Snap's Rollback of Redesign May Signal an Identity Crisis
*By Britt Terrell*
Snap is doing something that is unprecedented in social media. The maker of Snapchat has answered angry users' protests and revamped its app to make it more similar to the original version.
"It's a sign of humility in a way for Snapchat," said Marty Swant, a staff writer at Adweek. "In a way, I wonder if they have a bit of an identity crisis."
Is Snap making a tool for publishers or is the app catering to its core users?
Snapchat's 2017 redesign was meant to bring more people to its publishing page. But loyal users revolted: A petition called for the app maker to revert to the old design, the platform saw its user growth [decline in the last quarter](http://deadline.com/2018/05/snap-inc-snapchat-slowest-growth-earnings-stock-plunges-1202380663/).
As Snap's stock continues to plummet ーit's down nearly 50 percent year-over-year ー the company must figure out ways to appeal to advertisers.
"I think the big picture that Snapchat has now is their ads are a lot more creative than the ads you're seeing on Instagram stories - Snapchat's main competitor," said Swant in an interview Monday with Cheddar. "They're just cooler looking, they're more engaging. I think that's a big play, but the question is, do users actually spend time with them?"
For the full interview, [click here](https://cheddar.com/videos/snap-redesigns-its-redesign).
Intel will invest $20 billion in a new computer chip facility in Ohio amid a global shortage of microprocessors used in everything from phones and cars to video games.
The 40-page paper was widely seen as the first step in doing just that, but the document provides only partial hints as to if the Fed is supportive of a central bank digital currency.
The People's Bank of China (PBOC) announced on Tuesday that 261 million individuals, or about a fifth of the country's population, have now set up digital yuan wallets.
AT&T and Verizon say they will delay some new 5G wireless service after the airline industry raised alarms about potential interference with important systems on planes.
GreenPower Motor Company CEO Fraser Atkinson joined Cheddar News to discuss Gov. Jim Justice's plan for West Virginia to reduce carbon emissions in 2022 by adding a school bus fleet of B.E.A.S.T.s — or battery-electric automated school transportation. Atkinson discussed why the state was perfect for manufacturing electric buses, and the economic impact its facilities will have on the region. He also noted a health impact the new vehicles could have, citing research that children from kindergarten to sixth grade are most at risk for cancers and respiratory illnesses due to exhaust pollution.
Two of the biggest names in crypto had a public spat this week over whether stablecoin issuers should have to reveal to the general public what's in their reserves.
Amid a rise in gun-related deaths in 2021, a smart technology solution is being touted to help personalize and secure the use of firearms for owners in hopes of preventing unauthorized use and accidents. Gareth Glaser, president and CEO of LodeStar Works talked with Cheddar about adding fingerprint or smart tech locks to its 9mm handgun as a way of addressing the deadly issue without a partisan viewpoint. "We felt a technical solution would be the best way to go," Glaser said. "It's nonpolitical, and it actually addresses the product itself as opposed to a cultural issue."
As the cryptocurrency and digital asset space continues to evolve and grow, one podcast launching on Spotify's new video podcast platform aims to inform listeners about the various uses and developments in the crypto world. 'New Money' features guests from the entertainment and sports worlds discussing building wealth in the crypto space, creating NFTs, working on digital contracts, and more. Solo Ceesay, co-host of the 'New Money' podcast and co-founder of creator-focused social media platform Calaxy, joins Cheddar News' Closing Bell to discuss what the podcast will explore, its guest lineup, how they verify content amid broader crypto speculation, and more.
Lime is celebrating the launch of its latest electric bike in Washington, DC, this week, with more cities joining in this spring. The Gen4 e-bike boasts a new look, a more powerful motor, and a battery that's interchangeable with the Gen4 e-scooter. CEO Wayne Ting joined Cheddar to discuss the company's investment in electric bikes and the potential role of micromobility in the metaverse. "I think it would be incredible as a way to teach people to live greener, if there are worlds out there, metaverses out there, where the way you go faster in that world is if you take a bike and a scooter," he said. "So, you're teaching people better behavior as part of their virtual world as well."
