TikTok's massive investment in user acquisition and content buying has made it challenging for companies to respond. Their strategy was to subsidize both sides of the marketplace, with artificial intelligence making it more personalized for users. ByteDance's investment in the US market was unimaginable, as no startup could afford to invest billions in user acquisition globally. This was different from any tech company's previous strategy, as it wasn't innovation-led but focused on large-scale user acquisition.
2022 has been a difficult year for Snap, Inc. Shortly after announcing layoffs, Snap CEO Evan Spiegel sat down with Kara and Scott to discuss the challenges facing his company, and why he thinks they can be overcome. Recorded on September 7 at Code 2022 in Los Angeles.
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