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Unless You Think That The Future Belongs To A Company That Makes Ugly Glasses
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When Snapchat parent Snap Inc. did its IPO last week, the price skyrocketed, but you might recall that I wondered right here in this column what the hell people thought they were investing in. And the price has fallen to earth since then, still above what most analysts think it's really worth. You'll recall that Snap says it's a "camera company" reinventing the idea of cameras, whatever the F that means. Did everyone fail to learn the lessons of tech bubbles of the past? Are we so hungry for the Next Big Thing that we'll throw money at everyone, even if a business plan isn't obvious? (Los Angeles Times)
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