Why hasn't Evan stepped down and CFO gotten the boot?
This smells like a pump and dump scheme from the execs, bloating guidance 50% growth YOY? Someone please explain this, why is it that so many people had to lose their jobs because of such incompetence, but the morons on top get to stay? The remarkable stock price increase and fall are due to the unrealistic guidance given by the executives. I thought the CFOs job was to bring control and sanity to Business's bullshit. But in this case, the person running the Business is leaving for Netflix. The CFO, who was supposed to curb the horseshit and investment decisions, is still sitting there. How many acquisitions and products are being decommissioned? Snap Finance is a disgrace. They are either incomprehensibly incompetent or spineless buttlickers. #snap #snapchat
Do not doubt our supreme leader Kim Jung Spiegel please
You’ll learn. Execs are the very last to go.
Even those who deceive and lie?
This is America. To get ahead, you have to lie to your teeth.
Because he has voting majority
It was absolutely a pump and dump. They released news very carefully to offset negative performance to pump the stock as hard as they could. Go back and watch Evan’s interviews.. he was lying nonstop about business performance, DAUs, ad performance, and impacts from Apple. Go download and read their investor day material even. Additionally, Snap had end of quarter mad dashes to pump up DAU with push notifications that was basically spam to inactive users to get them to open the app, and crazy cost cutting initiatives stopping dozens of teams to find efficiencies even if they were temporary just to improve cost per DAU reporting. How’s there’s not been an investigation into the blatant lies is beyond me. Apparently you can say whatever you want in earnings to pump your stock
Spot on! There needs to be an investigation, this is absurd.
Yep. I’m sure plenty of ex-snap employees can attest to it. I left just recently and couldn’t believe how deceitful of a company it was to shareholders.
He conveniently renewed his Snap agreement until 2027 https://www.hollywoodreporter.com/business/digital/snap-q2-2022-earnings-1235183962/amp/ He’s going to bleed every dollar he can out of Snap
well... he built it 🤷🏻♂️
Yea, what were Peter and Jeremi’s interviews with Netflix like? “We are going to have a big firing day on this day, please take me”
Hahhaha! They must have been thinking ahead. If you are Netflix you’ve gotta be thinking . . . are you about sink a new ship.
Netflix probably got a buy one get one free deal
Oh no. I thought code monkeys made tech company succeed or fail. Non tech was just side show?h
Hey can u please dm me i am out of dms i need a referral please
Capitalism my friend