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You Need To Know What Happened To Snapchat Stock

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Released in September 2011, Snapchat brought time-sensitive photos to the social media realm. It encouraged users to rely on those images to show their friends interesting, funny or memorable things. March 2018 data reveals Snapchat stock is down more than 15 percent compared to the previous month, leading some people to wonder if it’s too risky to own Snapchat shares. Well-known pop culture stars can capture the attention of people all over the world by posting material on social media. Snapchat got reminded of that twice recently. What’s happened with the brand recently to cause the downward trend in Snapchat stock? And what’s likely ahead for the app?

The App Got a Recent Redesign

In November 2017, Snapchat revamped the application’s interface, but that decision caused an uproar among some users. Despite the pushback, Snapchat is sticking with the new look. Before rolling it out, site representatives acknowledged some users find Snapchat “difficult to understand or hard to use”. The app partially prompted a different layout that allows people to sort the content they see, among other things. Snapchat clearly aims to keep the service fresh and exciting for current and potential users. But, besides the new layout that’ll reportedly be tweaked throughout this year, what else can people expect?

Snapchat CEO Evan Spiegel spoke favorably about the facelift, saying, “While we are still very early in the rollout, we are optimistic about the potential to unlock additional growth with the redesign of our application. As expected, it will take time for our community to get used to the changes, but overall, we are pleased with the initial results and will be making the redesign available to our entire community in the first quarter.”

Indeed, it does take time for people to adjust to change, and user bases often aren’t happy when their favorite social media sites debut significant changes. That’s why I expect this displeasure about Snapchat’s evolution will blow over soon. However, that’s not the only problem the service has dealt with lately, and you can see it in Snapchat stock.

Unfavorable Mentions From Two High-Profile Celebrities

 

First, in February 2018, Kylie Jenner confessed she doesn’t open Snapchat anymore and asked if anyone else had stopped using it. Afterward, Snapchat stock prices sank 6.1 percent, causing a loss of $1.3 billion in market value.

kylie jenner

Then, less than a month later, Snapchat came under fire again for allowing a phone game advertisement to run that asked viewers if they’d rather “slap Rihanna or punch Chris Brown.”

Many angrily took screenshots of the offensive ad and recalled the 2009 incident, which involved Rihanna and then-partner Chris Brown. He was arrested after an assault on her that occurred the night before that year’s Grammy Awards ceremony.

Soon, Rihanna posted a response on her Instagram feed. It’s no longer visible there, but people quickly took screenshots of it while reporters quoted the singer’s irate words.

Rihanna Snapchat

In a quote given to the BBC, Snapchat said, “The advert was reviewed and approved in error, as it violates our advertising guidelines. We immediately removed the ad last weekend, once we became aware. We are sorry that this happened.”

The apology did not stop people from accusing Snapchat of allowing content that made light of domestic violence. The site might be doomed after Kylie Jenner and Rihanna’s comments. After Rihanna’s statement, Snapchap stock plunged again by nearly 5 percent.

Also, people chimed in to say if Rihanna advised people to delete their Snapchat accounts, they would. The hubbub even caught the attention of former first daughter Chelsea Clinton, who called the ad “just awful” in her own tweet.

It’s also likely there will be more sudden action with Snapchat stock prices. Despite the plunges due to Kylie Jenner’s and Rihanna’s comments, the company had the biggest one-day jump in Snapchat stock history this February due to news it added nearly 9 million more daily users.

Snapchat Bans ICO Ads

Snapchat announced a ban of all advertisements for initial coin offerings (ICOs). They’re following the lead of fellow social media site Facebook, which outlawed all cryptocurrency ads of a non-educational nature. The news came in mid-March shortly after the Rihanna incident. T could cause some people to wonder if the site is cracking down on other kinds of advertising.

That recent occurrence is not the only evidence that suggests the two social media sites pay attention to each other’s actions. Last spring, Facebook began letting people post content that disappears after 24 hours, just like Snapchat stories. Users could also personalize the Facebook content with stickers and filters, which Snapchat offers too.

New Features Are Continually Available

At the end of January 2018, Snapchat announced a way for people to depend on visual references from selfies while creating their Bitmojis. They are Snapchat avatars that represent site users. Snapchat calls the feature “Bitmoji Deluxe.” It lets people study selfies to make their bitmojis as realistic as possible.

A couple of years ago, Snapchat dropped hints about the possibility that people could create Bitmojis automatically with help from facial recognition technology. There’s no sign of that ability in this latest update. But since an increasing number of today’s gadgets identify people by their faces, it makes sense Snapchat might offer it relatively soon. They’re already focusing on making the Bitmojis better.

When Snapchat made the Snap Map feature available last summer, it attracted attention while catering to people’s desire to know what’s happening in real time. Although some might say Snap Map triggers FOMO, other people think the location-sharing feature is cool. Those who don’t want to use it have the option to stay in “Ghost Mode.”

