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It seems like Facebook had a relatively clear path with already having the news feed. Keeping users on a single page absorbing information with ads intermingled unobtrusively, but with Snapchat I'm in any of three views for just a few moments before I close the app again; all that to say, I just don't think it's a very good comparison.

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That's the point I was making. As it is now, it's hard to see where they would fit in advertising or whatever. It's better to look at the product as a foundation. Having tens of millions of users using your product multiple times a day is a good starting place to build on.

So apparently a mere starting place, which may or may not yield any actual profit (in an unspecified amount) via an unspecified method at an unspecified date in the future, is worth $10,000,000,000, about four times as much as Google's IPO, keeping in mind that Google had a real profitable business plan at the time?

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