Snapchat Funds the Future Beyond Snapchat

Evan explains why direct revenue matters, how Snap incubates new apps like Saturn, and how he balances invention with ruthless focus.

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Evan Spiegel is the co-founder and CEO of Snap Inc., the company behind Snapchat.

At Stanford, he enrolled in the product design program. In 2011, in a class project, he and two classmates — Reggie Brown and Bobby Murphy — sketched out the idea for an app where photos disappeared. The insight was counterintuitive: in an era when everyone was obsessed with permanence and curation online, ephemerality might be the point. They built it. Spiegel dropped out before graduation to run it full time.

What followed was one of the most turbulent ascents in Silicon Valley history. Facebook tried to buy Snapchat in 2013 for $3 billion in cash. Spiegel, 23 years old, said no. The decision was mocked at the time and later vindicated. Snap went public in March 2017 at a $24 billion valuation, making Spiegel — still in his mid-twenties — one of the youngest self-made billionaires in history.

Spiegel has always argued that Snap is a camera company — that the camera is the starting point for how the next generation communicates, not a feature, but the interface itself. Snapchat pioneered Stories, a format that Instagram, Facebook, WhatsApp, and YouTube all copied within years. It pioneered augmented reality filters at consumer scale. It built a maps product that shows where your friends are in real time. Every one of those ideas was imitated.

Now he's making his biggest bet yet. Snap's sixth-generation Spectacles are AR glasses — a genuine attempt to build the successor to the smartphone. They overlay digital information onto the real world in real time. Spiegel believes the camera on your face will eventually replace the screen in your pocket.

He and his wife Miranda Kerr run the Spiegel Family Fund, focused on arts, education, and human rights. In 2022 alone, he gave $20 million to a scholarship program in Stockton and wiped out the student debt of an entire graduating class at Otis College of Art and Design.

Show notes: https://www.davidsenra.com/episode/evan-spiegel

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