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Why? Because, as Chief Financial Officer David Ebersman admitted during last month's quarterly investor conference call, Facebook's teenage audience has been abandoning Mark Zuckerberg's social network in droves. In the case of Snapchat, it actually makes perfect sense that Facebook would offer this seemingly newborn company $3 billion. Snapchat's Evan Spiegel / Larry Busacca/Getty Images It's just crazy to me that these apps seem to come out of nowhere overnight, scoop up a few million users and boom! They're worth hundreds of millions, or even billions of dollars. I'm extremely happy for and envious of Spiegel and the entire Spapchat team. Speaking as a 31 year old founder of a profitable tech company that is based no more than five minutes away from Snapchat's headquarters here in Los Angeles and has been operating for twice as long, let me be the first to go ahead and thank Evan Spiegel for making me feel like completely useless pile of garbage today.

A 10 figure payday for an app that is mostly famous for helping teenagers sext each other.

A 23 year old who created an app that makes no money and has existed for a little more than two years, just casually declined $3,000,000,000 IN CASH. Yesterday, Evan Spiegel, the 23 year old founder and CEO of disappearing photo app Snapchat, turned down a $3 billion cash buyout offer from Facebook.