Techmeme Ride Home (TWTR SPC) Whither The Creator Economy?
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Sep 3, 2022 
Joining the discussion are Kaya Urieff, a reporter on Snap and the creator economy, Simon Owens, a media newsletter writer, Matt Navarra, an independent journalist, and Corinne Podger, a digital media consultant. They tackle the struggles of Snap amidst fierce competition from TikTok. The conversation also delves into Substack's financial dynamics and the evolving landscape of monetization for creators. They emphasize the need for diversification and innovation within the creator economy and share insights on the challenges of navigating platforms and the impact of AI on creativity.
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Snap's Struggles
- Snap overhired, then laid off 20% of its staff and restructured.
- They struggled to define their identity, causing erratic stock trading and a refocus.
Meta and Snap's Identity Crisis
- Snap and Meta face similar challenges in defining their core identities.
- Both companies grapple with being social vs. entertainment platforms, influenced by TikTok.
Snap's Double Threat
- TikTok and Apple's ATT changes affect Snap, impacting its teen relevance and advertising.
- Less time spent on Snap due to TikTok hurts their young audience appeal for advertisers.