Snap Is the Canary in the Ad Coal Mine
Last week, Snap reported a disaster of an 2Q22 earnings report and conference call. Snap went from having 50% revenue growth to pretty much no growth in a year. Even though the company had previously warned results would be bad, things were even worse than expected. Snap’s problems, which are long and varied, serve as a warning for nearly all ad-based business models. Things are going to become turbulent.
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