David Rosenthal: belief

Transcript context

…Mechanics and one day in. And one day in. Even though we’re lauding the S-1, a lot of it is pretty dry stuff. What we want to spend the bulk of this episode talking about and the really interesting thing to think about is like okay, what happens next? There’s all this buzz out there right now. People have all sorts of different opinions about Snap is doomed, Instagram is going to kill them or Evan Spiegel is a once-in-a- generation product genius. Where does the truth lie? So that’s what Ben and I have been thinking about over this past week and we thought the best way to do this is we’re going to introduce a new section to the show that we might use for IPOs going forward and we’re going to call this Narratives. Our idea is that there are really two narratives that are being told throughout an IPO. There’s the IPO process. There’s the narrative that the company wants to tell through their S-1, through their roadshow and all of the statements that they get to make both written and otherwise. Then there’s the narrative that pops up around it in the media, in the investor community, in the tech community, everybody reacting to what’s happening. So we thought, we distilled what we think are kind of the three most important points of both the narrative that Snap has been trying to tell over the past month and the narrative that the media and the investor press has been telling. And we’re going to talk about each of them and sort of judge how much we agree or disagree with them. We are.…

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