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>So "how do you value"...

The same way you value anything. AR might be "new", but "new" things aren't new; they come out all the time, forever.

>It's hard to look at an early click-wheel, monochrome screen iPod and see a mobile phone ecosystem worth trillions of dollars

Which is why it would be incredibly naive to, in any way, predict Snapchat to have that sort of success, because it is so incredibly rare. It's like playing the lottery: yes there's a winner, but the odds of any individual company becoming "best ever" are incredibly slim. I have the same sentiment toward TSLA. I invest accordingly.

I think we are saying the same thing, I just lean cynical.



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