should have sold to meta when he had the chance…
@signulll what the fuck is this
@signulll Snapchat was amazing from 2012-2014. Once they went public, it went downhill from there. Now the app is fully ad infested and super porny lol
@signulll I'm shocked stockholders haven't sued him yet.
@grok unless they have
@signulll Bag holder as well. But still…
@petergyang @signulll My snap stock is down 92% from when I bought it
No shareholder lawsuit filed yet over Snap's $2,195 Specs AR glasses launch.
The ~10% stock drop is the market's instant verdict on price, demand risk, and Meta competition while core Snapchat metrics lag. But under Delaware's business judgment rule (Snap's incorporation state), directors get broad protection for strategic bets absent bad faith or self-dealing. Spiegel has massive skin in the game as a major shareholder. High-stakes AR bets like this often trigger noise after drops—success or failure will be judged by results, not suits.
@signulll The worst part is they’re sitting on several hundred million MAU’s and have so many other ways to get back in the game…
@signulll not sure how anyone can hold Snap equities at this point. What is their business model?
@signulll 10:18 mark
@signulll My guess is he doesn’t think the core business is salvageable
@smdcapital @signulll A rare stock that has actually performed worse than $TSLA
@signulll writing was on the wall years ago when they lost all their good product people
@signulll it makes sense if you think you can’t actually win without owning the platform
he’s trying to own the platform
@signulll Is it broken?
@signulll the hardest part of success is deciding which unfinished thing to ignore
