Spiegel Bad

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Spiegel Bad

When confronted with allegations that Snap was misrepresenting important metrics, CEO Evan Spiegel claimed they „don’t matter“ and it was „no big deal,“ according to an unsealed lawsuit against the company.Former Snap employee Anthony Pompliano is suing his former employer for preventing him from getting future employment, saying company had a vendetta against him after he revealed to executives several key performance indicators (KPIs) were falsely reported to investors, advertisers and the press. The case had been redacted when it was initially filed in January in the L.A. Superior Court system, but Snap unsealed the documents in a motion on Monday. Pompliano’s findings eventually lead to a meeting with Spiegel and other executives, where Spiegel was „inexplicably enraged throughout the meeting,“ and barely read the presentation. When Pompliano asked Spiegel if he read the sections on metrics and data, he responded „Yeah, I read those; it doesn’t matter.“ One major point of contention was over Snap misrepresenting its number of daily active users (DAUs) around mid-2015. Pompliano said the company was telling its investors and ad clients it had more than 100 million daily active users, when its internal programs showed it only had 95 million or 97 million DAUs. The lawsuit states that during Pompliano’s presentation, Spiegel said the discrepancy was „no big deal.“ In addition, Pompliano suggested growing Snap’s international numbers, especially where people have high-levels of social media activity. Spiegel reportedly said, „This app is only for rich people. I don’t want to expand into poor countries like India and Spain.“ Snap has denied the claims. The company said it was not telling advertisers during mid-2015 it had more than 100 million DAUs. Furthermore, it called the difference in numbers a „minor metrics deviation,“ pointing out that it had switched recording systems and accounted for the change in DAUs many times in its IPO prospectus.“Pompliano now resurfaces after three months of inactivity with new attorneys but the same publicity-hungry game plan,“ Snap wrote in the motion which unsealed the documents. „In his latest dramatic installment, Pompliano doubles down on the main canard from his complaint — that Snap gave investors misstated user metrics back in 2015 — by asserting that Snap is currently misleading investors. Both halves of that remarkable claim are false. And they regrettably show that the thirstier Pompliano grows for attention, the more he starves his filings of truth and common sense.“ Snap said it had no additional comment, and referred back to its recent motion. However, lawyers for Pompliano said the fact Snap voluntarily unsealed the documents is a sign the company agrees at least some of the claims are true.“We’re encouraged that Snap has come to its senses and belatedly agreed with us that the complaint in this case belongs in the public eye,“ Pompliano’s lawyer John Pierce said in a statement. „Snap withdrew its motion to seal because it knew it was flat wrong on the law and would lose its motion in court. This attempt to save face by Snap should serve as a reminder that no matter how big you are (or how many billions of dollars you have) in our system everyone has to play by the same set of rules.“ Disclosure: CNBC parent NBCUniversal is an investor in Snap.
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Spiegel Bad

Pompliano’s findings eventually lead to a meeting with Spiegel and other executives, where Spiegel was „inexplicably enraged throughout the meeting,“ and barely read the presentation. When Pompliano asked Spiegel if he read the sections on metrics and data, he responded „Yeah, I read those; it doesn’t matter.“
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Spiegel Bad

Evan Spiegel, the boyish cofounder and CEO of Snapchat, is dying to be taken seriously. He rejected Mark Zuckerberg, opines like Steve Jobs, and hobnobs with media titans. But Spiegel's undergrad emails—when he began his path to Snapchat—show a different Evan. Did Steve Jobs ever joke about peeing on girls?
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Spiegel Bad

During his time at Stanford, Spiegel (now 23 years old) was a prominent brother of the university's Kappa Sigma chapter—a fraternity with a fraught record, temporarily kicked off campus for violating the school's „Controlled Substances and Alcohol Policy.“ The house was also a tiny tech incubator, and brought together the three boys whose fratty bond would eventually lead to the creation of Snapchat (after one was betrayed and screwed out of the deal, of course). Emails obtained by Valleywag show a slightly younger Spiegel shifting seamlessly from entrepreneur to a guy trying very hard to get girls so drunk, they might have sex with his friends. Who needs Y Combinator when you've got a stripper pole, your dad's swanky house in L.A., and some cocaine?
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Spiegel Bad

