Evan Spiegel reflects on Facebook and Instagram's competitive reaction to Snapchat's growth, including Instagram's 2016 launch of Stories.
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“The one thing that we didn't anticipate was that Instagram would actually perfectly copy stories, like carbon copy it, because in the past they had sort of tried different rifts on our products, like they would take the core idea, but then try to make it better, and ultimately that wouldn't work.”
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