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True (though the inverse rarely happens).
And for Snapchat we could say that they were unfairly targeted by Meta: https://mashable.com/article/facebook-snapchat-data-project-ghostbusters-mark-zuckerberg
Yeah I have a bias/soft spot for Snapchat. Raising capital to grow the business didn’t workout so well.
Meta just copy pasted and killed the competition
You need to have a great product AND you need to be able to defend against the likes of Zuck and Elon. I think that Snapchat just got outcompeted. This happens and it's okay.
If I were Snap and I was sitting on a load of cash, then I'd invest in platform development or even M&A. Not park my cash in Bitcoin. Idle cash is dumb, no matter the denomination.
How when the appreciation over time can increase your R&D budget?
Can split the baby with the balance sheet!
Yeah but today’s winners could be tomorrow’s losers! Haha we never know who will win or lose in the long run.