Good points. I think there's a good chance that there will be a changing of the guard at some point. But social media within a given sphere is a winner take al

Good points. I think there's a good chance that there will be a changing of the guard at some point. But social media within a given sphere is a winner take all game. Then the winner in the biggest sphere will try and buy all adjacent social media companies (see Facebook, Instagram, and WhatsApp). The only hope I see is either 1) somebody has a large enough ego to think they can take on the dominant player (Snapchat/Evan Spiegel), or 2) the government gets some sense and decides that it's not a good idea to let the dominant player buy adjacent companies. So maybe Snapchat wins eventually as their demographic grows older. But then we're in the same position we're in now, just with a different company on top. At least, that's how things seem like they will play out to me.