so many of you have asked me about
snapchat and what I think about the fact
that you know Wall Street Journal just
came out with the amount of loss
snapchat had and hey Pat what do you
think about it listen it’s very simple
very very simple as smart as you would
think these fund managers akiro price
and fidelity who chose to add snap as
one of their stocks to their mutual
funds they seriously still don’t fully
make their decisions logically they make
their decisions emotionally and they’re
handling billions of dollars of
investors money some of your money that
they chose to go on by snap so why do
you buy snap here’s why they buy snap
because it’s an exciting product
greatest and exciting product you don’t
go buy an exciting product watch some of
the numbers here so first of all snap
goes public okay snap on snapchat snap
parent company they go public I think
roughly around twenty six point six
billion dollars a number to go public
with watch this number here they go from
twenty six point six billion to twenty
point seven billion losing six billion
dollars of money after snapchat
announces first quarter they lose two
point two billion dollars right after
going public and I think if Evan Spiegel
goes up and it takes an income of 750
million dollars is what he takes himself
he takes an income of 750 million
dollars himself which is fine he can do
that after so it’s kind of like you’re
buying a stock snapchat announces
they’re going public the stock is snap
parent company they’re going public hey
we are selling these shares for this
price you give money to them they’re
selling shares to you and you know Evan
Spiegel cashes at 750 million of it and
then BOOM stock drops six billion
dollars of value the company drops from
twenty six point six to twenty point
seven billion dollars now why did this
happen I’m surprised that everybody was
surprised everybody kept asking me Pat
should I buy Facebook should I buy
snapchat i buy snapchat should i buy
snapchat look snapchats sister or
brother may as well be twitter they have
a lot in common
exciting products we use them I use
Twitter I use snapchat
I love snapchat I love Twitter but I
don’t love it as an investment because
as an investment you got to figure out a
way to take a dollar and turn it into
two dollars take two dollars and turn it
into four dollars take four and turn it
into a Facebook learn how to do it once
they brought Sheryl Sandberg from Google
and she brought the way on how to make
money and people started boosting their
pose and all these other ways for them
to start making money and Facebook value
went up my biggest suggestion to you is
don’t invest in stocks and companies
you’re excited about at the end of the
day what is going to be the most
valuable thing to be able to show for is
the following can you make money can you
show that you make money if you the
small business owner even you’re running
a smaller business if you can figure out
a way to show that you make money you’re
eventually going to have buyers and more
importantly your shareholders all like
snapchat shareholders who are very very
upset right now your shareholders will
be very happy with you and they’ll keep
doing business with you every single
time you don’t want to be a jack dorsey
you don’t want to be an Evan Spiegel you
don’t want to be one of these guys now
obviously you made your money yourself
but at the same time there’s a bunch of
shareholders up a lot of money into it
so from an emotional standpoint yes
Jack’s a billionaire yes Evans a
billionaire yes they both design great
exciting products yes it’s awesome yes
we love it from an investor’s standpoint
don’t fall emotionally with your money
and pay attention to your 401 k plans
and your mutual funds and see if these
guys these fund managers are deciding to
invest in a stock that still hasn’t
proven to make money now does this mean
that snap is not going to figure out how
to make money no but if they don’t
figure out how to make money it’s
another disaster story just like Twitter
don’t invest emotionally always invest
logically that’s my rant about snap
after all of you guys sending me all
these message
what I thought about it that’s what I
think what would just happen with snapchat
snapchat and what I think about the fact
that you know Wall Street Journal just
came out with the amount of loss
snapchat had and hey Pat what do you
think about it listen it’s very simple
very very simple as smart as you would
think these fund managers akiro price
and fidelity who chose to add snap as
one of their stocks to their mutual
funds they seriously still don’t fully
make their decisions logically they make
their decisions emotionally and they’re
handling billions of dollars of
investors money some of your money that
they chose to go on by snap so why do
you buy snap here’s why they buy snap
because it’s an exciting product
greatest and exciting product you don’t
go buy an exciting product watch some of
the numbers here so first of all snap
goes public okay snap on snapchat snap
parent company they go public I think
roughly around twenty six point six
billion dollars a number to go public
with watch this number here they go from
twenty six point six billion to twenty
point seven billion losing six billion
dollars of money after snapchat
announces first quarter they lose two
point two billion dollars right after
going public and I think if Evan Spiegel
goes up and it takes an income of 750
million dollars is what he takes himself
he takes an income of 750 million
dollars himself which is fine he can do
that after so it’s kind of like you’re
buying a stock snapchat announces
they’re going public the stock is snap
parent company they’re going public hey
we are selling these shares for this
price you give money to them they’re
selling shares to you and you know Evan
Spiegel cashes at 750 million of it and
then BOOM stock drops six billion
dollars of value the company drops from
twenty six point six to twenty point
seven billion dollars now why did this
happen I’m surprised that everybody was
surprised everybody kept asking me Pat
should I buy Facebook should I buy
snapchat i buy snapchat should i buy
snapchat look snapchats sister or
brother may as well be twitter they have
a lot in common
exciting products we use them I use
Twitter I use snapchat
I love snapchat I love Twitter but I
don’t love it as an investment because
as an investment you got to figure out a
way to take a dollar and turn it into
two dollars take two dollars and turn it
into four dollars take four and turn it
into a Facebook learn how to do it once
they brought Sheryl Sandberg from Google
and she brought the way on how to make
money and people started boosting their
pose and all these other ways for them
to start making money and Facebook value
went up my biggest suggestion to you is
don’t invest in stocks and companies
you’re excited about at the end of the
day what is going to be the most
valuable thing to be able to show for is
the following can you make money can you
show that you make money if you the
small business owner even you’re running
a smaller business if you can figure out
a way to show that you make money you’re
eventually going to have buyers and more
importantly your shareholders all like
snapchat shareholders who are very very
upset right now your shareholders will
be very happy with you and they’ll keep
doing business with you every single
time you don’t want to be a jack dorsey
you don’t want to be an Evan Spiegel you
don’t want to be one of these guys now
obviously you made your money yourself
but at the same time there’s a bunch of
shareholders up a lot of money into it
so from an emotional standpoint yes
Jack’s a billionaire yes Evans a
billionaire yes they both design great
exciting products yes it’s awesome yes
we love it from an investor’s standpoint
don’t fall emotionally with your money
and pay attention to your 401 k plans
and your mutual funds and see if these
guys these fund managers are deciding to
invest in a stock that still hasn’t
proven to make money now does this mean
that snap is not going to figure out how
to make money no but if they don’t
figure out how to make money it’s
another disaster story just like Twitter
don’t invest emotionally always invest
logically that’s my rant about snap
after all of you guys sending me all
these message
what I thought about it that’s what I
think what would just happen with snapchat
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