Right, I know how you feel. This is how the Digital Sky Technologies LP's must feel about them investing in FB at 15B...good for you that you weren't part of that fund - they are definitely not serious VC's.
This is simply no outrageous in any way and it was likely a very competed investment - I do think that Snapchat can achieve a value much larger than $10B or even $20B. Outrageous I would say is $1 trillion.
I said nothing of the sort. I said that Snapchat is not worth $10 billion and likely never will be. For reference, my exact words were:
"I just can't take seriously any VC valuing this company at $10 billion"