Twitter tests homescreen button to easily switch to reverse chronological

Twitter is digging one of its most important new features out of its settings and putting it within easy reach. Twitter is now testing with a small number of iOS users a homescreen button that lets you instantly switch from its algorithmic timeline that shows the best tweets first but out of order to the old reverse chronological feed that only shows people you follow — no tweets liked by friends or other randomness.

Sometimes you want to see the latest Tweets, first. We’re testing a way for you to make it easier to switch your timeline between the latest and top Tweets. Starting today, a small number of you will see this test on iOS. pic.twitter.com/7NHLDUjrIv

— Twitter (@Twitter) October 31, 2018

Twitter had previously buried this option in its settings. In mid-September, it fixed the setting so it would only show a raw reverse chronological feed of tweets by people you follow with nothing extra added, and promised a more easily accessible design for the feature in the future. Now we have our first look at it. A little Twitter sparkle icon in the top opens a menu where you can switch between Top Tweets and Latest Tweets, plus a link to your content settings. It would be even better if it was a one-tap toggle.

Twitter’s VP of Product Kayvon Beykpour tweeted that “We want to make it easier to toggle between seeing the latest tweets the top tweets. So we’re experimenting with making this a top-level switch rather than buried in the settings. Feedback welcome.. what do you think?”

Given the backlash back in 2016 when Twitter started shifting to an algorithmically sorted timeline based on what you engaged with, many users will probably think this is great. Whether you’re trying to follow a sports game, a political debate, breaking news, or are just glued to Twitter and want the ordering to make more sense, there are plenty of reasons you might want to switch to reverse chronological.

Still, Twitter’s apprehension to make the setting too accessible makes sense. Hardcore users might prefer reverse chronological, but for most people who only open Twitter a few times per day or week, that’d mean they’d likely miss the tweets from their closest friends that could be drown out by the noise of everyone else. Twitter’s user growth rate perked up after the shift to algorithmic.

We’ve asked whether the setting reverts to the Top Tweets default when you close the app. That might be frustrating to some expert users, but could prevent novice users from accidentally getting stuck in reverse chronological and not knowing how to switch back. The company tells TechCrunch that it’s trying out several different duration options for the setting based on user inactivity to see what works best. For example, one version will revert the setting to the Top Tweets default if they’re gone for a day. That method would make sure people who’ve been inactive long enough to forget changing their timeline setting will get the default back and not end up stuck in a chronological abyss.

If Twitter gets the reversion to default situation figured out, the new button could make the service much more flexible, thereby boosting usage. You could start algorithmic in the morning or after a weekend away to see what you missed, then quickly toggle to reverse chronological if something big happens or you’ll be on it non-stop all day to get the real-time pulse of the world.

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Scared to trade stocks? Titan algorithmically invests for you

Titan could put an end to stock market FOMO. The app chooses the best 20 stocks by scraping top hedge fund data, adds some shorts based on your personal risk profile and puts your money to work. No worrying about market fluctuations or constantly rebalancing your portfolio. You don’t have do anything, but can get smarter about stocks thanks to its in-app explanations and research reports. Titan wants to be the easiest way to invest in stocks for a mobile generation that wants an affordable coach to guide them through the market themselves.

“Our goal is to take things that aren’t accessible [in wealth management] and make them accessible, starting with hedge funds,” says Titan co-founder Joe Percoco. That potential to democratize one of the keys to financial mobility has won Titan a $2.5 million seed round from Y Combinator’s co-founder Paul Graham, president Sam Altman and partners including Gmail creator Paul Bucheit. The rest of the capital comes from Maverick Ventures, BoxGroup and Liquid2 Ventures.

“Titan is where investing meets virality,” says Graham. “Those are two very powerful forces.” Since TechCrunch broke the news of Titan’s launch in August, it’s doubled its assets under management to $20 million and hired its first non-founder engineer.

