Snapchat's crackle pop on Wall Street (The 3:59, Ep. 188)
Snapchat's crackle pop on Wall Street (The 3:59, Ep. 188)
2017-03-02
good morning on Thursday March second
it's time for episode 188 of the 359
podcast with Alfred Aang and then Fox
Rubin good morning guys Alfred what the
hell are you doing there's no
eight-track port on the macbook air oh
my god you are insufferable this is
horrible people I'm just glad it's
Thursday it's our last episode of the
week so maybe there's a dongle alright
you win you win it's now endearing
really you fought your way through that
joke and ended up on top so so that are
we just gonna make fun of Apple dongles
again today or what it's whatever I mean
like people were interested I'm as much
as I'd love to make fun of Apple dongles
today we got a big day for snapchat
today yeah this is apparently recording
the stock exchange in the other room so
yeah so we do that later Wall Street is
going haywire because there's just
really like very few new tech IPOs that
come out and this is a really
significant one everybody yeah everybody
knows what snapchat is or at least 25
year olds know it's yeah that's all
those 25 year olds on the new york stock
exchange right now there's some more
there's okay i guess so yeah we'll start
off with snapchat send us in all your
questions about that what you think
about it whether you think it's a camera
company because that's how they're
trying to sell themselves to Wall Street
which is interesting and will also end
with Roger story about 5g wireless tech
there's a ton of 5g stuff that's going
on at mwc right now a lot of different
demos so we'll run through as many as we
can in the four minutes and that's it
yeah without further ado let's let's
kick this thing off and send in your
questions and comments we'll get to them
at the end of the show all right here we
go for the recording in three two
welcome to the 359 I'm Ben Fox Rubin I'm
Alfred hang snapchats parent company
went public today kicking off a splashy
IPO that raised over three billion
dollars for the company so it opened it
twenty four dollars a share which was
higher than its offering price of
seventeen dollars and the valuation is
above 24 billion dollars which is well
over Twitter I'm throwing out a lot of
numbers here but if anything this really
shows that people are really hungry
for snapchat snapchat shares try to say
that five times fast and you know maybe
this is this means something good for
the company maybe they're moving places
I mean it makes a lot of sense they've
been reach the Millennial market in ways
that Facebook and Twitter have been
failing at a lot of it is because
snapchat is temporary and you know
people have been moving away from the
social media of Facebook and Instagram
where you know it's your edited life
whereas on snapchat it's very unfiltered
mmm where you know people can just get
to it and just post their photos so you
know teens kids they've been flocking to
snapchat because things don't last
forever there they can hide from their
parents there and essentially you know
that's where the market follows where
people want ads on there now and they're
willing to pay a very high premium to
get direct access to you know that
market what we have seen though is is
that the daily active user base is the
growth of it is already starting to slow
it's about a hundred and fifty eight
million right now so it seems are these
guys in the next Facebook I mean are
they going to get to a billion users I
don't think you should be comparing them
to facebook though because they've got a
different very different you know idea
of what they are as a company they're
not saying that there are social network
and their IPO they said that they were a
camera company which I'm not lying I'm
very skeptical of but it could be what
they're trying to move into you know
with the spectacles which report
yesterday that they were developing kind
of a drone to take photos we've seen all
these selfie drones that are out there
also that could be their next move that
might be the reason why they even have
an IPO to kind of raise more money for
more hires and acquisitions yeah they're
definitely trying to present themselves
a little bit differently because
facebook is such a big kahuna yeah the
big danger is is that they're already
getting you know the potential of is the
are these guys the next Twitter and with
Twitter they've just they they have
proven themselves to be a critical part
of the social media landscape but
they're just not that valuable I think
that's what's gonna happen with snapchat
they're not gonna be you know Facebook
because you know you're everyone's mom
and their grandmothers and the great
grandmother's are on facebook it's
essentially snapchats not that in the
same way Twitter's panel like a niche
like kind of social network I think
snapchat will be too i think the
difference is though snapchat knows how
to make money
what's a very good hard for Twitter to
sell because there's not like one
demographic on Twitter yeah yeah next
the hype about 5g wireless tech is in
full display at Mobile World Congress
with Qualcomm Intel Samsung and others
showing off some of the early results of
their rd in 25 gtech Roger Cheng wrote a
story about this today about how the
super fast speed and low latency can
