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That's done on purpose, to avoid what happened to Facebook: swarmed by old people, and then deemed uncool. Snapchat is teen territory.

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Surely their advertising target value is next to nothing, what with no income

If personal income mattered, then Saturday morning cartoons would never have been a thing. (they can still pester their parents)

I guess that gets rid of the generation that wants to install new social media apps but doesn't know how to google for things.

.... I don't know that thats really a generation.

It's not like there's a big divide in generations... you go to a high school, there's people in an age range, and you can very well teach someone who is one year younger than you how to use something. Rinse and repeat.

I don’t believe that is the common usage of the term generation.

A generation typically involves a period of time at least as long as the organism takes to reach sexual reproductive age.

You are right, I completely misunderstood what he meant.

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