Snapchat CEO Evan Spiegel, whose teen smartphone sensation was recently valued at $10 billion, spoke at Vanity Fair's New Establishment Summit yesterday. The 24-year-old wore a $220 sweatshirt from Acne Studios that said "You First." He cooly deflected his frat boy rep. He brushed off the haters. It was a chill sitch.

Here is Spiegel and his sweatshirt schmoozing with Vice brand ambassador Shane Smith (the tech industry's new favorite muck-respecter) and George Lucas.

On stage in 2012, Mark Zuckerberg infamously sweated through his worn-in hoodie when asked about Facebook violating users' privacy.

But Siegel, who ignored privacy loopholes so large the FTC had to get involved, who shafted his best friend and talked about women like they exist to sexually serve his fraternity, was not fazed, reports Recode:

"I work for a team who believe you can be an idiot frat boy and also become someone more thoughtful and considerate," said Spiegel . . .

Not that the billionaires care what you think:

"I think Mike has a pretty unique history of doing things that aren't popular," said Spiegel. "He's really been a role model."

Bloomberg, who wore a blue suit and Tiffany-blue tie, said he has learned to handle negative press. "Just know that in the end you're gonna be fine and they're not," Bloomberg said, referring to reporters. "It's drivel. Nobody remembers."

Out with the faux-humble hoodie and gym shoes, in with casual crew-neck and skinny jeans.

And why shouldn't Spiegel be confident? Just look at Vanity Fair's agenda. Look at Vanity Fair holding a tech conference! The brochure promised "unexpected pairings" of people from Silicon Valley and the rest of world, but it's clear who was in control.

Peter Thiel is presented as a genius capable of rewiring the human mind.

Meanwhile, Judd Apatow gets to talk about making a few thousand in Hollywood, the joke being that he'll never be as rich as them.

At the cocktail party at the Ferry Building later yesterday evening, the power centers comfortably co-mingled.

Vanity Fair was courting Silicon Valley, but the vibe was so L.A.

To contact the author of this post, please email

[All images via Getty]