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The copied becomes the copier

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After years of being the victim of "borrowed features" now it's Snapchat that's doing the borrowing. Snapchat's new product Spotlight is aimed squarely at competing in the short-form video space where TikTok is having so much success.To encourage creators to join Spotlight, Snapchat is using a not-so-subtle carrot. For the rest of the year they will share out $1m every day to creators who make the most viral videos. That sounds like an enormous amount to give away — but because Snapchat has become increasingly efficient at monetizing its user base, it's actually a reasonable bet. Assuming they run the campaign until the end of 2020 (roughly 35 days worth), that's only $35m on revenue that will very likely exceed $2bn this year. If Snapchat is able to draw some top creators to Spotlight it may be able to launch the most credible competitor to TikTok so far. Facebook's attempt, Reels, reportedly isn't doing well . Maybe Snapchat can succeed where Fa...
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FikaBits: What's SPAC-ing?

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NextDoor is Zucked Last week, techcrunch reported that Facebook is working on Neighborhoods -a NextDoor clone- based on Facebook's local groups.  What are the take-aways? If there was ever a time for everyone’s subtlety bigoted grandparents to get on Facebook, now’s it. Joking aside, Neighborhoods aligns very well with Facebook's strategy focusing on groups. NextDoor has been in hot water for inadvertently fostering racism. Facebook’s track record with moderating groups - or lack of - suggests it will not be able to avoid the same. Facebook is well-versed in copying features from other apps - just ask SnapChat and TikTok - to limit their growth. I expect this will do the same for NextDoor and force it into the arms of a SPAC. Quibi: Now Quiti Quibi, the app that staked its future on short videos, is shutting down just six months after it launched. Earlier, there were discussions that the app would be snapped by a SPAC. It turns out that Quibi is not even good enough to attract...
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Microsoft vs. Sony: The console battle and the gaming war

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Last week, Sony launched PlayStation 5 (PS5) on the same day that Microsoft dropped its Xbox Series X and S. So much for not stealing each others' thunder ;) As far as the actual hardware specs go, they are pretty on-par with each other. However, the two warring companies are approaching the growing gaming industry very differently, and competition between them will be one of the most interesting stories to watch over the coming few years. Here's a run down of where the two companies are and the very different directions that they are taking: Sony Sony is following the traditional razor and blades model that has long characterized consoles: try and not lose too much money on the consoles, and make up the difference in game licenses, its online service, and in-game purchases. It’s a model that gamers are familiar with, even if it ends up being a pricey one. In short, Sony is treating the PS5 like a console, and gamers like gamers, just as they did last generation. So, when it la...
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Why the stock market is beating expectations

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  In the early stages of the pandemic, the S&P 500 index dropped a third of its value. Since then it has roared back, soaring more than 50 percent from its low in late March and setting an all-time high last week. This seems very implausible when set against the current state of the economy and the ongoing devastation caused by the pandemic. So why is the stock market rallying in the face of a pandemic and bad economic news? Several explanations are plausible. The stock market is not the economy: The stock market represents publicly traded companies only; it’s not the whole market. Most importantly, it’s always forward looking; i.e. it’s an indicator of the future earnings of those companies and how they would fare in the future. A rising stock market indicates that investors think these companies will do better in the future. On the other hand, a falling stock indicates that investors are pessimistic about the future earnings of companies. Continued income support for the ec...
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Airtags: The ultimate brand power move

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Last week, Apple hosted its first event of the year and unveiled a slate of deliciously colorful products. But the star of the show was ... what we've been hearing rumors about for a very long time. Apple finally unveiled AirTags, little Bluetooth buttons you stick on things like wallets and keys to locate them (yep, just like Tile). They start at $29 each and will be available on April 30. AirTags use Apple's U1 chip — the same one used in iPhone 12. The chip will make AirTags trackers more accurate than those from Tile, Samsung, and Sony. Also AirTags use the "Find My" network, the same one used for Find My iPhone, Friends, etc. "Find My" is a crowdsourced network of hundreds of millions of Apple devices that can help users locate their missing tech through Bluetooth connection.  Bottom line: Apple’s powerful brand is a statement – that's currently limited to Apple devices. But with AirTags, people can slap expensive Apple labels on non-Apple products....
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