What's going on?

Snap Inc. and Pinterest both reported better-than-expected results late last week, but the companies� futures have very different filters on them.

What does this mean?

There isn�t exactly much to do these days, and social media B-listers Snapchat and Pinterest have been happy to step into the void and pick up millions of new users. All those extra eyeballs made their platforms much more attractive places for advertisers to park their brands last quarter, which might be why Snap and Pinterest�s sales climbed 62% and 76% respectively compared to the same time the year before.


Still, there was one big difference between them: Pinterest�s expectations for this quarter topped analysts� estimates, but Snap�s forecasts � hampered by recent privacy changes that’ll limit its ability to target ads � came in well below.

Why should I care?

The bigger picture: It pays to stay above the drama.

There was another reason Snap�s outlook took a hit: advertisers have temporarily been halting campaigns to protest its role in exacerbating the Capitol riots. And it�s not the only platform shedding ad dollars: Facebook has lost the tailwind it gained from the US election, and Twitter�s decision to ban the former president might dent this year�s activity and, with it, ad revenue. At least Pinterest didn�t report any such worries: its users’ zealotry is directed more toward macram� than insurrection.

Zooming out: What�s ByteDance waiting for?

Social media investors were treated to a new investment opportunity last week: Chinese video app Kuaishou made its debut on the Hong Kong Stock Exchange on Friday, and its shares nearly tripled. That put its value at $160 billion � not far off TikTok-owner ByteDance, which might now be more tempted than ever to list as well.