Lenny’s Podcast95 min
Snapchat CEO: Why distribution has become the most important moat
Evan Spiegel · Apr 26, 2026
Key learnings
- Distribution is often underweighted compared with product-market fit; founders should plan how they will reach users, not just…
- Software features are easy to copy, so durable advantages come from ecosystems, creator/developer platforms, and…
- Connecting people to their closest relationships, rather than maximizing total friends, can be the more valuable network effect…