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Member Content 3 hours ago - Business Kerry Flynn Ilustration: Axios Visuals Subscription tiers are proliferating across social media platforms with perks for power users. Why it matters: Social apps are benefitting from a new revenue stream beyond advertising.

In this file photo taken on March 1, 2017 the Snapchat log-in page is displayed on a mobile phone in Glendale, California. (Robyn BECK / AFP) The tech firm behind social network Snapchat cut 1,000 jobs on Wednesday, saying AI is boosting efficiency as it strives to be profitable. The shake-up at Snap involves about 16 percent of its full-time employees and elimination of more than 300 unfilled roles, chief executive Evan Spiegel said in a memo shared by the company. “We believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity and better support our community, partners and advertisers,” Spiegel wrote. “We have already witnessed small squads leveraging AI tools to drive meaningful progress across several important initiatives.” The southern California-based tech firm joins a growing list of companies reducing staff while extolling productivity gains resulting from the use of AI. “This is an incredibly difficult decision, and I am deeply sorry to the colleagues who will be leaving us,” Spiegel wrote. Snap expects to cut more than $500 million from its annual costs by the second half of this year, establishing “a clearer path to net-income profitability,” the memo said. Snap has

Terrible reviews aside, Euphoria’s season 3 premiere landed 8.5 million viewers, up 44% from last season; Alex Cooper is making her acting debut in Colleen Hoover’s Verity adaptation; Olivia Rodrigo’s music video for “Drop Dead” premiered a few hours ago and is already at 3 million views; Thom Bettridge interviewed Petra Collins — who filmed Olivia’s new music video, btw — about her new book Star; and Billboard looks at “how Tate McRae leveled up to main pop girl status.” RAINBOW FLIP-FLOPS ARE GEN Z’S SANDAL OF THE SUMMER , nymag Rainbows, the early-aughts staple worn by Zac Efron , Kristen Stewart , and the entire cast of Laguna Beach , have once again become the warm-weather shoe of choice for young people, displacing Birkenstocks at frat bars from Miami University to UC San Diego. “Everyone at Baylor, like legit everyone, wears them,” said Baylor sophomore Lily Patterson. Their sudden ubiquity also prompted UMass Amherst student Ezra Holt, a self-described former “Birkenstocks stan,” to think, “Wait, I need a pair of flip-flops, specifically Rainbow flip-flops.” Syracuse student Violet Alao said, “I’m running errands, I’m putting them on. I’m wearing a dress, I’m putting them on. I’m wearing jeans and going

Snapchat’s parent company is eliminating 95 Washington state jobs as part of a global restructuring blamed on artificial intelligence. Snap Inc. filed notice with the Washington State Employment Security Department confirming the cuts will hit 56 workers in Bellevue, 37 in Seattle, and two remote employees, according to the Puget Sound Business Journal . Separations are expected between April 16 and June 16. The Washington terminations are part of a global workforce reduction of roughly 1,000 employees, which represents about 16 percent of Snap’s total headcount. The company says the layoffs are permanent and not tied to any relocation or outsourcing of its Washington operations. Spiegel tells employees AI now writes 65% of Snap’s code CEO Evan Spiegel notified employees about the cuts in a company-wide letter. He cited AI as a central reason for the decision, saying the technology now generates more than 65 percent of its new code. “We believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers,” Spiegel wrote to employees, according to CNBC. “We have already witnessed small squads leveraging AI tools to drive meaningful progress across several important initiatives, including

For U.S. teens who use TikTok, Instagram, and Snapchat, one of the apps stands out as more of a distraction than the others, according to a new survey from Pew Research Center. More than a quarter of teens shared that they spend too much time on TikTok, while more than a third said the app negatively affects their sleep. Twenty-nine percent of respondents said TikTok hurts their productivity. Smaller shares of teens reported similar feelings about Instagram and Snapchat. Still, eight in 10 teens said they turned to TikTok specifically for entertainment. While respondents also considered Instagram and Snapchat reliably entertaining, teens were more likely to use those apps to keep up with friends and family, compared to TikTok. Despite acknowledging TikTok's negative impact on their sleep and productivity, 71 percent of teens said the app neither hurt or helped their mental health. Three-quarters of teens said the same of Instagram and Snapchat. Nineteen percent of respondents shared that TikTok actually improved their mental health. In general, about seven in 10 teens said their experiences on TikTok, Instagram, and Snapchat are mostly positive. Only three percent reported largely negative experiences. The remaining teens characterize their engagement on the platforms as

Snapchat's parent company is conducting sweeping layoffs, which will affect almost 100 Seattle-area tech workers.

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Snap Inc. said in a regulatory filing that the job cuts will cost about $95 million to $130 million in severance payments and related costs. SANTA MONICA, Calif. — The owner of social media platform Snapchat said Wednesday it's eliminating about 16% of its global workforce, or about 1,000 jobs that will be cut in the company's latest round of layoffs. Snap Inc. said in a regulatory filing that the job cuts will cost about $95 million to $130 million in severance payments and related costs. “The headcount reduction is designed to further streamline our operations and reallocate resources toward our highest-priority initiatives, leveraging increased operational efficiencies to accelerate our path toward net-income profitability," the company said in its filing. Snap had 5,261 full-time employees as of Dec. 31, 2025, the company said in its latest annual report. CEO Evan Spiegel said in a letter to staff that another 300 open roles would not be filled. It's not the first time the Santa Monica, California-based company has eliminated jobs. In 2024, Snap cut 10% of its workforce, or about 530 employees. Snap cut 3% of its staff in late 2023, and in 2022 it slashed its workforce by 20%. Snapchat, which is

Snigdha Gairola Tue, 14 April 2026 at 11:31 am GMT-5 2 min read Snap Inc. CEO Evan Spiegel on Sunday said artificial intelligence is transforming the company, calling it the best thing that has ever happened to Snap. In an interview with David Senra, Spiegel described AI as "probably the best thing that’s ever happened" to Snap, pointing to its ability to help the company move faster despite limited resources. Spiegel said Snap has spent years competing against much larger rivals, calling it "like trench warfare with monopolies for 15 years." Don't Miss: A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why Experts say these common ETF pitfalls can catch new investors off guard That experience, he added, taught the company an early lesson: "there's no moat in software," meaning competitors can quickly replicate features. With AI making it even easier to copy products, Spiegel said Snap has focused on building harder-to-replicate advantages. "We've evolved our business to really focus on the things that hard to copy," he said, citing network-driven communication, creator ecosystems and augmented reality platforms. He also emphasized the rapid internal impact of AI

A young woman who alleges disgraced Rep. Eric Swalwell (D-Calif.) once tried to lure her to a hotel room after sending her pervy messages on Snapchat says she constantly thinks about how she dodged a bullet — saying the close call left her shaken to the core. Breaking her silence for the first time, Annika Albrecht told CBS News on Tuesday that the married congressmen started interacting with her soon after she met him on a class trip in college. She claimed Swalwell, who initially started chatting to her under the guise of a professional mentorship, quickly asked for her Snapchat. Annika Albrecht (center) says she keeps “thinking about how lucky I am that I didn’t go to that hotel” with disgraced Rep. Eric Swalwell. CBS News Eventually, she alleged, the messages crossed the line to “sexually inappropriate” before he hit her with the hotel invite. “I keep thinking about how lucky I am that I didn’t go to that hotel,” Albrecht said, adding that she immediately stopped responding to him. “It was very clear what the connotation was.” Another victim has accused Swalwell of sexually assaulting her in a hotel room in New York City in 2024. The woman