Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Snap CEO Evan Spiegel at TechCrunch Disrupt 2019 in San Francisco. Photo: Steve Jennings/Getty Images for TechCrunch

Despite Snap's well-known rivalry with Facebook, CEO Evan Spiegel did not give a resounding "yes" when asked on Friday at the TechCrunch Disrupt conference if breaking up Facebook would benefit society.

"I think the thing that everyone’s concerned about is that they’ve seen that competition has been what’s motivated Facebook to make changes over time. Those have really motivated Facebook to dramatically change their product offering in order to compete."
— Evan Spiegel

The big picture: "The concern is around anti-competitive practices," such as Facebook-owned Instagram suppressing links to Snapchat accounts, he said. As for an anti-trust investigation, "These investigations last 7 to 10 years... and basically nothing happens," said Spiegel, though he added he's not a regulator.

Spiegel also tried to distance his company's app from Chinese video app TikTok, whose popularity has recently exploded, by describing it as "premium user generated content" — created by users, but with more polished editing.

  • Meanwhile, Snapchat is focused on users creating and sharing content with their friends, which is why consumers find it compelling, he said. On the other hand, Snapchat has invested in high-quality content like shows from publishers.
  • "I think at a high level, we don't need to compete [in the middle] to be successful," Spiegel said, adding it is something the company would consider in the future.

Addressing his recent "don't go public" advice to companies: "I think the process of going public is actually an incredibly important process for a business," Spiegel said.

"[But]it can be challenging to grow a business with capital that is not very expensive and transition to a public market that has a very different set of metrics, frankly."

  • He later clarified to the interviewer, Josh Constine of TechCrunch, that he "was trying to make a joke” when he told entrepreneurs not to go public.

Go deeper

AP: Justice Dept. rescinds "zero tolerance" policy

A young girl waves to onlookers through the fence at the US-Mexico border wall at Friendship Park in San Ysidro, California in Nov. 2018. Photo: Sandy Huffaker/AFP via Getty Images

President Biden's acting Attorney General Monty Wilkinson issued a memo on Tuesday to revoke the Trump administration's "zero tolerance" immigration policy, which separated thousands of migrant children from their families at the U.S.-Mexico border, AP first reported.

Driving the news: A recent report by Justice Department Inspector General Michael Horowitz emphasized the internal chaos at the agency over the implementation of the policy, which resulted in 545 parents separated from their children as of October 2020.

Biden picks up his pen to change the tone on racial equity

Vice President Harris looks on as President Biden signs executives orders related to his racial equity agenda. Photo: Doug Mills-Pool/Getty Images

President Biden is making a down payment on racial equity in a series of executive orders dealing with everything from private prisons to housing discrimination, treatment of Asian Americans and relations with indigenous tribes.

The big picture: Police reform and voting rights legislation will take time to pass in Congress. But with the stroke of his pen, one week into the job Biden is taking steps within his power as he seeks to change the tone on racial justice from former President Trump.

Most Senate Republicans join Rand Paul effort to dismiss Trump's 2nd impeachment trial

Photo: Joshua Roberts-Pool/Getty Images

Forty-five Senate Republicans, including Minority Leader Mitch McConnell, supported an effort to dismiss former President Trump's second impeachment trial.

Why it matters: The vote serves as a precursor to how senators will approach next month's impeachment trial, making it highly unlikely the Senate will vote to convict. The House impeached Trump for a second time for "incitement of insurrection" following events from Jan 6. when a pro-Trump mob stormed the Capitol.