guys, gals, ladies and gentlemen. The valuation is purely greed. A raw human emotion not governed my logic or common sense. There's no financial model that will

guys, gals, ladies and gentlemen. The valuation is purely greed. A raw human emotion not governed my logic or common sense. There's no financial model that will be able to justify Snapchat at $3bln. So stop using logic to justify and/or invalidate viability of the business. People are greedy, especially VCs. they inflate the valuation since you have Facebook ($114bln market cap) and other big Asian investors willing to pony up.