Message

from Mr. KG:

8th Grade Salary,

I am so incredibly excited for our fieldtrip! Each of you have worked so hard and
displayed immense amounts of leadership over the course of the year. This fieldtrip is
an opportunity for you to expand your horizons. You will see future career options
that are entirely available for you with your continued hard work and standout
character. This is the packet we will be using for our fieldtrip. Please follow along as
some of the readings will apply to you (and others will not) depending on your
participation in our first information session. You must complete your required
readings and tasks to be eligible for our fieldtrip.

Our first stop on the our fieldtrip is going to be at a bank! You will either be visiting JP
Morgan or Morgan Stanley depending on your group. These are two of the largest
banks in the world. The investors and bankers at these companies have incredible
business expertise and knowledge of the financial markets. During this visit we will sit
down with a panelist who happen to be Snapchat experts. Yes, we are talking about
Snapchat (as well as anything else you are curious about!). We are talking about
Snapchat because this a company that recently went public. We can learn about
banking through Snapchat, which will be fun and informative!

Next, we will take a tour of the trading floor at the bank. On this portion of the trip,
you will see bankers buying and selling stocks for various clients in real time! This is
an extremely competitive and fast-paced job. These individuals are highly skilled,
remain calm under pressure and are in charge of making big decisions, quickly! It will
be very cool to see. Gather questions as you will have the opportunity to inquire later
today at C&C Day!

Lastly, we will visit an exhibit for investors by a company called Corning. You will learn
more about Corning later in this packet but they do very interesting work. IF you
watch TV on an LCD screen, have an iPhone (or any smartphone!), are interested in
space, fascinated by future technology (like self-driving cars!), Corning is a company
you should know about!

Stay curious and most importantly, have fun!

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 Bank x Corning Exhibit Salary Trip
Student Packet
Group A Group B

Chaperone: Mr. KG Chaperone: Mr. Croncota and Ms. Lugent

7:45-8:15 Pre-work in Auditorium (complete Pre-work in Auditorium (complete
gratitude cards and quick purpose gratitude cards and quick purpose
setting for the day) setting for the day)
8:15-9:00 Leave school and take bus to 48th and Leave school and take bus to 48th and 6th
6th
Walk to JP Morgan @ 277 Park Ave
Walk to Morgan Stanley @1585
Broadway
9:00-9:10 Arrival and Check-in Arrival and Check-in
9:10-9:40 Panel Discussion led by bankers about Panel Discussion led by bankers about
Snapchat and banking. Snapchat and banking.

Notes: Notes:

-Students have background knowledge -Students have background knowledge

on basic information regarding stocks, on basic information regarding stocks,
public companies and investing public companies and investing

-Students learned about Snapchat. They -Students learned about Snapchat. They
are away that it is a public company, are away that it is a public company,
ways that it makes money, and ways that it makes money, and
competition it faces. competition it faces.

-Students can use packet as a guide -Students can use packet as a guide
9:40-10:10 Tour of bank and trading floor Tour of bank and trading floor

10:10-10:20 Head back to buses to drive to Corning Head back to buses to drive to Corning
Exhibit Exhibit
10:20-11:15 Travel to Chelsea Piers Travel to Chelsea Piers
11:15-12:00 Tour exhibit and explore new Tour exhibit and explore new technology
technology
12:00-12:30 Bus back up to Infinity w/ Lunch 2
 This reading is required for anyone who missed our information
session on Snapchat. Please use your NF thinking job to get the
most out of the reading.

WHAT IS THE STOCK EXCHANGE AND AN IPO?

When a private company, or a company owned and run

by an individual, wants to raise more money it can
decide to become a public company. Companies decide
to do this to have more money on hand to research
better ways to make things, create new products, hire
more employees or improve a current building or system.
Throughout this explanation, lets use Wally’s Deli as an
example. Lets say Wally’s Deli wanted to research the
best sandwich of all time AND open up an arcade in the
back of the shop. To do this, Wally’s would need to have
a lot of money on hand because conducting research,
paying for construction and buying arcade machines are
very expensive. These would be reasons for a private
company (Wally’s) to go public. When companies first set
a price at which investors will pay for their stock, it is
called an Initial Public Offering (IPO)

When investor buy stocks of a company, they become partial owners of that
company. The stock’s price will rise or fall based on what investors think it is worth.