Now it’s launching in-app educational videos so stock market dummies can get up to speed if they want to understand where their money’s going amidst a swirling see of financial news. “There are so many different headlines telling so many different narratives,” Percoco tells me. “Everyone is searching for explanations in a voice they trust. An ‘ETF’ can’t talk back. Sometimes a human face is better than writing. A video can really help people make choices.” Here’s its two-minute video about Facebook’s Q2 earnings a few months ago, explaining why the share price crashed 25 percent:

Percoco and Clayton Gardner met on their first day of Wharton business school, while their third co-founder was earning a hedge fund patent and studying computer science at Stanford. They went on to work at hedge funds and private equity firms like Goldman Sachs, but got fed up just growing the fortunes of the already rich.

So they started Titan to invent a modern, mobile version of BlackRock, the investment giant founded in the 1980s. Titan uses the public disclosures of hedge funds to find consensus around the 20 best performing stocks. With as little as $1,000, users can let Titan robo-manage their investments for a 1 percent fee on assets. Users provide some info on how big they want to gamble, and Titan personalizes their portfolio with more or less conservative shorts to hedge their bets.

Titan’s simplicity combined with the sense of participation could help it grow quickly. It sits between do-it-yourself options like Robinhood or E*Trade, where you’re basically left to fend for yourself, and totally passive options like Wealthfront and Betterment, where you’re so divorced from your portfolio that you’re not learning. Managed hedge funds and fellow active investment vehicles like BlackRock with a human advisor can require a $100,000 minimum investment that’s too steep for millennials.

“Even the best hedge fund in the world is only going to send you a PDF every 90 days,” Percoco explains. But Titan doesn’t want you nervously checking your portfolio non-stop. “Our median user checks the app once per day.” That seems like a healthy balance between awareness and sanity. It thinks its education and informative push notifications make it worth a higher required investment and fees than Wealthfront charges.

Essentially, Titan is a stock trading auto-pilot merged with a flight simulator so you improve your finance skills without having to fear a crash. Percoco tells me the sense of accomplishment that engenders is why clients say they’re telling friends about Titan. “When I invest, I look for companies that are growing quickly and making a huge positive impact on the world. Titan is one of those companies,” investor Altman says. “I think they could improve the financial well-being of an entire generation.”

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Consumers spent $329M on the top 10 subscription video apps last quarter

Last year, the top subscription video apps like Netflix and Hulu raked in a combined $781 million, and that trend is showing no sign of slowing down in 2018. In the third quarter of 2018, U.S. consumers spent an estimated $329 million in the top 10 subscription video-on-demand apps across the App Store and Google Play – a figure that’s up 15 percent from the $285 million spent in Q1.

The data is the latest in a new report from app intelligence firm Sensor Tower, which has been following the growth of subscription video apps for some time. Last year, for example, it found that Netflix’s app topped the charts in terms of revenue, when compared with all the other non-game apps on the market.

Netflix hasn’t fallen from its top ranked position, the new data shows. In fact, it’s continuing to grow.

The app pulled in an estimated $132 million in consumer spending across the app stores in Q3, which is up 78 percent from the $74 million spent in the third quarter of 2017.

However, Hulu is now growing faster, the report found. It saw subscription revenue jump 86 percent to $39 million, up from $21 million a year ago.

It seems some consumers may have made the move to Hulu thanks to the extra cash they had on hand, thanks to dropping their HBO subscription.

The only subscription video app that saw revenue decline in Q3 was HBO NOW, which took in $41 million in the quarter, down 40 percent from the $68 million in Q3 2017. But notably absent this quarter was the network’s biggest draw, “Game of Thrones,” which had been airing at this time last year. A drop was expected.

The top grossing chart of these subscription video apps for Q3 2018 looks very similar to last year’s in terms of the apps included, and sometimes, even their rankings.

But two services made moves, the report says.

YouTube TV jumped from $3 million in the year-ago quarter to $16 million in Q3 on Apple’s App Store, thanks to its expanded market penetration and consumer adoption. And ESPN Live Sports, which added in-app subscriptions in Q2, grossed $4.6 million in the third quarter, up 119 percent from Q2.

Even CBS is doing well, despite the fact that not everyone loves the new “Star Trek.”

Still, it appears CBS made a good move by betting on fans’ devotion to the franchise, as U.S. consumers spent $6 million in the app in Q3 2018, up 50 percent from the $4 million spent in Q3 2017.