actually provide some really interesting
things one of them was that he performed
like a demo surgery using a special
glove and VR headset to do surgery
remotely I thought that was kind of cool
but I wouldn't want to get like surgery
done on me from a robotic arm by a
doctor that's like somewhere in Bermuda
no but would you want you know to
control or drone from far away using 5g
or you know drive it one of those
automated cars you jump driving car
surgeries one thing but you know I think
the idea behind 5 G's like it's not just
hey your phone is gonna go really fast
now you're gonna be able to stream this
video even faster or download this
Netflix show even faster i think the
prospect is now you know there's way
more things that you can do now that
involve you know groans and the internet
of things that yeah and and one of them
to is like more VR is that you could
potentially do like real-time live
streaming chats in VR which also opens
up the possibility for that anyway if
you want to read more about these
stories check us out on cnet on Ben Fox
Rubin I'm Alfred Aang thanks for
listening
and going right back into our good buddy
Michael Brown in the chat well let's act
like them welcome back Mike he's asking
while he's what he's wondering um as you
said they're presenting themselves as a
camera company and you've mentioned like
the rumors of the drone if they're he's
wondering if they're really going to
develop a legit camera type situation
like a camera camera camera camera um
that one that oh I really doubt they're
gonna make a phone it really should not
make a phone I mean like it would look
silly it would look whimsical but I
really don't think that that's a good
idea I mean I don't think that that they
would be pursuing a camera like a camera
on its own only because everyone has a
camera in their pocket already it's kind
of moving it trying to take it to the
next step that's kind of why the
spectacles where it sits on your face
you they function as glasses instead of
you know having to take out your phone
okay so I don't think they want another
product that you have to take out and
then you know snap again I think that's
why the drone idea kind of makes sense
for them yeah we've seen a lot of selfie
drones at sea as and it's a good point
it's an it's an advancement on the
camera it's not just a straight up
camera motorway everybody is kind of
trying to speculate that they must have
something new coming in a physical sense
to justify all this yes like the product
is not going to just remain as this
software they're going a further develop
yeah it's such a cliche thing to say but
now we just got to figure out what I
mean if anything I think they would be
pushing to develop their AR yeah yeah we
didn't even mention that um yeah so
brother improvement on the software yeah
well specifically the AR software the
face tracking and you know all those
like filters that you're getting I know
they also played around with like
forward-facing filters I think they're
gonna improve on that because that's
been a real big seller for them yeah and
they have a potential of becoming one of
the leaders John salzman wrote about
that today that they have the potential
becoming a leader in AR because they've
already been playing in that space with
the app with the spectacles and going
back to the previous point as far as
like would they create a camera I mean
like cameras already exist phones
already exist so what are some of the
things that they could add to them
market that are actually different
that's that's where spectacles come in
that's where the drone comes in and
that's where whatever X you know the
next the next other iterations of what
it is that they do could come in yeah
where they actually provide something
that's differentiated that doesn't
already that isn't already out there
that they're not just you know
regurgitating a design with like a cool
look to it so let's uh let's let's walk
in to some dangerous territory here
let's get stock advice sure oh I used to
work at the wall street years oh I know
if you should buy stock now and I think
Michael Brown has given them some pretty
good advice saying wait until it dips
back down to 17 it's impossible to know
where the stock is going to move I mean
like this is just like but it Michael is
not wrong in that usually there is a
very big pop in the beginning when
everybody tries to dive into it and it
there is a tendency for things to die
down we saw that with Facebook where
Facebook actually kept creeping down for
a while and people were starting to
wonder if it was a dud and there were a
lot of opportunities for people to jump
into it and now it's worth way more so
patients does often pay off but you
really never know with the stock market
where something is going to go i mean
like I've told myself that a million in
one times because if I knew where the
stock market was going to go I wouldn't
be doing this podcast I won't say this
about the spectacles oh and you know
maybe some advice for snapchat on their
next piece of hardware that they're
planning on coming out with snapchat has
always been like notorious for killing
your phone battery life part of it being
the way that the software works but the
specters are the spectacles are kind of
the same story right now where it
