This point was addressed on HN by user ChuckMcM in November 2013, right after Spiegel rejected Zuckerberg's buyout attempt: > The focus here is on the tech and

This point was addressed on HN by user ChuckMcM in November 2013, right after Spiegel rejected Zuckerberg's buyout attempt: > The focus here is on the tech and not the market. A pet rock was 'worthless' (the rock was just a rock) but the connection with a generation was valuable. So often in our business we look at something that we feel like we could build (or could be easily built) and a valuation, and focus on those two things. The parts we don't see we give little value to (350M snaps? Seriously? That is a boat load of engagement). Making anything that get 350M 13-23 yr olds engaged is a pretty huge deal. That is what is valuable with Snapchat, not the tech. https://news.ycombinator.com/item?id=6671371 https://news.ycombinator.com/item?id=6671371