The report’s data includes subscription revenues only, not refunds or in-app advertising revenues, Sensor Tower notes.

The broad increases in consumer spending on these video apps is yet another example of the significant and growing subscription business – much of which is taking place on mobile. Subscriptions accounted for $10.6 billion in consumer spend on the App Store in 2017, and are poised to grow to $75.7 billion by 2022, an earlier report found.

However, the top subscription apps aren’t all video apps. Others that consistently rank highly in the U.S. include Tinder, Spotify and Pandora, for example. Currently, the top grossing chart for the App Store includes a number of non-games, like Netflix (#1), YouTube (#2), Tinder (#3), Pandora (#4), Hulu (#7), and Bumble (#8).

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Zuckerberg says the future is sharing via 100B messages & 1B Stories/day

The News Feed won’t sustain Facebook forever, and that’s scaring investors. Today on Facebook’s earnings call, Mark Zuckerberg stressed that sharing is shifting to private chat, where people send 100 billion messages per day on Facebook’s family of apps, and Stories, where he says people share 1 billion of these slideshows per day (though it’s unclear if that includes third-party apps like Snapchat).

But that means Facebook will have to realign its business towards these mediums where monetization is more complex and it has less experience. The result of Zuckerberg’s comments was a reversal of Facebook’s initial 2 percent share price gain after earnings were announced that dragged it down to a 3.5 percent loss. That was only reversed when Zuckerberg said Facebook would reduce limits on video advertising, pushing shares up 3 percent in after-hours trading.

Facebook’s year-over-year revenue growth has already slowed from 59 percent in Q3 2016, to 49 percent a year ago, to 33 percent now as Zuckerberg admits it’s hitting saturation in developed markets, plus it’s running out of News Feed space. Now it will both have to deal with the sharing medium shift, and that the new users it’s adding in the Asia-Pacific and Rest Of World regions earn it 10X less than users in North America.

Facebook shares climb despite Q3 user growth and revenue

Battling iMessage

In messaging, Zuckerberg says “People share more photos, videos, and links on WhatsApp and Messenger than they do on social networks.” He sees Facebook’s position as strong, saying “We’re leading in most countries”, though that’s mostly in the developing world Android market where people choose their own default messaging app. “Our biggest competitor by far is iMessage. In important countries like the US where the iPhone is strong, Apple bundles iMesssage as the default texting app, and it’s still ahead” Zuckerberg notes.

The “bundled” language harkens back to to antitrust lawsuits against Microsoft for bundling computers with Internet Explorer. With Apple CEO Tim Cook constantly harping on the poor privacy practices of ad-supported companies like Facebook, Zuckerberg might be gunning to draw regulator attention to iMessage.

Facebook is starting to more aggressively monetize Messenger through inbox ads, and its now selling enterprise tools to brands on both Facebook and WhatsApp that let them pay to ping users. But Facebook risks its chat apps seeming annoying or intrusive if it packs in too many ads or allows too much Message spam. Users could stray to status quos like iMessage and Android Messages if it puts monetization above the user experience.

Dominating Snapchat

On Stories, Zuckerberg says Facebook is doing even better. Over 1 billion people use its Stories features across Facebook, Messenger, Instagram, and WhatsApp each day, compared to 186 million daily users on Stories inventor Snapchat as a whole. Stories are where the majority of Facebook sharing growth is happening, and Facebook Stories are gaining momentum after a slow and buggy start. That’s why Zuckerberg never mentioned Snapchat, and instead talk about YouTube as its primary competitor in video.

The problem is that creating attractive video ads, especially vertical full-screen ones for Stories, is beyond the capability of the long-tail on small businesses that have fueled Facebook’s News Feed ad revenue. Users often rapidly skip through Stories ads, and Facebook currently doesn’t offer unskippable ones like Snapchat. Many people don’t think to tap or swipe up to visit a link from a Story, or simply don’t want to lose their place in ways that didn’t happen on desktop or even mobile feed ads.

