Snap (formerly known as Snapchat) is a one-app, one-hit wonder whose financial fortunes are worsening by the quarter. It’s stunning to see these collapses, and even more stunning that people are surprised.
Below is a lifetime percentage chart of the company. For those who got in at the ground floor when the company went public half a decade ago, they’re enjoying returns of about negative 60% right now.
Although the company’s founder is doing fine, in case anyone is wondering.