When buying stocks, you want to look for a company that is going to grow. That
means the company is going to increase its number of users, customer base or
profits. It is going to add more new features that will make it more popular and
make more money! Now we are going to shift gears and begin thinking about
Snapchat. Snapchat is a company that recently went public. At the end of your
reading, you will idnetify questions you have about stocks, trading, Snapchat, IPOs,
etc… You will also determine whether you think Snapchat is a good investment for
the future J

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 This reading is required for anyone who missed our information
session on Snapchat. Please use your NF thinking job to get the
most out of the reading.
Snap’s IPO will be the largest in years

WHEN Snapchat first became popular in 2013, many thought the messaging app would
disappear almost as quickly as its vanishing messages. Instead, it has become one of the most
intriguing internet firms to emerge in years. When Snap, Snapchat’s parent company, goes public
at an expected worth of $20bn-25bn—the IPO is expected in March.

Snapchat has captivated youngsters in the West with its quickly disappearing content and playful
features. It appears to have connected with youth more successfully than older rivals such as
Facebook (or its messaging service, WhatsApp). Users share digitally enhanced photos and
videos of themselves vomiting rainbows and morphing their faces into animal masks. Around
41% of Americans aged 18 to 34 use the ephemeral messaging service every day, and 150m
people globally spend time on it every day.

Older grown-ups should pay attention too. Snapchat is experimenting with new technologies,
such as augmented reality (AR) and wearable devices. A large share of people who have used AR
will have experienced it on Snapchat, where users can overlay computer-generated images on
photos and videos (see article).

The firm’s IPO is expected to describe not an internet or communications company but a
“camera company”. Snapchat has prospered from access to the camera on every smartphone,
and now it wants to sell hardware (like smart glasses) as well. Its new sunglasses, called
Spectacles, sell for $130 and enable users to record video from their exact line of sight. They
have caught the attention of analysts, who are impressed by the glasses’ ambition, functionality
and clean design.

How well it fares as a public company will inform us whether it will compete with huge
companies like Facebook and Google. Snapchat has a different outlook. Facebook creates
permanent records of users’ lives; Snapchat offers impermanence. On most social-media sites,
people post about their achievements to a huge circle of acquaintances; Snapchat’s users share
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images of themselves looking silly with smaller groups of friends.
 This reading is required for anyone who missed our information
session on Snapchat. Please use your NF thinking job to get the
most out of the reading.
Rainbows, streaks, and unicorn faces

Mr Spiegel, the founder, has proven himself to be creative in devising new features for Snapchat
ideas. At first it was a one-to-one messaging function for people to send disappearing “snaps” to
one another. Three years ago Mr Spiegel launched “stories”, where people can string together
images and videos and share them with all their friends at once. In 2015 it launched “Discover”,
where professional publishers offer a selection of disappearing articles and videos tailored to
young people.

Snapchat has innovated in other ways, too. It shows users how many snaps they have sent and
received since joining, and they try to keep this score high. It invented “streaks” that keep track of
how many consecutive days friends have sent messages back and forth. When Braden Allen, a 16-
year-old in Dallas whose tally of sent and received snaps stands at around 170,000, needed a
break from Snapchat to study, he gave his login information to a friend to keep sending on his
behalf.

Lenses are another unique feature. When people take selfies, they can choose to alter their
appearance, becoming an animal, switching faces with a friend or doing other fantastical things
with the app’s facial-recognition technology. Snapchat has quietly become the most-used
augmented reality product in the world, says Ben Thompson of Stratechery, a research firm.
The company has started to allow advertising in between
users’ stories and in the midst of publishers’ articles on
Discover. Brands can also buy sponsored lenses. For example,
Taco Bell, a fast-food chain, paid for a lens that allowed users
to change their faces into tacos. These promotions can be
expensive, at around $550,000-800,000 for a lens that is
available across America for a day, and can take some months
to prepare. Snap insists on keeping some creative control, and
can veto projects it thinks look too much like basic advertising.
That has irked some brands in the past.