Chasing YouTube

Beyond Stories, Facebook salvaged its after-hours share price by discussing how it plans to show more video, and therefore more of its lucrative video ads. Back in January, Facebook admitted its Q4 user count had declined and revenue might stumble in part because it had decided to show people fewer viral videos that they watch passively. This came as part of its drive for Time Well Spent. But now, Zuckerberg says that Facebook has cracked the code for how to make passive video consumption a positive experience, so Facebook will lift some limits:

“People really want to watch a lot of video. To a large degree we’ve had to rate limit its growth, and we need to do the things so we can stop limiting it. The things that have caused us to limit it are on the one hand, when we see passive consumption of video displacing social interactions … We needed to figure out a way that video can grow but people can also keep on interacting and doing what they tell us that they uniquely want from Facebook. And now I think we’re starting to work through what the formula is going to be so we can take some of those rate limits off and let video grow at the rate that it wants to. I feel that that’s a very exciting opportunity ahead.”

Across Facebook’s other products, Zuckerberg noted that 800 million people now use Marketplace, its Jobs feature have helped people find 1 million jobs, and its birthday fundraisers have raised $300 million alone this year. But it will be teaching advertisers how to effectively create sponsored messages and Stories ads that will define whether Facebook’s revenue keeps growing.

Facebook shares climb despite Q3 user growth and revenue

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Google Pixel 3 XL users are getting twice the notch, thanks to a bug

Over the past two years, the notch move from anomaly to fact of life, and no company has proven itself more pro-notch than Google. From its embrace of #notchlife in Android Pie to the downright gigantic one found up top on the Pixel 3 XL, Google’s really notchin’ it up.

In fact, as noted by Android Police the Pixel 3 XL has a notch so nice, Google’s delivering it twice. A number of owners have reported an (admittedly hilariously bug) that’s causing the massive headset to double up on the notch, with a second cutout appear on the side of the device.

So my Pixel randomly grew another notch today. https://t.co/c6Pff9MVmW pic.twitter.com/ugjfLmCkDZ

— UrAvgConsumer (@UrAvgConsumer) October 24, 2018

Google has acknowledge (acknotchleged?) the issue and noted that it’s working on a fix, which should be coming soon. The company hasn’t offered a reason behind the issue, but it appears to stem from Pie’s built-in notch feature, and likely has something to do with how the background adjusts when the handset changes from portrait to landscape mode.

It seems even in 2018, that’s a notch too far.

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Google’s Gboard now lets you create a set of emoji that look like you

Last summer, Google introduced its own take on Bitmoji with the launch of “Mini” stickers in its keyboard app, Gboard, which leverage machine learning to create illustrated stickers based on your selfie. Today, Google is expanding the Mini Stickers with the launch of what it calls “Emoji Minis” – meaning, emoji-sized stickers that look like you.

Similar to the initial launch of Mini stickers, the new emoji are also created using machine learning techniques, Google says.

The company said the idea is to give people a way to use emoji they feel better represent who they really are.

“Emoji Minis are designed for those who may have stared into the eyes of emoji and not seen yourself staring back,” explained Google, in a blog post. “These sticker versions of the emoji you use every day are customizable so you can make them look just like you.”

That means your emoji can have differently colored hair – like green or blue or gray, for example – or piercings. It can be wearing a hat, head covering, or glasses.

Google says it uses neural networks to suggest skin tones, hairstyles, and accessories that you can then fine tune. You can choose a color for your hair, facial hair, or select different types of head covering and eyewear. You can also add freckles or wrinkles, if you want.

The result is a not just a single emoji, but a selection of options. For example, you can use your custom emoji as a zombie, mage, heart eyes, crying eyes, shruggie, and all the others.

This the third style of Mini stickers, first introduced last year. Already, these stickers come in two other styles – a more expressive “bold” and a nicer “sweet.”

While it may seem like a minor thing, creative emoji – and specifically, personalized emoji – can be a big draw for messaging apps. Apple advertises its clever Animoji and personalized Memoji as flagship features of its newer Face ID-powered phones. Snapchat bought Bitmoji (Bitstrips) to give its users access to more tools for creative expression. Samsung lets you make your own AR emoji that look like you. And people celebrated when the Unicode Consortium diversified to include more skin tones, and added, at long last, redheads.

