evan spiegel, the 24-year-old ceo is meeting with media executives. you're talking about a potential platform with connected verticals. stuart: 24 years old, evan spiegel. >> 24. stuart: do you know how much he owns of snapchat? >> a good chunk of it. he's based in l.a. if you have the silicon beach phenomenon expanding as well, l.a. is a booming place for tech. snapchat leading the way there. stuart: it employs 35 people. >> 35 lucky people if the valuation goes up and they get acquired. stuart: if the valuation goes up, it's worth 10 billion. you want more? >> i don't want anything, stuart. stuart: you have whatsapp, 19 billion. uber 18 billion. snapchat 10 billion and rising. i could make the case that is an app bubble. very similar to the dot com bubble of the 1990s. tell me i'm wrong. >> i'm not here to talk valuation, just like jolene. it's notable this is one of two legs of the economy driving us forward giving us the 2% growth. it's silicon valley and the innovation going on there and the innovation in the energy industry. i'm thrilled to see

capitalists are all set to attend tech entrepreneurs like elon musk travis kalanick from goober and evan spiegel from snap chat will all be there so will brian roberts chief executive of comcast and arianna huffington will be there too so all the top names intact banking and business will basically be there figuring out what they'll be plotting against top since it's so high. but according to industry analyst jeff kagan who spoke to fox business the camp is google trying to stir the pot sure they'll have a formal program with speakers on panels and q.a. sessions but it's really about what happens after the session during cocktail hours and both ride those who were invited were encouraged to bring their families too so it's less about the plotting sessions and more about networking getting to feel more like one big family you know legs one big illuminati family that rules the world i'm not pro illuminati here so anytime i hear about a summit like this i would naturally averse to it but i will say this if there's any illuminati summit to get behind it be google the camp why because notably missing

here's the ceo evan spiegel with us last year. >> we're not making money right now, but fortunate toave a role model in ten cent. huge build in china. we've seen they've been able to do that without relying on brand advertising. that's exciting for us. in the near term look at transactions and further down the road, afdvertising as well. >> and app square, getting money from singapore among other governments. valuing square at $6 billion. speaking of valuation, janney downgrades to neutral believing the social network's strong performance to date will face head winds next year. trading lower. one of the worst on the s&p in a relatively thin tape. roger, where's your head on valuations overall? more cautious i know on the market because of geopolitics. but what does this all say to you? >> well, it's almost as though the venture community is partying like it's 1999 all over again. you know, it remains to be seen whether these companies actually can earn the valuations that they're getting right now. but it does feel to me a little as though there's an expectation that the largest play

. >> 24-year-old ceo evan spiegel may ask the most important question about snapchat, how is it ever money? they plan to launch snapchat discovery in november. according to "wall street journal" this would show news content and ads what comscore say are 27 million users amount dozen tv companies and networks like the newspapers like "the daily mail" are being pursued by snapchat to provide this content. imagine, that disappearing news reports. this is the first time snapchat would roll out paid content of any kind. companies like grubhub, plus celebrities and athletes are connecting with their fans through direct snap. and the stories feature on snapchat. we can talk all day how this is such a lucrative space. according to a snapchat pitch obtained by digit day, users send 700 million photos and videos each day and check account 14 types daily on average. 50% of the users are between the age of 13 and 11 years old. rival messaging apps, lime, whatsapp, we chat and asia focused or global focused messaging apps are making money by charging fees or stickers and games. this would complet

here's the ceo evan spiegel with us last year. >> we're not making money right now, but fortunate tochina. we've seen they've been able to