Snap is happy for now to let Facebook copy its features

Snap’s earnings are out late this evening, and investors are already anticipating bad news, thanks to a “never-ending doomsday narrative around Facebook’s perceived impact on Snapchat,” according to analyst Brian White of Drexel Hamilton.

And it’s not just a narrative —it’s a fact that Facebook has been expertly copying Snapchat’s most popular features, just when the newly public company needs to be proving it can grow.

The only thing Snap can do, according to several investors, is to innovate faster.