Gboard, whose app has been downloaded over a billion times on Google Play, has a similar draw, thanks to its selfie-based stickers.

The company says the new Emoji Minis are available in all Gboard languages and countries, on both iOS and Android, starting today.

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How to watch the live stream for Apple’s iPad and Mac keynote

Apple is holding a keynote today at the Brooklyn Academy of Music’s Howard Gilman Opera House, and the company is expected to unveil a brand new iPad Pro as well as updated Mac computers. The event starts at 10 AM in New York (7 AM in San Francisco, 2 PM in London, 3 PM in Paris), you’ll be able to watch the event as the company is streaming it live.

If you live in Europe and already put a note in your calendar, make sure you got the time right as daylight saving time has yet to happen in the U.S. New York is currently 4 hours behind London, 5 hours behind Paris, etc.

Apple is likely to unveil a new iPad Pro to replace the 10.5-inch and 12.9-inch iPad Pro. Rumor has it that it’ll look nothing like your current iPad. The device should get rounded corners, thinner bezels and a Face ID sensor. Apple could also switch to USB-C instead of Lightning and refresh the Apple Pencil.

On the Mac front, the MacBook Air could get a refresh. This could be Apple’s new entry-level laptop. But it should sport a retina display for the first time. There could also be a new Mac Mini of some sort after all those years without an update.

Finally, maybe Apple will tell us why the AirPower charging mat is still not available. Apple might also update the AirPods. But maybe it’ll happen later.

If you have a recent Apple TV, you can download the Apple Events app in the App Store. It lets you stream today’s event and rewatch old events. Users with pre-App Store Apple TVs can simply turn on their devices. Apple is pushing out the “Apple Events” channel so that you can watch the event.

And if you don’t have an Apple TV, the company also lets you live-stream the event from the Apple Events section on its website. This video feed now works in all major browsers — Safari, Google Chrome, Mozilla Firefox and Microsoft Edge.

So to recap, here’s how you can watch today’s Apple event:

• On iOS: Safari.
• On the Mac: Safari, Google Chrome or Mozilla Firefox.
• On Windows: Google Chrome, Mozilla Firefox or Microsoft Edge.
• An Apple TV with the Apple Events app in the App Store.

Of course, you also can read TechCrunch’s live blog if you’re stuck at work and really need our entertaining commentary track to help you get through your day. We have a big team in the room this year.

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iHeartRadio is coming to Mexico

iHeartMedia announced today that its streaming radio app iHeartRadio is coming to Mexico. In fact, a beta version of the app is already live, with plans for an official launch on November 3.

As part of this launch, the company is partnering with Mexican broadcaster Grupo ACIR, which owns the Amor, Mix and La Comadre radio brands. iHeartRadio México will include all 56 Grupo ACIR and 850 iHeartMedia broadcast radio stations.

The app will also offer digital-only stations from both companies, as well as English- and Spanish-language podcasts. (iHeartMedia is getting more serious about podcasts, as indicated by its recent acquisition of the parent company behind HowStuffWorks.)

The launch is timed to coincide with iHeartRadio Fiesta Latina in Miami, and the broadcasters are promoting the partnership with a contest for one Grupo ACIR listener to win a VIP trip to the event.

“This partnership will allow us to better connect with our audience by delivering an incredible free music listening experience and providing amazing technology to our users and partners,” said Grupo ACIR CEO Antonio Ibarra in the announcement.

At launch, the app won’t include some of iHeartRadio’s other features, like on-demand music streaming. Chief Product Officer Chris Williams said this follows the roadmap the company used when launching in markets like Australia, Canada and New Zealand — it starts out with live radio and podcasts, because negotiating for international streaming rights takes time.

“It’s faster for me to develop and release the app, get it out there and get adoption, establish what we are and who we are,” Williams said. “Then we can get the rights and add the functionality.”

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YC-backed Observant uses the iPhone’s infrared depth sensors to analyze user emotions

Observant has found a new way to use the fancy infrared depth sensors included on the iPhone X, XS and XR: analyzing people’s facial expression in order to understand how they’re responding to a product or a piece of content.

