RE: Another Steemit Highlight Will Hit the Mainstream Media Soon!
While I usually agree with you on most things this is one that I do not. I am sure you are much more versed on the business side of Snap, as I only know it from a user stand point. I do not believe Steemit will take users away from Snapchat as they are two completely different social platforms. Steemit (most like Facebook/Reddit) is a social platform (no need for further explination), while Snapchat is a way to connect instantly, using picture or chat with your friends. It's easy to use and yes, you can add silly faces to them. But your bias toward Snap seems to be limiting you in your ability to make a sound financial analysis on the matter. There are many adults, the numbers show, who use this platform often. So I don't believe there is much ground here for Steemit to take away many Snapchat users. Just my opinion.
Yes, I'm definitely biased against Snap but bias alone doesn't necessarily negate my bearishness. One of the key problems is the demo. Yes, they target the 18-34 crowd, but a whopping 71% are under 25. Furthermore, 77% of college students are daily Snapchatters. I can almost guarantee you that their tastes will change as they grow older.
Then you add the economics of it -- the majority of Snapchatters make less than $50K. With housing and rental prices going sky-high (and we discussed this before), advertisers know that this is a dubious demo who are typically out of the home, but are no longer living off mom and dad's teat.
I think that's the reason why the SNAP IPO has been horrible (among other factors). And because the majority of Snapchatters have less financial means, this motivates them to reward-based social media like Steemit.
Bump, set, spike! At least I tried not to agree with you for once....
Haha! Nah, I enjoy opposing views because it makes me think and keeps me on my toes. And you're right...I knowingly pandered to a biased crowd. I was just being lazy :)