I believe that Snapchat will be a thing of the past in two years personally but a lot of people really like it. Instagram makes a lot more sense to me personally and I do think it is interesting that Facebook paid a billion for it. I would say that was overpriced because it had no revenue at the time but in a way you could say they bought the brand and the current userbase and didn't want to try to recreate that.

But you are right..... these things can be obsolete real quick if you don't move fast.