Observant was part of the winter batch of startups at accelerator Y Combinator, but was still in stealth mode on Demo Day. It was created by the same company behind bug-reporting product Buglife, and CEO Dave Schukin said his team created it because they wanted to find better ways to capture user reactions.

We’ve written about other startups that try to do something similar using webcams and eye tracking, but Schukin (who co-founded the company with CTO Daniel DeCovnick) argued that those approaches are less accurate than Observant’s — in particular, he argued that they don’t capture subtler “microexpressions,” and they don’t do as well in low-light settings.

In contrast, he said the infrared depth sensors can map your face in high levels of detail regardless of lighting, and Observant has also created deep learning technology to translate the facial data into emotions in real time.

Observant has created an SDK that can be installed in any iOS app, and it can provide either a full, real-time stream of emotional analysis, or individual snapshots of user responses tied to specific in-app events. The product is currently invite-only, but Schukin said it’s already live in some retail and e-commerce apps, and it’s also being used in focus group testing.

Of course, the idea of your iPhone capturing all your facial expressions might sound a little creepy, so he emphasized that as Observant brings on new customers, it’s working with them to ensure that when the data is collected, “users are crystal clear how it’s being used.” Plus, all the analysis actually happens on the users’ device, so no facial footage or biometric data gets uploaded.

Eventually, Schukin suggested that the technology could be applied more broadly, whether that’s by helping companies provide better recommendations, introduce more “emotional intelligence” to their chatbots or even detect sleepy driving.

As for whether Observant can achieve those goals when it’s only working on three phones, Schukin said, “When we started working on this almost a year go, the iPhone X was the only iPhone [with these depth sensors]. Our thinking at the time was, we know how Apple works, we know how this technology propagates over time, so we’re going to place a bet that eventually these depth sensors will be on every iPhone and every iPad, and they’ll be emulated and replicated on Android.”

So while it’s too early to say whether Observant’s bet will pay off, Schukin pointed to the fact that these sensors have expanded from one to three iPhone models as a sign that things are moving in the right direction.

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At long last, pet portraits with background blur are possible on the iPhone XR

The new iPhones have some great new photography features, but the XR lacks a couple, for instance portrait mode for non-people subjects, owing to its sadly having only the one camera. So last year! Fortunately third-party camera app Halide is here to help you get that professional-looking bokeh in your doggo shots.

There’s more to this than simply the lack of a second camera. As you know, because you read my article, The future of photography is code — and the present too, really. What’s great about this is that features that might otherwise rely on specific hardware, a chip or sensor, can often be added in software. Not always, but sometimes.

The future of photography is code

In the case of the iPhone XR, the lack of a second camera means depth data is very limited, meaning the slack has to be taken up with code. The problem was that Apple’s machine learning systems on there are only trained to recognize and create high-quality depth maps of people. Not dogs, cats, plants or toy robots.

People would be frustrated if the artificial background blur inexplicably got way worse when it was pointed at something that wasn’t a person, so the effect just doesn’t trigger unless someone’s in the shot.

The Halide team, not bound by Apple’s qualms, added the capability back in by essentially taking the raw depth data produced by the XR’s “focus pixels” and applying their own processing and blur effect to make sure it doesn’t do weird things. It works on anything that can realistically be separated from the background — pets, toy robots, etc. — because it isn’t a system specific to human faces.

As they write in a blog post explaining some of this at length, the effect isn’t perfect, and because of how depth data is sent from the camera to the OS, you can’t preview the function. But it’s better than nothing at all, and maybe people on Instagram will think you shelled out for the XS instead of the XR (though you probably made the right choice).

The update (1.11) is awaiting Apple approval and should be available soon. If you don’t already own Halide, it costs $6. Small price to pay for a velvety background blur in your chinchilla pics.

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The OnePlus 6T is launching on T-Mobile

This year marks an interesting turning point for OnePlus. In December, it will hit the five year mark. The Oppo-backed company has managed to grow significantly in that relatively short window. Back in June, it noted that it had sold one million units of its latest smartphone in the first 22 days.

Continued growth will require some strategic partnerships. In the States, that means partnering with a carrier — after all, most smartphone users still purchase devices through those channels here. Fittingly, along today’s launch of the 6T, OnePlus is announcing its first U.S. carrier partner, T-Mobile.

