Hi, my name is Landon, and I don’t understand the frenzy about the Snapchat app. Whew, that was tough for me to admit publicly. I hate to sound like the old curmudgeon who yells at kids to stay off his lawn, but I just don’t get it.
It’s an app that lets you add cute animal features to photos of your face, and encourages you to send the kind of texts you don’t want anyone to see for longer than 10 seconds. What could possibly go wrong?!
Don’t get me wrong—there are a few late night, bourbon-fueled texts I’d like to have back. But c’mon, what good is a text that disappears if the screen shot capability of the phone you sent it to is still active?
More importantly, I don’t understand the feverish response to the Snapchat IPO. Maybe it’s because I took some lumps during the dot-com bubble (damn you, Mercury Interactive), or maybe it’s because I’m a nerdy guy who loves the daily grind of striving to earn exceptional risk-adjusted returns for my shareholders. Either way, I don’t get it.
To quote my boy Dennis Gartman, “Is there anything in the investment world less investable than SNAP? This is not a business … this is a time-sapping hobby.”