As Snap (which describes itself as a camera company) enters the public market, Time’s excellent Joel Stein provides an interesting look at what makes Snapchat so compelling to young people (many of whom use it almost obsessively). “Snapchat is aware that most of our conversations are stupid. But we want to keep our dumb conversations private. When Snapchat first launched, adults assumed it was merely a safe way for teens to send nude pictures, because adults are pervs. But what Spiegel understood is that teens wanted a safe way to express themselves.”

+ Today’s IPO went well, with the company hitting a marketcap of $34 billion.

+ “As the five-year-old company enters the public market, the enthusiasm is palpable. So is the fear.” Nick Bilton: Is Snap The Next Facebook — or Twitter?