Why choose the third largest carrier? Here’s what CEO Pete Lau says of the deal, “T-Mobile is the perfect wireless partner for us in the US. The OnePlus 6T clocks some serious speed, and we wanted our customers to unleash it on the fastest network in the nation.”

It’s official! Get your #OnePlus6T at over 5,000 @Tmobile stores across the US. #UnlockTheSpeed pic.twitter.com/Z73biIDG3g

— OnePlus (@oneplus) October 29, 2018

T-Mobile’s foul mouthed CEO John Legere also notes that somewhere in the neighborhood of 200k OnePlus owners are using their unlocked handsets with the carrier. In addition to whatever sort of deals were worked out between the two companies, T-Mobile’s size offers a good opportunity to help OnePlus grow at a manageable rate. That kind of modest expansion has long been a key to the company’s success.

While other smartphone manufacturers are falling over themselves to one up the competition, OnePlus has focused on offering a solid handset at a decent price. But even $549 looks intimidating to users accustom to purchasing phones at carrier subsidized rates.

The 6T will be available from T-Mobile on November 1 — though folks in New York City can pick one up starting tonight at the T-Mobile store in Times Square.

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Robby Stein to talk about Instagram beyond Systrom at Disrupt Berlin

Last month, Instagram co-founders CEO Kevin Systrom and CTO Mike Krieger announced that they would be leaving Instagram and Facebook. All eyes are now on Instagram to figure out what’s going to happen to the photo and video app. That’s why I’m excited to announce that Instagram Product Director Robby Stein is joining us at TechCrunch Disrupt Berlin.

Instagram is Facebook’s next big bet. Facebook’s growth has slowed down, which puts even more pressure on Instagram. Compared to Facebook, Instagram is still a relatively young platform. More and more people are joining Instagram and stories are boosting engagement.

Facebook currently has 2.23 billion monthly users while Instagram has 1 billion users. Many people have an active account on both platforms. But does Instagram have what it takes to reach Facebook’s scale?

When it comes to product, Instagram has relentlessly released new features over the past few years. Stories have become a creative playground, stars can share longer videos on IGTV and you can now start group video chats from the app.

It’s impressive to see that such a big platform keeps releasing radical changes that will affect over a billion users. Instagram has been moving incredibly fast. And it’s been key when it comes to fostering growth.

Stein will tell us more about Instagram’s product design strategy and what’s coming up. It’s always interesting to hear the perspective of an insider to analyze product decisions and discuss them.

Before joining Instagram, he was the co-founder and CEO of Stamped, which was acquired by Yahoo back in 2012. Stein started his career at Google. In a short period of time, he managed to work for Google, Facebook and Yahoo, and he also founded his own startup. Quite an impressive resume.

And if you want to hear what it feels like to work for Instagram at a pivotal moment, you should come to Disrupt Berlin. The conference will take place on November 29-30 and you can buy your ticket right now.

In addition to fireside chats and panels, like this one, new startups will participate in the Startup Battlefield Europe to win the highly coveted Battlefield cup.

Robby Stein

Product Director, Instagram

Robby Stein is Product Director at Instagram, where he leads the consumer product team for sharing, which includes Stories, Feed, Live and Direct Messaging. Previously he was the Co-Founder and CEO of Stamped, which was acquired by Yahoo in 2012. At Yahoo, Robby led mobile video products focused around recommended content. He started his career at Google, where he worked to bring new features to market for Gmail and Ad Exchange. He has been recognized on the Forbes 30 under 30 and graduated summa cum laude from Northwestern University.

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Snapchat loses 2M more users, shares sink to new low despite business growth

Snapchat continued to shrink in Q3 2018 but its business is steadily improving. Snapchat’s daily active user count dropped again, this time by 1 percent to 186 million, down from 188M and a negative 1.5 percent growth rate in Q2. User count is still up 5 percent year-over-year, though. Snapchat earned $298 million in revenue with an EPS loss of $0.12, beating Wall Street’s expectations of $283 million in revenue and EPS loss of $0.14, plus a loss of a half a million users.