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I’ve known Evan Spiegel, Snapchat CEO and co-founder, for a while now. We have had more than half a dozen in-person conversations, far more phone calls, and even shared twenty minutes together on stage at Disrupt SF. And try as I might, I’ve had a hard time liking him. Now, after reading emails sent by Evan Spiegel during his undergrad time at Stanford, I clearly understand what my instincts were telling me.
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Spiegel Bad

All in all, these emails are bad news bears for Snapchat and Spiegel, but they don’t surprise me in the least. I’m not going to relay anecdotes from my personal conversations with Evan, as I promised him long ago. However, when you separate Evan the person from Evan the co-founder, what you get isn’t a lovable kid who drew a ghost and built an app. You get a desperately unassured, lanky kid who covers up his insecurity with unabashed cockiness.
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Spiegel Bad

Researchers from King’s College in London, together with auditing firm Ernst & Young, have now sought to systematically analyze IS finances. In a report titled „Caliphate in Decline,“ they used media reports, IS documents, publicly available government papers and their own research to examine how IS finances itself and how healthy their finances currently are. The study was reported on by SPIEGEL and the Washington Post prior to its Saturday presentation at the Munich Security Council. It jettisons the cliché which holds that clandestine backers are behind the Islamist extremist group, with the authors noting that there is no proof of such donors. The report also claims that kidnappings for ransom and the smuggling of antiquities are also not significant revenue streams. Rather, most of the group’s money comes from „taxes and fees“ that are imposed in those areas under the group’s control. Oil revenues come in second, followed by „looting, confiscations and fines.“
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Spiegel Bad

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In the midst of all this, here's a professional email from Spiegel, without any talk of sucked dicks or blacking out, as he looks for help with FutureFreshman. This endeavor would soon fail, turn into Picaboo, and transform into the mega-valued Snapchat of today.
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Maybe you can chalk this up to youthful indiscretion—but you can't discard it as such. Silicon Valley worships youthfulness, adores the scofflaw, the pirate, the reckless kid. Investors and Valley pundits seek out boys like Spiegel, „where's my bong?“ emails and all, on the assumption that the same lightning that zapped Zuckerberg will continue to strike, and strike, and strike. But if the bazillions swirling around tech companies and their boy-king founders is going to continue to flow, we need to remind ourselves who exactly these kids are. And maybe, upon reflection, maybe, offering billions of dollars to children is not always prudent.
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Like Zuckerberg with his infamous IM leak, Spiegel was in college when he sent these emails, which describe peeing on women, doing blow, drinking underage, getting his friends laid by wasted “sororisluts”, and shooting lasers at “fat chicks.” The emails are disturbing, in content as well as spelling and grammar, and wear away what little hope is left for the younger generation.
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To be fair, we all say things that are meant to be private, and when Spiegel sent these emails to his Kappa Sig bros, he probably never imagined that they’d be paraded out for the world to see. That said, we can’t possibly comment on them without pointing out the deep irony: Evan is his own ideal user.
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Spiegel and Bobby Murphy, who was allegedly very high at some point during the writing of these emails, built something that is meant to protect against this very situation. Snapchat is an app that sends self-destructing messages, so even if you’re too drunk to have sex and end up urinating on some poor girl named Lily, your correspondence about those events never reaches the light of day.
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In an interview with Forbes, Spiegel apparently lied when he told the story of Facebook’s Mark Zuckerberg offering to meet with him and discuss an acquisition. His version of the story includes a warm, and slightly desperate, invitation from Zuck to come visit, as well as a cold rejection from Evan telling Zuck to come down to LA.
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Other founders in the LA area, whose ventures don’t compete at all with Snapchat, haven’t had the nicest things to say either. One friend of mine, who doesn’t call Spiegel a friend but does have pretty regular interaction with him, called him “deeply insecure” and “unbearably cocky.”

13 Photos of the Spiegel Bad

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