In a clear sign that they are going after Snapchat, Facebook announced that they are opening up their API to allow app developers access to the camera in the Facebook app. They will also add support for filters, overlays, and other features that are similar to Snapchat, luring users away.
Leo says that Facebook is going after augmented reality in an effort to stay on top of the virtual genre. Leo says that competition is good. It'll be interesting to see how Snapchat and other companies respond.