Most of the incremental growth in our core markets like the US, UK, and France will have to come from older users who generate higher average revenue per user.

Most of the incremental growth in our core markets like the US, UK, and France will have to come from older users who generate higher average revenue per user. Changing the design language of our product and improving our marketing and communications around Snapchat will help users understand our value Aging-up our community in core markets will also help the media, advertisers, and Wall Street understand Snapchat. To be honest, this seems like wishful thinking to me. It's going to very hard for them to regain momentum in their current demographic. It's going to be close to impossible to create a network effect outside of their current demographic.