Before Lyft or Uber or WeWork, there was Snapchat. A red-hot, multi-billion dollar startup that melted upon contact with the public markets.
Why it matters: It's a cautionary tale for those who are quick to leave the 2019 cohort for dead. Snap shared many of the unfavorable traits of those that would follow. Giant losses, unclear path to profitability, and a CEO whose hubris and poor communication skills had damaged both morale and product development.