Snapchat laid off 20% of it's workforce RIP

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How will we send nudes now??

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Awful thing to happen but Honestly this doesn’t really have to do with the economy as much as it does the company in general. Look at their cash flow they lose like half a billion every quarter

I hope they all land on their feet

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My apologies I mean to put net income instead of cash in my first post never bothered editing. Regardless if you look at their revenue by quarter it isn’t like they dropped out of the sky. Q2’22 had higher revenue than Q3’21 and Q4 trends the highest every year as advertising budgets are burned during the holidays which is common knowledge. Either their leadership is so poor they bet the house (20% of their workforce) on astronomical revenue growth in the next two quarters or the business model is just crap.

The story has nothing to do with revenue

It sucks but I don’t really know how they were monetized in the first place. Where is the revenue coming from?

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Data and ads, like any other social media app

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You mean they disappeared

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Its*

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They really should have taken an acquisition offer

Just saw the article today. I feel sorry for those included in the layoff. Hope they can find a new job at anytime soon.

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