Despite all the hype around Snapchat’s upcoming IPO, many millennials turn to Instagram to discover new brands and content.

“Snapchat’s big, but now with Instagram Stories, it’s fallen away….If you’re promoting on Snapchat, you have to put the link in and then that person has to remember the link. It makes it too complicated,” influencer Cheralee Lyle says in this video from L2’s Consumer Behavior clinic last week.

Scott Galloway’s prediction that Snapchat will decline in value next year doesn’t sound so farfetched.

Watch the video above for more insights into the millennial mindset.