![]() I actually don’t think about the company’s performance since it went public. What do you think about Snap’s performance since it went public? Snapchat allowed its users the freedom to be able to put things up that weren’t “Instagram-ready.” ![]() If you’re only seeing the top 10% of somebody’s life, you don’t really know the whole person. They give people performance anxiety about what they’re willing to put on social media. ![]() You use them when you’re feeling happy, excited, and proud. This is obvious now, but this was a unique insight back in 2012 when Evan Spiegel said that Facebook and Instagram are highlight reels for your life. We needed to know that they didn’t just get lucky but that they will continue growing the business in the future. Snapchat was definitely creating a habit because we could tell from the engagement and retention, people were using the app several times a day.įinally, we look for a unique insight from the founders that explains why this is all happening. That really caught our attention because we look for something that has a scalable, repeatable way of growing, and this appeared to be doing so through word of mouth. It showed incredible growth, incredible engagement, and incredible retention. Snapchat was highly engaging with young women, which is predictive of something being used broadly in the future. What did you see in the company then that made you want to invest? You wrote Snapchat’s first big check in 2012. They’re kind of hit-makers for the rest of society. We think that young women are the early adopters of popular culture. It’s a service that could make sense for a whole lot of people, but for whatever reason, the initial user base is young and female. One of the ways we do that is we look for services that attract a lot of young female users initially. We’re looking for some signal that the company is not niche, and it will expand beyond what everyone will be doing in the future. LIEW: We’re usually looking for some indication that companies can become part of popular culture in the future. What do you look for in a company or founder before investing? TERM SHEET: You’ve had quite a year - Snap went public. Below is an abbreviated conversation with Liew. Liew, a partner at Lightspeed Venture Partners, invested $485,000 in Snap in April 2012 - an investment that returned more than $1 billion when the company went public. In Tuesday’s ruling, the Wisconsin Supreme Court ruled 6-1 in favor of Aurora Health Care, with three liberals and three conservatives in support and only conservative Justice Rebecca Bradley dissenting.Last Friday, I spoke with Jeremy Liew, the man who wrote Snap’s first check. The FDA warns that self-administering the drug, especially in doses intended for animals, can be lethal. But some members of online alternative medicine groups have reported self-administering highly concentrated, veterinary grade ivermectin to treat illnesses. The drug is commonly used in cattle and also approved for human use to fight parasites and certain skin conditions. ![]() The Wisconsin lawsuit is one of dozens filed across the country seeking to force hospitals to administer ivermectin for COVID-19. But the Food and Drug Administration has not approved it for use in treating COVID-19 and warns that misusing ivermectin can be harmful, even fatal. Ivermectin became popular among conservatives after commentators and even some far-right doctors held up the antiparasitic drug as a miracle cure for the coronavirus and other illnesses. (AP) - Wisconsin’s conservative-controlled Supreme Court ruled Tuesday that a hospital could not be forced to give a deworming drug to a patient with COVID-19, saying a county judge did not cite a legal basis for ordering the facility to administer ivermectin.
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