The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 15 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Spiegel: Network Size Matters Less Than Having A User's Closest Contacts
“If you have a big network, but you're only talking to three or five or seven people in that network, that actually the size of the network doesn't matter that much. What matters is that those people, those, you know, that you talk to all the time are a part of…”
Spiegel: Snap did not anticipate Instagram directly carbon-copying Stories
“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 bette…”
Spiegel: Zuckerberg Disclosed Facebook's Poke Clone In Late 2012 Meeting
“He was telling us about working on a new poke app, which ultimately ended up being a copycat of Snapchat at the time.”
Spiegel: Lightspeed's Seed Note ROFR Discouraged Other Series A Leads
“The writer first refusal allowed Lightspeed to buy up to 50% of the next round and because of the way that a convertible note works, that meant that they would control that series of stock. So they would control the series A of stock, and that meant that other…”
Spiegel: Reggie Brown conceived the idea of disappearing photos
“I mean, he came up with the idea of sending disappearing photos and share that with me”
Modern brand building centers on digital attention rather than retail shelf space
“I think when we created the brand in 2002 and three and four, our biggest obstacle was how are we going to get space in a retail environment controlled by four guys? I think today, now it's how are you going to own the most amount of attention from the consume…”
Spiegel: Snapchat grew via close-friend networks rather than broad social graphs
“Yeah, and it was different than social media virality because social media virality is very network-based, right? You would want to have the largest graph possible, but the reason why Snapchat was able to grow is because you really wanted to use it with your, …”
Spiegel and Bobby Murphy each cashed out $10M in an early round
“In one of those early financing rounds, Bobby and I were both able to cash out like ten million dollars each.”
Spiegel: Snapchat invented the tap-for-photo, hold-for-video camera interface
“We had invented this idea that you could just tap to take a photo or hold the button and start recording a video. And that at the time, based on the way the camera worked, was actually quite difficult to engineer.”
Dubin: Raising venture capital was never easy for Dollar Shave Club
“Raising money has never been easy for us, and I think for, unless you're Snapchat circa 2000 whatever, you know, it's hard to raise money for any kind of company”
Dubin: Dollar Shave Club struggled to raise venture capital through Series D
“Raising money has never been easy for us, and I think for, unless you're Snapchat circa 2000 whatever, You know, it's hard to raise money for any kind of company and for all the reasons that you pointed out in the beginning, you know, what, how do you think th…”
A nearby school invested $15K in Snap's seed round, funding a gym
“Actually, my favorite part of that story is a school nearby invested 15,000 dollars and ended up making, I think they ended up building a new gymnasium or something.”
Spiegel and Murphy funded early Snap with savings and inheritance
“You know, my grandparents had left me 10,000 dollars. Bobby had some money from one of his prior jobs, and so he chipped that in. My dad, I think, put in maybe five or 10,000 dollars, but he wasn't quite keen to put in any more to help people send photos back …”