
… that we could live in a world where Twitter could be worth just 1/10th of what Facebook was worth. So far, I’ve been both right and very wrong there: Twitter is now worth le… that we could live in a world where Twitter could be worth just 1/10th of what Facebook was worth. So far, I’ve been both right and very wrong there: Twitter is now worth less than 1/30th what Facebook is worth (in terms of valuation).
That means to get the most out of Snapchat, advertisers have to do special work and can’t just reuse their existing assets they’ve created for TV, YouTube, etc to advertisers. This friction means they will see fewer ads from advertisers than their competitors do and will always be leaving money on the table.
For Snapchat to be valued at 2x Twitter it implies the market thinks Snapchat will be 2x better than Twitter along one or more of these metrics. This seems like a strong combination of wishful thinking and believing in alternative facts