Zynga bought Draw Something with said $200 million
just a simple app, now $200 mil in the pocket. i love startups...
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http://online.wsj.com/article/BT-CO-20120321-713763.html
holy smokes the apps been download 35 MILLION times in 6 weeks
As if I needed even more of a reason to pursue entrepreneurship. Stuff like this makes me think the 9-5, or 9-2am in banking, is just not worth it. Why slave away for a few hundred K a year when the real opportunity is building/designing something with your own 2 hands and being your own boss?
I think I am having a quarter life crisis but I'm really starting to wonder if the rat race is worth giving up your soul for. Do I want to be wealthy? Yes. Is it worth giving up my 20s, 30s, and possibly 40s? I'm starting to think maybe not so much.
Right now I am a slave to my paycheck, it allows me to enjoy my hobbies on the weekend. But I want to enjoy life more then 2 days per week.
entrepreneurship takes up 10x more energy, stress, and time than banking and chances are you wont even make a penny.
My most fulfilling jobs have been at small shops working in a tight knit community where the "boss" is just a stones throw away. Whether it be finance related or something else entirely, I think doing it on your own is the best way to financial independence. I could be completely wrong, but I am ready to take that chance.
This bubble is getting out of hand. If your product relies on being the "cool new thing" then it is NOT in any way a sustainable business model. Nothing to see here, an over-inflated company spent $200MM to basically buy some Beanie Babies. Give it a little more time for all these glamour stocks to run up and eventually shareholders will realize all they really own is a plot of land in a boomtown. It'll all be gone when the fad dies down. I'd say the same for Facebook but that one's gonna take a whole lot longer to pan out.
The question is simple: how many people are still out there playing Farmville? Drug Wars? The guys at DrawSomething should be pretty damn pleased with themselves, and the guys at Zynga should be ashamed they didn't think of it earlier, and even more ashamed at how much it cost them.
This x 100
This is certainly getting bubblicious.
For anyone thinking about going the tech start-up route, you'd better do it right now and cash out as quickly as possible.
Once you've got the money in the bank you can think about creating something that actually improves the world. At this point I'd just be trying to create the next shiny thing that captures the ignorant masses' attention for a moment.
I feel like if you don't already have a product you're too late.
Exactly, Don't be fooled by the headlines of these lucrative cash transactions turning founders into multi millionaires. Firstly, the success rate is
It upsets me that the general consensus on these "start-ups" is that they are entrepreneurial ventures that "really add some value" when all you're really doing is exactly what Edmundo said... creating a fad product that captures the attention of the ignorant masses for a minute or two. The people that actually add value are developing new fertilizers to increase harvest yields and finding ways to more effectively drill for oil or some shit like that. You're not a savior because you make a little game that's already been made but put it on a handheld device.
Facebook didn't even do anything that spectacular, other than getting random "hey how are you i was the hot chick in high school but im ugly now but lets fuck because i need a husband soon" or "yo dude can u get me a job" inbox messages from kids i went to high school with, it didn't increase how often I talk to the people I actually want to talk to. All it did was let everyone post pictures and validate how great their lives are / see how awful their lives are. Still the most "revolutionary" of these tech start-ups as far as the public is concerned. Just one anti-tech man's opinion though.
This is all true, but go easy on the kids. The average poster here is between the ages of 20 and 22 and spends most of their time struggling to get laid with the ugly girls at target schools, so forget about expectations of any worldly knowledge of the business world. But yeah, you're completely right. The worst thing about people making dumbass posts is that they are kind who will chase the current fad and dedicate themselves to it right before it implodes.
To those of you playing from home, here's the deal: If you're trying to go long riding the current wave, you're going to miss every time because that wave will break before you even have a chance to get on your board. You have to be in place BEFORE the wave starts to crest. If everyone is talking about something, it's too late, look for the next wave. The tech bubble will pop and then it will be something else. It's going to be a while before finance swings around again, but if you love finance, it doesn't really matter -- use the time to get ready for the next wave. If you hate finance, you should be doing something else anyway. Try to think for yourself (if possible).
The quickest way to financial independence is to cash in or create your own fad. The guy that made Silly Bands, the guy that made the iPad book binding case (http://www.dodocase.com/), the guy that made the iPhone bottle opener (http://shop.ibottleopener.com/). The way to get there (in my opinion) is to create some novel trinket that appeases to the masses. All 3 of these guys are well on their way to becoming millionaires if they are not there already. I have literally seen dozens of these new "entrepreneurs." They all have the same idea. Novel product, some cheap but professional looking WordPress website, sell like hotcakes. All probably making more money then most on this website.
Most Americans don't know what the hell "value creation" even means. But they sure as hell know how to show off their iPhone bottle opener to their friends, who will then buy their own, show it off to their friends, who will then buy their own, etc. Maybe the entrepreneurs will spend their coin to do something beneficial to humanity afterwards, but that is irrelevant to the discussion at hand.
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