back to article Oh Snap! Rap for crap chat app brats in nine-month $3bn scrap flap

Shares in (former) social media darling Snap Inc. are understandably tanking today after the photo-spaffing service said it was losing more money and gaining fewer users than anticipated. The Q3 report, out today, found the upstart recording losses that were more than double its revenues while user growth also slowed and a …

  1. Youngone Silver badge

    Everythings Fine

    So Snap's losses are similar in scale to Ubers?

    Everything will be fine then.

    1. Anonymous Coward
      Anonymous Coward

      Re: Everythings Fine

      Uber still has its investors convinced there's a pot of gold at the end of the rainbow because there are so many markets left for them to expand into, and there's the unicorn in the future of self driving cars so they don't have to pay drivers. So the suckers investors tolerate the losses because they think they won't last forever.

      1. CrazyOldCatMan Silver badge

        Re: Everythings Fine

        there are so many markets left for them to expand into

        The Uber business plan:

        1. Lose money in their home market.

        2. Expand into other markets

        3. Lose even more money in those markets

        ..

        ..

        9. Profit! But only for the Uber execs..

  2. Anonymous Coward
    Anonymous Coward

    Why can't you or me ....

    Come up with a crappy social media idea that even after you commit privacy suicide on several occasions, users still don't desert you. Even when you declare in your IPO that you've never made money and probably never will, investors still flock - making you billions after billions.

    WTF?

    Are we living in a era of total reality-distortion-field or what? ... Meantime Diaspora slumped into oblivion, and no one has come up with any alternative Privacy-led solutions. So to the users, to the investors.. My tech brothers and sisters in this world... It seems I've got nothing in common with you. You're not sheep.... Maybe you're ants or something???

    1. Milton

      Re: Why can't you or me ....

      "Maybe you're ants or something?"

      In the words of Mycroft Holmes, "goldfish".

      And the goldfish are like tiny sharks, driven by sentiment, primaeval cunning, limitless greed and lacking anything resembling rational reflectiveness.

      Hence Snap, Uber and other soulless attempts to squeeze cash from people for services at best pointless (Snap) and at worst loathsome (Uber).

  3. Anonymous Coward
    Anonymous Coward

    But the CEO & C. got rich, they'll keep the scam alive as long as they could. Once money are safe in some paradise, who cares?

  4. trevorde Silver badge

    Next big idea

    *Burn* money to heat people's homes. You heard it here first.

  5. The Nazz

    Disruptive - 3rd last paragraph.

    It's one thing being disruptive to an industry's less than loved incumbents eg Uber.

    A whole new ball game being disruptive to oneself.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Other stories you might like