We break down Snap's upside earnings report and what it means for the internet advertising space, coronavirus plays, the effects of stimulus, and a lot more.

Topics Covered

2:30 minute mark: Setting the scene

7:30: Attention Costs

10:00: The Hollywood effect

14:00: Snap's international growth

18:00: The filter issue

23:00: Relative valuation

27:00: Amazon's perfect storm

30:00: Other advertisers' prospects

33:00: The demographic questions

37:00: Stimulus effects

53:00: Shifting spending

59:00: Differing audiences

1:01:00: Twitter digression

1:07:00: How to interpret this earnings season

1:12:00: The Tiktok threat

1:17:00: Recovery risks

1:24:00: Second level effects