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#22 How To Turn Down A Billion Dollars: The Snapchat Story

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Mar 20, 2018
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ADVICE

Originality

  • Create original ideas to avoid competition.
  • Originality offers greater financial rewards and less competitive pressure.
INSIGHT

Facebook's Influence

  • Facebook inadvertently created the perfect environment for Snapchat's rise.
  • Teens feared the permanence of Facebook posts, creating an opportunity for ephemeral messaging.
ANECDOTE

Early Criticism

  • VCs and peers initially dismissed Snapchat as a "sexting app" during Evan Spiegel's pitch.
  • This mirrors Phil Knight's experience with Nike, highlighting how groundbreaking ideas are often misunderstood initially.
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