I read their S-1. The other problem is that ex-US, bandwidth is more expensive than in the US, even though the addressable ad markets are smaller. People are po

I read their S-1. The other problem is that ex-US, bandwidth is more expensive than in the US, even though the addressable ad markets are smaller. People are poorer and don't spend as much. You have to admire facebook. They've been focused on low-resource Android for a long time, even requesting employees to use slower connections from time to time to make them viscerally feel the effect of low-bandwidth Internet. fb really gets that they need an Asia growth story and they've done pretty well. I simply don't see how Snap will do anything comparable given that their entire service is predicated on high-bandwidth video shot from high-end smartphones even half the US probably can't afford.