transfers video through bluetooth on to
your phone and like the amount of video
that it takes and it doesn't do it like
as you're taking it it's like it kind of
both transfers all the videos so that
pretty much like spells like disaster
for your phone battery yeah which is why
I feel like stop using mine like as
frequently as i used to it because it
used to be one of those things where oh
I want to capture this but you know
what's the point of it if my phone dies
from it so so if they maintain their
identity as a software service then
they're really going to want to revise
and repolish that yeah yeah which
there's an opportunity to do that you
could also perhaps
juryrigg uh snapchat spectacles on to a
nokia 3310 yeah which has you know month
long battery life so let's try to make
that I'm pretty sure the camera on these
spectacles is probably better than the
nokia 3310 my camera oh yeah absolutely
I want to see somebody take a 3310 and
turn it into a battery itself that one
hour cool power your smartphone so I do
want to throw out a quick PSA I wanted
to mention this on the show if you do
plan on buying snap incorporated make
sure you're buying snap incorporated
because another stock is actually way up
today and it's snap interactive the
ticker symbol on that one is STV ID that
is the wrong company to be buying that
is a lot of people you should be buying
SN a piece that incorporated SNA p it's
the sea but they're both going up tuna
this is why we have the money man on the
show I mean you this has happened before
do you do remember when Twitter went
public oh wait a minute snap interactive
is now down nine percent okay it was up
seventeen percent before and I guess
everybody came to those senses and
realized they were buying the wrong
sorry it's a bell is rung if people want
to get stock updates like a watch
exchange of it worse yeah we're not
gonna put a test in my show re read
carefully before you buy I mean this is
this isn't the first time something like
this has happened when Twitter went
public uh this company called tweeter oh
oh wow their stock went up I know
eighteen hundred percent thanks to
thanks to the people that don't read
fully so yes yeah yes nap will be
joining such a grandpa air to make what
oh what's doctrine by graham i got the
tweeter i would not i mean like people
make I was oh yes it happened but it's
so funny because exactly I mean that I
don't know about you but I had relatives
like you do you use that tweeter that
the tutor it makes me want to start a
company that sounds very familiar like
similar to like another one of these
companies and just like wait for people
to make that mistake ride the art of the
rip off and it's like those movies like
the trans morford knows ripoff movies
now these sneakers are my key not not
that's alright company hey if it helps
us get rich quick I'm into it let's do
it um let's talk about the 5g
little bit could you maybe so outline
the few people are kind of just curious
like exactly what is the benefit of 5g
well you get the basic it's faster but
like what are some other things that
come out of its functionality I mean I'm
going to try to pull up Roger story
because he does a really good job of
explaining this well is that what he did
demo if you go to Cena or YouTube we've
got that video of him using the surgery
was the power glove right he did they
didn't let him actually do surgery thank
God but yeah he actually did get the
demo it's it's really kind of neat to
see for nothing more than like he looks
kind of badass when he was in there
absolutely yeah those are some pretty
cool vr specs I'll just read this quick
sentence from Rogers story it's the
combination of speed responsiveness and
ubiquity unlocks full capabilities of
other hot trends in technology offering
a boost her self driving cars drones the
Internet of Things and virtual reality
and Rogers talked about this he's kind
of the 5g expert for us and he's talked
about this quite a few times on the show
before that 5g is really considered the
enablement that helps all these other
things actually be possible sure it's
not just speed it's not just as speeds
and feeds things it's about the
responsiveness it's also interesting to
consider how 5g is so responsive and it
has such low latency that it could
actually replace your home broadband so
you could be buying you know instead of
through cable vision which I have you
would be getting it through verizon or
AT&T or tmobile whatever because 5g is
so fast you would just get it wireless I
mean yeah I kind of I kind of look at 5g
as like the nintendo switch of like
internet connections where instead of
like just oh i have a home connection i
have a mobile connection it's kind of
like it's all just one thing where you
can like take it home and then just
leave with it also and it's like
relatively the same quality and speed
yes yes it is I like a matthew in the
chat his his logic behind the idea of
letting a doctor do virtual surgery on
use like well if you get that doctor in
Bermuda he's probably gonna be way more
chill and like laid back and just like
yeah I'll fix you it is interested I've
heard this like whole remote surgery
concept before and I guess in very very
specific use cases you could save
live you know there's some guy in
Bermuda or Sweden or whatever that is
