Hi, I think I give a pretty fair argument about this towards the end in comparison to broadcast.com In short, yes- Back then the bubble was based on the hype

Hi, I think I give a pretty fair argument about this towards the end in comparison to broadcast.com In short, yes- Back then the bubble was based on the hype that people were coming. The hype now is that the people are here. Again, compare the 500k (thousand, not million) users of broadcast.com (and 5.7b sale) to snapchat and it becomes less frothy. Like the stock market, valuations are set on what others are willing to pay. You may not use snapchat (I dont either) but you cannot deny the fact of its massive usage. Yes, Its unmonetized- But people are valuing it where it is because another large company is very likely to pay that much to acquire it. Valuation = how much something is worth to another buyer. Everything in this world has a fluid cost to it, so everything goes through ups and downs. But there is no static valuation, only a constant ride of ups and downs.