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(CNBC)   Social media company to lay off workers. Oh Snap   ( cnbc.com) divider line
    More: Sad, Business news site, Report, layoffs, smaller rounds, Anita Balakrishnan, Snap, headcount growth, pioneering photo  
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782 clicks; posted to Business » on 08 Mar 2018 at 8:35 AM (19 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



15 Comments     (+0 »)
 
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2018-03-08 06:41:54 AM  
snap out of it
 
2018-03-08 08:41:00 AM  
Sounds like the shareholders need to exercise their voting rights to influence leadership.
 
2018-03-08 09:26:45 AM  
Getting ready to be assimilated.
 
2018-03-08 09:48:16 AM  
Damn you, Kylie!
 
2018-03-08 10:21:20 AM  
The CEO got a $636.6MM bonus last year. The CSO got $100MM. The general counsel got $17MM and only started working there last summer.

Sorry they can't afford to keep 100 engineers on staff. That $10-20 million in salary & benefits was really a burden on the company.
 
2018-03-08 10:36:16 AM  
And this is why you hire contractors to build your product idea.
 
2018-03-08 01:55:25 PM  
I

Rapmaster2000: Sounds like the shareholders need to exercise their voting rights to influence leadership.


sounds like they are yesterday's news. Snap ain't coming back.

/these networks are all faddish.  Facebook et al.  I think twitter never be profitable but it has staying power as long as they don't fark with it too much. It's simple, just post messages and pics and tag.  That's all that's necessary
 
2018-03-08 02:24:51 PM  
The teenagers in our family switched to Instagram, so this makes sense
//and they are still not paying for anything
 
2018-03-08 03:51:09 PM  

uber humper: /these networks are all faddish.  Facebook et al.


I don't blame you for that position, but Facebook is the big player still. They've been around for 15 years now (it's older than YouTube??). They're very profitable and have a strong position as the "yellow pages" of the internet. Whether that will continue another 15 years is unclear, but of all the social networks they are the one with the clearest monetization strategy and the one with the most staying power so far. They also own Instagram.
 
2018-03-08 03:55:33 PM  
On that subject, Facebook reported 2017 annual net profit of $16 billion dollars, a growth of 56% from 2016.

Twitter did $2.4 billion in total revenue. Snap had $825 million in revenue. Both lost money for the year.
 
2018-03-08 05:19:41 PM  

dukeblue219: The CEO got a $636.6MM bonus last year. The CSO got $100MM. The general counsel got $17MM and only started working there last summer.


Those are some expensive millimeters.
 
2018-03-08 05:28:02 PM  

dukeblue219: uber humper: /these networks are all faddish.  Facebook et al.

I don't blame you for that position, but Facebook is the big player still. They've been around for 15 years now (it's older than YouTube??). They're very profitable and have a strong position as the "yellow pages" of the internet. Whether that will continue another 15 years is unclear, but of all the social networks they are the one with the clearest monetization strategy and the one with the most staying power so far. They also own Instagram.


img.fark.netView Full Size


facebook is taking some big hits. https://www.fastcompany.com/40541656/​c​hances-are-youre-spending-24-less-time​-on-facebook
 
2018-03-08 08:57:51 PM  

dukeblue219: The CEO got a $636.6MM bonus last year. The CSO got $100MM. The general counsel got $17MM and only started working there last summer.

Sorry they can't afford to keep 100 engineers on staff. That $10-20 million in salary & benefits was really a burden on the company.


Interesting that you think that the objective of a firm is to provide jobs.
 
2018-03-09 07:18:44 AM  

bronyaur1: dukeblue219: The CEO got a $636.6MM bonus last year. The CSO got $100MM. The general counsel got $17MM and only started working there last summer.

Sorry they can't afford to keep 100 engineers on staff. That $10-20 million in salary & benefits was really a burden on the company.

Interesting that you think that the objective of a firm is to provide jobs.


Maybe he's a supply-side conservative who thinks for some reason that if you lower taxes, firms will use the money to create jobs.
 
2018-03-09 12:12:40 PM  
The last update was horrible. That's all I have to add here.
 
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