Nobody Trusts Facebook. Twitter is a Hot Mess. What is Snap's Evan Spiegel Doing?

www.bloomberg.com

Sarah Frier:

Spiegel flopped his microphone back and forth as he gathered his thoughts. “I think one of the things that’s been really helpful in maybe the past six months or so is that the contrast is starting to become more clear between our company and the other companies in technology,” he said. “What I think that people are starting to see is that other companies really are trying to make as much money as possible and really don’t care how that happens.”

Frier's question-mark title is a totally fair one -- given the nightmare scenario currently playing out for Facebook (and to a lesser extent, Twitter), Snap should be taking advantage of this time. Instead, they seem to be shrinking away from the challenge -- both literally and figuratively. They seem to know that they should be taking advantage of their strength as a more private social network here (per above), but they just can't execute on that. I'm reminded of this scene...

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