Snapchat Merchandise

I think Snapchat will incorporate a much more stringent ad-screening process based on the recent Rihanna fiasco. Plus, 2018 could be the year Snapchat re-enters the physical merchandise realm after its 2016 foray that saw it offering glasses that take pictures from a first-person perspective and let people upload them to Snapchat.

The company is reportedly currently developing new versions of those spectacles that are water-resistant. They come in more than one color and could be available as soon as this fall. That effort for the company to diversify makes sense, especially if Snapchat wants to profit from indirect income streams.

Google recently debuted its Cilps camera, which uses artificial intelligence to decide when to snap photos that seem most interesting. Similarly, there are rumors Spotify wants to start selling products such as speakers.

The months ahead will be action-packed for people who use Snapchat regularly. Those who are curious about the performance of this social media service will be following closely. If the service can achieve the growth it seeks from the redesign and continual rollout of features, it’ll likely be in the headlines even more than usual.

Kayla Matthews is a tech journalist and writer whose work has been featured on The Week, VICE and MakeUseOf. Read more posts by Kayla on productivitybytes.com.

Business

How To Journal As An Entrepreneur

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I’ve been journaling around 3-4x a week for the past year or so now. Basically, I focus on asking myself 3 questions every morning.

The first question I write down is: What good will I do for the world today? ( I learned that Ben Franklin used to write this question down every morning, so I took a page out of his book). The purpose of this question is to set the priority for the day. For me, it helps me understand that focusing on how you help others is what matters the most. Typically, my answers include:

–         Be kind

–         Make others smile around you

–         Be empathetic- look beyond people’s actions

–         Help someone!

The second question I ask myself is- what three things am I grateful for today? Usually the answers include my health, care for the people around me, and of course, hearing the birds! (favorite part of my day!) Again, the theme here is perspective- focusing on the basic essentials puts you in the right state of mind to start your day. Being grateful is not innate in everyone, and it takes practice and focus to make this type of thinking instinctive.

The last section I title is called Reflections. This section is a little more open ended. Typically, the topics include:

1.      Lessons I’ve learned from the day before. Usually this involves feedback I got in a conversation, an area where I think I made a mistake, or just an interesting observation that sticks with me.

2.      Giving advice to myself- I try to take a step back, and imagine if I was an observer giving me advice, what I would I tell him? Key phrases usually include “Stay hungry, stay humble”, “Act in a way that you’ll be proud of in five years”, and of course “Have fun!”. I also remind myself to try to be as strategic as possible, and to make sure that each action I take is bringing about the greatest return. I’ve found this also helps because by giving yourself advice in the morning, you no longer have any desire to give other people advice, unless you are asked.  I’ve found that giving people unsolicited advice is something people do not appreciate or like.

3.      Write down any stresses, or worries- then write down motivational lines, or actionable steps to get through it.

That’s it folks- takes about 10-15min, but I’ve noticed it builds my subconscious mind to instinctively be nicer, more positive, and more self-aware. For my company, it’s led to dealing with conflict in a more constructive way, accepting and pivoting faster on things I cannot change, and being a more empathetic leader. I highly recommended business professionals add this to their daily habits!

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How You Know A Co-Working Space Is For You

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Working at home is one of the best reasons to become a freelancer. However, there are people who work better when they need to get up and get dressed or when they are surrounded by co-workers. A group of people doing different jobs but working together in the same space is called co-working. Here are some ways to determine whether it’s time to look for a co-working space.  

You’re Not Getting Work Done

Working from home is great but only if you get work done. This is perhaps the obvious sign that you need to find a co-working space. If you’re snacking every 15 minutes or you spend lots of time on social media instead of getting work done, you seriously need to consider a co-working space.

You Want Human Interaction

Humans are naturally social beings. Even if you hate some of your old co-workers, there is something about being about other people that can help you work hard throughout the day. You might not like some of your co-workers but sometimes it’s nice to have somebody to complain to or chat with every day. If you find that you’re missing water cooler chats or if chat messaging is not enough, perhaps it’s time to look for a co-working space.

Your House Is Distracting

Your house has a bed, a TV, a fridge full of food and maybe your kids. All of these can be distracting especially if your kids need attention or if there’s noisy construction nearby or when a telemarketer calls. Distractions also keep you from focusing on work and getting it done in a timely manner.

You Need To Meet Clients

Yes you house is cozy and warm, but is it really an ideal place to meet clients? What if your home is a studio apartment? Is there enough space for all of them to discuss matters comfortably? Co-working spaces have common areas like conference room where meetings can take place in a more professional atmosphere.