the expert guy or girl that's a doctor
that I mean you know that they're not
doing the surgery right there not like
controlling like a robot or anything
like that and raising that the whole
idea it's there there so they can kind
of see it like up closer and then like
they're advising people that are in the
room and telling them what to do wait a
minute isn't that like can't you already
do that with skype though I thought the
whole idea is that like your via truly
their butts yeah that's the thing you
can't do that with skype because it's
kind of just like I can't like a 2d
camera kind of thing VR it's like you
can look around and like look at
different parts of it nice yeah I don't
know Roger mentioned like a robot arm
sounds frightening but hey oh yeah he
did have that power glove I don't know
what that glove was about the power
glove the idea there is that it's got
haptic feedback on it and that you could
literally be able to control a robot arm
remotely to doing the virtual to be
doing the surgery virtually to do it
remotely because like if you're the
super duper expert you're like the one
person that can do this globally then
yeah they'd want you to be the person
need controlling the row bones and yeah
that was he wonder to ship a robot than
it is to transport a human sometimes yes
yeah I love the power glove it's it's so
really I mean a lot of this stuff I hate
to say it has a lot to do with just like
form factor and the way it looks and
Roger just looks badass set up with all
this stuff and you know some of the
other VR and a our stuff just doesn't
look cool and I think it's gonna cause
people to not want to use it as much you
know maybe hollow lens does look cool to
certain people i'm not sure but whatever
whoever makes this that VR headset they
did a good job with at least making it
look very future while they're
discussing in the chat what new
nicknames to give to you mr. money man
oh really yeah thank you know let's
let's get we're getting close to the end
here but Michael Brown is making an
off-topic request to talk about well one
there's speculation going on when the
iphones gonna hit and what's going to
happen with the iphone the next iphone
oh okay but more specifically he wants
to know if we've talked about the ball
but
Apple drop that YouTube and Google are
picking up five Apple TV oh yeah we
didn't talk about Apple TV at all
yesterday you know you can jump in on
because adam did talk about YouTube yes
obviously where we are very and beard
buy it but yeah we didn't talk about
Apple yeah mostly because Apple TV right
now isn't really its own live streaming
subscription service as opposed to just
kind of like a Roku kind of digital box
yeah so really what didn't cross our
minds is one of the competitors with
YouTube and you know sling TV DirecTV
now PlayStation view I will say though
they might they probably drop the ball
by not doing by not having a life
subscribe subscribe shun service
considering that they have their own box
set I mean it's not like they don't have
the resources that too so i will
definitely agree that they dropped the
ball on that you guys fill me in on this
are we talking about like planet of the
apps or something no we talked about
YouTube TV yesterday right yes and then
he wanted to know if we he missed
yesterday's show so you wanted to know
if we talked about Apple TV yeah not you
know jumping on that I got it alright
thank you everyone watch the planet of
the apps by the way I don't have an
Apple TV so I am NOT but from what I've
seen is not good it's is it a sitcom or
what it's uh it's basically like shark
tank but for apps oh that's right that's
right it was genius reality a kind of
games you know thing with genius tech
entrepreneur will.i.am at the very least
it looks like its baseline good enough
reality television carpool karaoke maybe
a bigger head because carpool karaoke
has been like huge on youtube so we'll
see if it's like gonna be like a parcel
carriers oh yeah you know we need them
we need to do a disclosure yeah live on
CBS and I've on CBS which is also our
owner ok Jordan right watch the show all
the time it's it's okay to be a fan of
something that exists on your own
network we love you less communities
what we really need is a reality game
show plan of the app style with Elon
Musk though where he's getting and like
he brings in like Bill Nye as guest
judges and they try to get kids to like
like literal kids like college kids to
battle for two
wishin by developing software hardware
any number of scientific type things
engineering type things I love this idea
I would watch the crap out of that that
would and then like Emily Adam Savage
comes in and he tries to like I said
like he's the the Tim Gunn to there and
to like what is a good idea runway kind
of thing ya can't believe you're giving
away this like million-dollar idea live
on air yes where are you all right
that's probably good place to end it for
today yeah let's do it um anyway thanks
everybody for joining us today the 359
podcast is available on itunes tune in
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play music and yeah it's available on
cnet com this of course thanks for
watching we'll be back on Monday and
have a good weekend bye-bye
you
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