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01-19-2018, 11:01 AM
The big con: How tech companies made a killing by fudging their numbers
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In May 2015, Snapchat cofounder Evan Spiegel sat onstage at a tech event and said his app was "approaching" 100 million daily active users in developed markets.*
He was wrong — or, well, he exaggerated. In June 2015, Snapchat averaged 89 million daily active users overall, per Snap's S-1 filingHeadlines at that time (https://www.recode.net/2015/5/26/11562930/snapchats-evan-spiegel-takes-the-stage-at-code-conference-liveblog) said otherwise.*
SEE ALSO: San Francisco was the place to be for people in tech. Then it wasn't. (http://mashable.com/2017/12/06/why-they-leave-san-francisco-silicon-valley/)
Spiegel, in the midst of getting grilled by reporters Walt Mossberg and Kara Swisher, was answering the same question posed to every tech company: How are your numbers?*
Silicon Valley was built on metrics: users, time spent, pictures uploaded, etc. These numbers made even young startups look like they could conquer the world and make billions of dollars along the way. Read more... (http://mashable.com/2018/01/18/silicon-valley-companies-misleading-metrics/)
More about Facebook (http://mashable.com/category/facebook/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Startups (http://mashable.com/startups/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Advertising (http://mashable.com/advertising/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Snapchat (http://mashable.com/category/snapchat/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Wall Street (http://mashable.com/category/wall-street/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial) https://pubads.g.doubleclick.net/gampad/ad?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1516333255 (https://pubads.g.doubleclick.net/gampad/jump?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1516333255)
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In May 2015, Snapchat cofounder Evan Spiegel sat onstage at a tech event and said his app was "approaching" 100 million daily active users in developed markets.*
He was wrong — or, well, he exaggerated. In June 2015, Snapchat averaged 89 million daily active users overall, per Snap's S-1 filingHeadlines at that time (https://www.recode.net/2015/5/26/11562930/snapchats-evan-spiegel-takes-the-stage-at-code-conference-liveblog) said otherwise.*
SEE ALSO: San Francisco was the place to be for people in tech. Then it wasn't. (http://mashable.com/2017/12/06/why-they-leave-san-francisco-silicon-valley/)
Spiegel, in the midst of getting grilled by reporters Walt Mossberg and Kara Swisher, was answering the same question posed to every tech company: How are your numbers?*
Silicon Valley was built on metrics: users, time spent, pictures uploaded, etc. These numbers made even young startups look like they could conquer the world and make billions of dollars along the way. Read more... (http://mashable.com/2018/01/18/silicon-valley-companies-misleading-metrics/)
More about Facebook (http://mashable.com/category/facebook/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Startups (http://mashable.com/startups/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Advertising (http://mashable.com/advertising/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Snapchat (http://mashable.com/category/snapchat/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Wall Street (http://mashable.com/category/wall-street/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial) https://pubads.g.doubleclick.net/gampad/ad?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1516333255 (https://pubads.g.doubleclick.net/gampad/jump?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1516333255)
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