You Need Space

There are just some types of work where you need a big space. You might need lots of light, big windows or a big table or space for bulky equipment. Not all co-working spaces are big, but there might be something that can accommodate your need for bigger space.

You Need To Get Out Of Your PJs

If you haven’t changed out of your pajamas for a couple of days, perhaps you need to look for a co-working space. Changing into something more professional could help you focus and become more productive.

You Need A Central Location

Your house could be out in the suburbs or somewhere not accessible to public transportation which can create logistics problem not only if you’re meeting clients in their offices but for supplies deliveries too. A central location – which some co-working places have – is not only convenient to clients but for other matters too.

You Need To Grow Your Business

A home business is fine if you only have 1 or 2 employees. But what happens when you need to scale up and need more space? A co-working space can give you the flexibility to scale up or down depending on your needs. Depending on the co-working space, it can be for a small 1-man team or a 10-person team with access to a conference room.

Networking

When you’re in a co-working space, you are surrounded with other goal-oriented people. This is a good opportunity to network with them, learn their business or share thoughts. Having access to people in different industries can open new doors of opportunities.

You Need Work-Life Balance

Work-life balance is important but it can be hard to achieve for some people when you work from home. Chores, children and distractions make it hard to focus on work so it creates an imbalance by making it hard for you to work. When you’re in a co-working space, you can forget about your house for a while to focus work. However, you still have the freedom to attend to your child’s PTA, go to the gym or pick up your dry cleaning.

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Things Successful Entrepreneurs Never Say

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Mindset is what separates successful entrepreneurs from the rest of the pack. While many people complain and let their negative thoughts get to them, successful entrepreneurs are steadfast in their thoughts and words. If you’re constantly thinking negative thoughts and saying negative things, it’s time to stop because you will never hear successful entrepreneurs say the following:

Because I Said So

Everybody knows you’re the boss but saying “Because I said so.” shows unnecessary bossiness. Not only is it unnecessary, it is also rude to speak to an employee this way. This statement can humiliate and disrespect an employee because they feel that their ideas are worthless or is not valued. Good leaders know that employees are not puppets with strings to pull. Good leaders know how to give input in a more pleasing way.

I’m Not Good Enough

Everybody experiences self-doubt every once in a while. However, successful entrepreneurs know when to detach themselves from this feeling. Dwelling on this kind of feeling can have a negative effect on your self-esteem and you’re going to need to stay positive especially when you’re running a business.

I’ll Try

I’ll try has a very negative connotation. For recipients of this reply, it sounds like a dismissal or an admission of defeat. Successful entrepreneurs on the other hand get things done.

I don’t have time

Successful entrepreneurs know how to manage time especially if it is about business. They make time for things because they know that it is important to the success of their business.

X Does This Better Than You

If you want to demotivate your employee say these words. However, if you want to keep them motivated and productive, do not compare them to other employees. If you want to give feedback, give it in a constructive manner so that employees gain insight and perspective without losing self-respect.

I Don’t Care

This is another demotivating phrase that can ruin your working relationship with your team. This phrase also breeds mistrust and disbelief. A great leader always, cares, always has ideas and opinions. Successful entrepreneurs praise their employees and know how to give constructive criticism.

We Don’t Need New Ideas

You will never hear successful entrepreneurs say this because they know that companies constantly need new ideas to stay competitive. They know that new ideas can help expand their business, retain their competitive edge or venture into a totally new market.

Don’t Show Up With Bad News

This phrase is demotivating to employees because it leads them to hide issues from their employees which in turn could be dangerous for the company. Good leaders know that receiving bad news from employees is normal because there is no such thing as a perfect business. Instead of this phrase, say “I want to hear good news today”.

That’s Not Fair

Business has nothing to do with fairness. Business is about being prepared and knowing to anticipate developments and keeping up with the competition.

It’s Too Hard

Nobody said going to business is easy. Successful entrepreneurs know it’s hard. However, they don’t see it that way because they see the hardships as a challenge.

I Did It On My Own

Successful entrepreneurs know that they need the support of their employees to become successful. They also know that they are only as good as their employees.

I Don’t Have Time For A Break

Successful entrepreneurs know when it’s time to take a break. They know timeouts are important in order to stay productive. They also know that their employees need periodic breaks and encourage them to do so.

It’s Impossible

Saying something is impossible is like saying that they don’t trust their employees. This phrase is another demotivator because trusting employees helps boost their self-confidence and can help motivate them to try harder.

It’s Too Early/Late

It’s never too early or too late to attend a business meeting or networking opportunity. True entrepreneurs never fail to seize an opportunity especially if it is related to the business.

I Never Read Books

According to Tom Corley of Rich Habits, rich people read more books than other people. What’s more, rich people rich people tell their kids to read 2 or more non-fiction books per month compared to the rest. 63% of rich people also listen to audio books on the way to work compared to 5% of the rest.

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