Is Snap the peak of the social media hill?

After the company's Q2 earnings, it actually looks like we've reached the end of the social media behemoth age. Snapchat's active user base is shrinking, even as it pulls out all the stops to grow it, with a new design (which didn't go well), and other new features. Snap's Q2 results were actually strong, at least in terms of cash, which makes this all the more strange. It pulled in 44 percent more cash than last year's same quarter, and narrowed its losses by 22 percent, but daily active users pulled it down: the company lost three million users this quarter.  Yeah, in one quarter. It seems that Snap faces many of the same woes that Facebook is right now, and the same problems Twitter came up against in recent years: the new users simply aren't there, and we're unlikely to see billion people-sized networks pop up again.  Perhaps this isn't such a bad thing –Snap's Q2 earnings ↗