“I think what will be vitally important, going forward, is that all technology companies, anyone working on new technology products, is thinking from the beginning about the impact on society and making sure they're doing the right thing to serve, not only their the community of people using their products, but the broader world,” Spiegel said. We offered that long before there was any sentiment about privacy, about Big Tech, any of these big societal issues that we have today.” The most “difficult and frustrating” aspect of fast-moving technologies is that founders have to take moral responsibility from the start regulation is usually “far too late,” Spiegel said. And so I think the reason why Snapchat has been really successful in this environment is because it offers something different. “Our first blog post talked about this specific problem. Bobby (Murphy, cofounder of Snap) and I were the first generation actually to grow up with social media and understand its impact,” he said. And, has Snap gained from this backlash? “I don't think it's the anti-Big Tech sentiment that's benefiting Snap. The concurrent leak of internal documents has bolstered the narrative. “And when people inside that company find a problem, they're not being allowed to fix it, and I think that's really concerning.” Facebook and Zuckerberg have been under fire for prioritising profit over the wellbeing of users amid accusations by former Facebook employee turned whistleblower Frances Haugen, who has testified before the US Congress.
“That business has a really large influence and operates multiple very large platforms that reach billions of people,” said Spiegel. “Even though all of those decisions were right for Snap in the long term, there was short-term pressure, which obviously concerned people, investors… But I think now several years later, those decisions have proven to be, you know, the right long-term decisions.” ETtech Facebook, Big Tech Asked about the heavy criticism directed against Facebook and other Big Tech companies, Spiegel said the challenges were not necessarily faced by all of them but were focused on “one large platform,” without naming it.
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“It was a perfect storm at the time-revenue headwinds, user growth had challenges, there was the Android platform, and a lot of changes to our leadership team,” he said. The company moved to a programmatic advertising platform, which adversely affected ad revenue, and it didn’t push Android. Graphics: Rahul Awasthi “I think if we go back to the same 2017-2018 timeframe, we made a couple of really big, long-term bets at the time that put a lot of short-term negative pressure on the company,” Spiegel said.
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