TIVP051: Snap Inc. (SNAP): Why Hasn’t Snapchat Become a Social Media Titan? w/ Shawn O’Malley & Daniel Mahncke
The Intrinsic Value Podcast - The Investor’s Podcast Network
AI, My AI, and Subscription Limitations
They critique Snap's AI chatbot metrics and Snapchat Plus subscription as vanity metrics with limited profit impact.
Shawn and Daniel break down Snap Inc., a camera-based social media platform with nearly one billion monthly users.
IN THIS EPISODE, YOU’LL LEARN: 00:00:00 – Intro
00:08:25 – Why Snapchat, being a founder-led company, is less than ideal in this case
00:09:15 – Why Snapchat is unlikely to be acquired any time soon
00:17:49 – How Snapchat almost didn’t become a hit, and what made it suddenly so popular
00:39:24 – Why growth internationally is actually worsening Snapchat’s unit economics
00:45:12 – What to know about how the company is dipping its toes into artificial intelligence
00:48:01 – Whether subscriptions can save Snapchat’s business model
00:57:55 – Why it has been so much harder for Snapchat to make its unit economics work relative to peers
01:07:08 – How to think about modeling SNAP’s intrinsic value
01:07:29 – Whether Shawn and Daniel add SNAP to their Intrinsic Value Portfolio
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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- Shawn & Daniel use Fiscal.ai for every company they research — use their referral link to get started with a 15% discount!
- Snap’s investor relations page.
- Acquired’s podcast coverage of Snap.
- Why Snap CEO Evan Spiegel is betting on smart glasses.
- Explore our previous Intrinsic Value breakdowns: Transdigm, Salesforce, Berkshire Hathaway, FICO, PayPal, Uber, Nike, Amazon, Airbnb, Alphabet.
- Related books mentioned in the podcast.
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