Snapchat is nowhere near earning the sort of ad revenues

(money) that Google and Facebook bring in. One of the world’s
largest advertising agencies spent $60m on Snapchat in 2016,
compared with $1bn on Facebook. The same agency expects to
spend $170m on Snapchat this year. Snap could have around
$1bn of revenue (money) in 2017, three times its total sales in
2016.
Yet there are questions over how large Snapchat’s user base can become, and whether it can live up to
its hype on the stock market. The app has yet to establish that it has strong appeal for older users, for
example. 5
 This reading is required for anyone who missed our information
session on Snapchat. Please use your NF thinking job to get the
most out of the reading.

Mr. Spiegel so far focused on Western markets, whose users are most valuable to advertisers, in
contrast to Facebook and Twitter, which emphasise their global reach. He is expected to point to
high user engagement with Snapchat, rather than relentless user growth, as the gauge investors
should watch. This will require a shift in thinking for stockmarket investors, who have been trained
by Facebook, Twitter, LinkedIn and several other internet firms to demand fast-growing audiences.

Snap’s profit margins in its various business lines may also disappoint: they are unlikely to be as
generous as those of Google and Facebook, which both fulfil a lot of their ad orders using automated
programmes. Because its ads tend more often to be individually designed, it relies on a large, human
salesforce. Selling also takes more time, as it does in television.

The competition against Facebook and Google (which owns YouTube, an online-video site, against
which Snapchat will directly compete for ad dollars) is unlikely to let up. Facebook tried to buy
Snapchat for $3bn in 2013, and has since then copied many of its popular features. Last summer
Instagram, which is owned by Facebook, launched its own “stories” feature; its parent company is
now testing the idea of rolling out this feature on its own social network. Usage of Snapchat stories
has declined significantly since Instagram stories began. That could shake the faith of some
Snapolytes, who believed that Snapchat had sufficient allure to keep its young users away from
Facebook’s properties and those of other internet firms.

The public offering stands as evidence that Snap wants to stay independent. But Facebook or Google
could still buy it.

If Snap wants to survive as an independent firm, he may need to buy some smaller companies, as
Facebook did by buying Instagram and WhatsApp. One opportunity may be visual search. Snapchat’s
users are using their cameras to capture the world around them. When they point their smartphones
at objects, they could be served with advertising. Only Mr Spiegel knows the plan. But in the highly
concentrated internet ecosystem, companies increasingly must eat or risk being eaten. The coming
years will show whether Snap is predator or prey.

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 EVERYONE, please complete the task below
Directions: Below are questions we identified and answered in our informational session. Please read
through ALL of the questions below. Star any questions that you are curious to learn more about and
would like to ask a banker. Additionally, please jot down any other thoughts or questions in the box
below to be prepared for our visit! Note: You do not need to actually answer these questions J.

1. What future products might Snapchat include?

2. What features have been developed that shows Snapchats creativity to increase its user base
(ie streaks)

3. What are the ways that Snapchat makes money?

4. Will Snapchats competitors continue to hurt Snapchat? Will Snapchat be able to effectively
compete?

5. What is the future of Snapchat? What potential features or products might it offer?

1. Do you think Snapchat will effectively become a “camera company” and sell cameras?

2. Do you foresee Snapchat getting involved in Virtual Reality?

3. Why is the Instagram story a problem for Snapchat? Do you foresee more people using
Instagram story or Snap Story more in the future?

4. Do you suggest buying Snapchat stock? Why or why not?

Please jot down any remaining questions that you have about Snapchat, public companies,
stocks, the NY Stock Exchange or choosing a company to invest in:

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EVERYONE, please complete the readings below to be prepared
for our second stop: The Corning Investors Exhibit

On this stop, we will see the amazing innovations created by a company called
Corning. Because this is a meeting for investors, Corning is showcasing their newest
and most incredible products gain more interest from investors! This directly relates
to what we will see at JP Morgan or Morgan Stanley Banks. Continue reading below
to learn more about Corning and their contributions to science, breakthroughs and
humanity.

Corning Incorporated is a manufacturing company that makes class, ceramics, and

related materials. You might be thinking, so what.. How does that connect to me!?
Cornings products (like their glass) are used to make LCD Screens for TVs,
smartphones, car windshields, and windows for space ships! They are very involved
in the creation of autonomous cars (cars that drive themselves!)

Please read the article below. Use your NF thinking job to get the most out of your
reading.

