Snap keeps its data very close to its vest according to a report in The Daily Beast. The publication's tech reporter Taylor Lorenz who broke this story explains data she uncovered that suggests Snapchat is much more of a chat app than previously perceived.
"I got a hold of 5 months of daily active user information for nearly every feature of the app," said Lorenz. "Only about 20 percent of the app's users use Snapchat Discover." Lorenz said this could be disappointing to Snap investors.
"Internally the consensus is if the stock drops below $10 a share for a significant period of time I think they would walk," said Lorenz who interviewed several former and current employees for this story. Snap is currently rolling out a redesign of the app. Lorenz says this could be a "make or break" moment for the platform.
President Joe Biden said Tuesday it remains to be seen if artificial intelligence is dangerous, but that he believes technology companies must ensure their products are safe before releasing them to the public.
JPMorgan CEO Jamie Dimon said the U.S. and the banking industry should amend regulations following the collapse of Silicon Valley Bank and Signature Bank last month, saying that the financial system needs to be adjusted so that one bank's failure does not “cause undue panic and financial harm.”
U.S. new-vehicle sales rose 7.5% in the first quarter as supplies improved and sky-high prices eased a bit while the global shortage of computer chips started to wane.
Disney CEO Bob Iger on Monday said any retaliatory actions by Florida Gov. Ron DeSantis and the Republican-controlled Florida Legislature against the company that threaten jobs or expansion at its Florida resort is not only “anti-business ... but anti-Florida.”
