[bfstein]

A company is worth the percentage it captures of the value it creates. You alluded to it in your comment--Snap has a much lower headcount and an order of magnitude less operating costs, so if anything it kind of makes sense that they'd be valued at a relative premium.

Also, you may not like Snapchat, but to say it deserves to die when it both a) employs real people and b) clearly serves a market need is such a terrible thing to wish for.

[photogrammetry]

I like Snapchat; it's a great service. However, if they keep introducing more ads while demanding ridiculous valuations, my generation will stop using it.

It would be great for Snapchat and Twitter to be turned into nonprofits like Wikipedia.