-----------------------------------------------------------------------------------------
Google achieves milestone in driverless car technology
development
By Ashley Halsey III and Michael Laris, Washington Post
12.19.16
A man who is blind has
successfully traveled around
Austin, Texas, by himself in a car
without a steering wheel or floor
pedals, Google announced on
Tuesday.

After years of testing by Google's

engineers and employees, the
Steve Mahan, who is blind, stands by the Waymo driverless car
company said it had reached a
during a Google event, Tuesday, Dec. 13, 2016, in San Francisco. milestone in developing a
The self-driving car project that Google started seven years ago driverless car.
has grown into a company called Waymo. The new identity
announced Tuesday marks another step in an effort to
revolutionize the way people get around. 8
 EVERYONE, please complete the readings below. Use your NF
Thinking Job!

"We've had almost driverless technology for a decade," said Google engineer Nathaniel Fairfield.
"It's the hard parts of driving that really take the time and the effort to do right.“

Google Spent Six Months Reviewing Performance

Steve Mahan, who is legally blind, was the first non-Google employee to ride alone in the gum-
dropped-shaped driverless car.

"It is like driving with a very good driver," Mahan said. "If you close your eyes when you're riding
with somebody you get a sense of whether this is a good driver, or whether they're not. These
self-driving cars drive like a very good driver."
Google says it has driven more than 2 million miles on public roads to test its vehicles.

"In early 2015, we began to see some signs that we were getting close," Fairfield said. He added
that, in time, the cars were able to drive on their own longer without a human taking over.

Google spent six months reviewing the vehicle's performance before Mahan was allowed to set
out alone.

Mahan Says He Gained A Sense Of Independence

Mahan said, "I had the greatest time driving around a neighborhood in Austin, Texas. It was so
much fun, being aware that the vehicle was navigating intersections, and I was in good hands,
perfectly safe."

The car Mahan rode in had a back up computer. It also had multiple systems controlling it, said
Dmitri Dolgov, who heads Google's self-driving effort.

"This is a hope of independence," Mahan said. He added that there are millions of people who are
also blind or have a disability that prevents them from driving. Or sometimes people are too old
to drive safely.

"These cars will change the life prospects of people such as myself. I want very much to become a
member of the driving public again.“

Self-Driving Car Technology Expanding

Google also announced Tuesday that it was spinning off its self-driving car project. It has formed a
company called Waymo. It is an independent division under Google's parent company, Alphabet.
Google was among the first technology companies to plunge into an area usually dominated by
automakers. After initial testing by its employees, the company embraced a decision to put on the
road fully driverless cars, likely without steering wheels or floor pedals.
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 EVERYONE, please complete the readings below. Use your NF
Thinking Job!

Meanwhile, other companies in the auto industry decided to introduce self-driving features little
by little.

Cars May Soon Be Able To Talk To Each Other

The Google announcement came on a day when federal regulators said they would allow
computers on board cars to communicate directly with one another.

U.S. Transportation Secretary Anthony Foxx said a communication system among vehicles will
"provide 360-degree situational awareness on the road and will help us enhance vehicle safety."
Vehicle-to-vehicle communication is considered an essential building block toward driverless
vehicles by some, but not all, of the companies working to develop them.

"If they're connected to each other, then we likely will not need signs, markings or even traffic
signals," said Jim Barbaresso, who works with transportation systems at a company called HNTB
Infrastructure Solutions.

"The infrastructure could change very dramatically. Cars could go through intersections without
hitting each other, without the need of a traffic signal. We won't need wider lane widths any
more; we can squeeze more lanes out of our existing highway footprints."
Fairfield said direct vehicle-to-vehicle communication was a benefit, but less than essential, to
putting driverless cars on the road.

"It is useful, no question," Fairfield said. "There is vehicle technology where the car is telling you
it's going to hit the brakes, or how much it's braking. That's somewhat useful, but we can
[determine] that with radars and lasers and cameras, so it's not that useful."
Where communication among vehicles would be more useful, he said, was informing a vehicle
computer of traffic jams or construction zones farther down the route on which the car is
programmed to travel.

"You might want to route around it," Fairfield said. "It's not necessary, but it's useful. It's sort of
like live updates to the max, so that all of our cars can intelligently avoid this."

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Please jot down any remaining questions that you have about self-driving cars, Corning’s
involvement, or other Corning technology

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