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Snapchat kills original content plans -- because of cost?

Snapchat may be run by the youngest billionaire, but it apparently doesn't like the price of creating content and pulled its Snap Channel off Discover. Meanwhile, Twitter fires more than 300 employees, and one employee found out in a nasty way.

Creating original content doesn't come cheap. And it seems Snapchat -- a messaging app valued at $16 billion -- can't seem to justify the cost.

In this CNET Update, learn about the death of the Snap Channel, and what the app's billionaire CEO has been up to these days. Also, Twitter cuts 8 percent of its employees, but can't seem to find the time to tell them all in person before cutting off access to e-mail. And as Snapchat and Twitter downgrade, Apple upgrades some Mac computers and accessories:

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Snapchat kills original content plans -- because of cost?