Snap entered earnings with a $6.99 share price, close to its $6.46 all-time low and way down from its $24 IPO opening price. Snap lost $325 million this quarter compared to $353 million in Q2, so it’s making some progress with its cost cutting. That briefly emboldened Wall Street, which pushed the share price up 8.3 percent to around $7.57 right after earnings were announced.

But then Snap’s share price came crashing down to -9.3 percent to $6.31 in after-hours trading. The stock had been so heavily shorted by investors that it only needed modest growth in its business for shares to perk up, but the fear that Snap might shrink into nothing has investors weary. Projections that Snap will lose users again next quarter further scared off investors.

Worringly, Snapchat’s average revenue per user dropped 12.5 percent in the developing world this quarter. But strong gains in the US and Europe markets grew global ARPU by 14 percent. Snap projects $355 million to $380 million in holiday Q4 revenue, in line with analyst estimates.

In his prepared remarks, CEO Evan Spiegel admitted that “While we have incredible reach among our core demographic of 13- to 34-year-olds in the US and Europe, there are billions of people worldwide who do not yet use Snapchat.” He explained that the 2 million user loss was mostly on Android where Snapchat doesn’t run as well as on iOS. Noticibly absent was an update on monthly active users in the US and Canada. Snap said that was 100 million monthly users last quarter, probably in an effort to distract from the daily user shrinkage. Not updating that stat again this time may mean it shrank too.

Spiegel had said in a memo that his stretch goal was break-even this year and full-year profitability in 2019. But CFO Tim Stone said that “Looking forward to 2019, our internal stretch output goal will be an acceleration of revenue growth and full year free cash flow and profitability. Bear in mind that an internal stretch goal is not a forecast, and it’s not guidance.”

During the call, Spiegel responded to questions about the Android overhaul’s schedule saying, “Quality takes time. We’re going wait until we get it right”. But analysts piled on with inquiries about how Snap would turn things around in 2019. Spiegel said that expanding beyond the 13 to 34-year-old age group in the US and Europe, plus scoring more users in the developing world via the improved Android app. He admitted Snaps created per day had dropped from 3.5 billion to 3 billion per day, but tried to reassure investors by saying over 60% of our users are still creating snaps every day.

Now down to $1.4 billion in cash and securities, Snap will need to start reaching more of those international users or improving monetization of those it still has to keep afloat without outside capital.

An Uphill Battle

Q3 saw Snapchat’s launch its first in-house augmented reality Snappable games, while plans for an third-party gaming platform leak.  The Snappable Tic-Tac-Toe game saw 80 million unique users, suggesting gaming could be the right direction for Snap to move towards.

It launched Lens Explorer to draw more attention to developer and creator-built augmented reality experiences, plus its Storyteller program to connect social media stars to brands to earn sponsorship money. It also shut down its Venmo-like Snapcash feature. But the biggest news came from its Q2 earnings report where it announced it’d lost 3 million users. That scored it a short-lived stock price pop, but competition and user shrinkage has pushed Snap’s shares to new lows.

Snapchat is depending on the Project Mushroom engineering overhaul of its Android app to speed up performance, and thereby accelerate user growth and retention. Snap neglected the developing world’s Android market for years as it focused on iPhone-toting US teens. Given Snapchat is all about quick videos, slow load times made it nearly unusable, especially in markets with slower network connections and older phones.

Looking at the competitive landscape, WhatsApp’s Snapchat Stories clone Status has grown to 450 million daily users while Instagram Stories has reached 400 million dailies — much of that coming in the developing world, thereby blocking Snap’s growth abroad as I predicted when Insta Stories launched.. Snap Map hasn’t become ubiquitous, Snap’s Original Shows still aren’t premium enough to drag in tons of new users, Discover is a clickbait-overloaded mess, and Instagram has already copied the best parts of its ephemeral messaging. Snap could be vulnerable in the developing world if WhatsApp similarly copies its disappearing chats.

At this rate, Snap will run out of money before it’s projected to become profitable in 2020 or 2021. That means the company will likely need to sell new shares in exchange for outside investment or get acquired to survive.

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