Discussion

• @themediaisdying @themediaisdying on x

  That's a lot of staff. https://twitter.com/...

• @cjthesmartguy @cjthesmartguy on x

  First the crypto industry, now the tech industry... this is how recessions snowball https://twitter.com/...

• @eric_seufert Eric Seufert on x

  @om ... I cant imagine that happening. Y/Y growth has slowed (-1% last Q, +3% on constant-currency basis) but the company is still incredibly profitable. Also: Meta has already made meaningful progress in adapting to privacy environment — Snap, per last Q, is just starting.

• @pierce David Pierce on x

  Oof, that's a big big number for Snap https://twitter.com/...

• @hedgeyecomm @hedgeyecomm on x

  20% is still a large # $SNAP - smaller than the 50% top-line growth forever guidance they gave in Feb 2021 though. https://www.theverge.com/...

• @fullbeerbottle @fullbeerbottle on x

  Snap back to reality, Oh, there goes gravity https://twitter.com/...

• @carnage4life Dare Obasanjo on x

  Looks like I missed the news of 20% layoffs at Snap which makes losing two senior ad execs to Netflix less of a surprise. The layoffs are a far cry from the company announcing in February of this year that Apple's privacy changes have no effect on them. https://www.theverge.com/.…

• @alexeheath Alex Heath on x

  @eric_seufert ... Co-sign Eric. Also, Meta is doing forced attrition as I outlined here https://www.theverge.com/...

• @theryanford Ryan Ford on x

  This is a hell of a notice. Snap employees now get to experience the total anxiety of 24 hours of waiting to see if they still have a job. https://twitter.com/...

• @tessak22 Tessa Kriesel on x

  Knowing but not knowing yet is absolutely brutal. https://twitter.com/...

• @jason_kint Jason Kint on x

  Perfect hires. Congrats to both. https://twitter.com/...

• @editorialiste @editorialiste on x

  “Like its other tech peers, Snap hired aggressively during the pandemic ... the problem is that Snap's business hasn't fared well coming out of the pandemic.” https://twitter.com/...

• @jason @jason on x

  Serious RIFs still rolling in, lbut the open jobs number still high feels like we're triangulating the true bottom, which is a healthy but painful process. https://twitter.com/...

• @alexeheath Alex Heath on x

  @om @Meta Would never rule out, but it's quite a different situation from an EBITDA margin / scale perspective

• @joannastern Joanna Stern on x

  Sad to see the cut backs in AR hardware. Snap is doing some of the most interesting stuff right now in AR. https://twitter.com/...

• @fosspatents Florian Mueller on x

  From @alexeheath's article: “thanks to recession fears and the trouble it had navigating Apple's crackdown on ad tracking across iOS apps” though “user base has continued to grow strongly”. That's the same Snap that tried to help Apple against @TimSweeneyEpic on last day of trial…

• @om @om on x

  @alexeheath ... Given how much of the larger economy and startup ecosystem is in trouble, they will probably be more impacted. The slowdown isn't fully factored into all forecasts and it be interesting to watch. They have adapted, but might be time to use this San excuse to be “l…

• @om @om on x

  @alexeheath @Meta The scale of their problems is bigger as well. I wouldn't be surprised and it could be soon!

• @akruglov Alex Kruglov on x

  What worries me here as a shareholder is that they seem to be cutting areas where I was seeing future growth (e.g., games, micro-transactions, new products). Hope to be proven wrong... $SNAP https://twitter.com/...

• @sarafischer Sara Fischer on x

  #BREAKING: Major @Snap restructuring, per Evan Spiegel memo just went out — 20% layoffs (1200+ staffers) — Investment pullbacks in originals games, selfie drone “Pixy” & “Minis” — Jerry Hunter promoted to COO — Anticipates $500M savings Story on @axios: https://www.axios.com/...

• @alexeheath Alex Heath on x

  Snap confirms that it is laying off 20% of employees and cancelling several initiatives, including its original shows and in-app games https://t.co/5ApA571o0l https://t.co/yfX2hKlk4V

• @pt Parker on x

  With Netflix falling from grace and Facebook rebranding as Meta is FAANG now just MAGA? 🤔

• @epro Emil Protalinski on x

  Netflix should have just bought Snap and experimented with games and other revenue sources there, keeping its streaming service as the premium tier with no ads. https://twitter.com/...

• @deancollins Dean Collins on x

  Did either of these guys deliver at Snap? Seems a weird hiring choice. https://www.wsj.com/...

• @carnage4life Dare Obasanjo on x

  Snap is losing both its ads business leader and top ad sales exec in the Americas to Netflix as the streaming giant adds an ad-supported tier powered by Microsoft Advertising. Not a good sign for Snapchat. https://www.theverge.com/...

• @tim_bays Tim Baysinger on x

  Huge for Netflix and maybe a bad sign for Snap https://twitter.com/...

• @alexeheath Alex Heath on x

  Snap's two top ad execs leave for Netflix the same week that Snap begins mass layoffs https://www.theverge.com/...