>Not sure why you would invest in Snap at their IPO price at $17, given that they had no prospect of profitability That's typical of social media companies - g

>Not sure why you would invest in Snap at their IPO price at $17, given that they had no prospect of profitability That's typical of social media companies - get users first, and figure out the money later. And it makes sense. If you have a billion active users on your platform, you can always find ways to make money. >due to Instagram's aggressive copying strategy at the time. Everyone copies everyone in this space and always has.