14-Year-old CEO Turned Down $30 Million Offer for His Start Up
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I always take these things with a grain of salt. In many developed countries a 14 year old is not allowed to enter into a legal contract, so how can he possibly have a company and\or make deals? Also the idea may sound good but the potential for public liability claims will be too great to make it viable. If you are at a venue there is usually a responsibility on the venue to provide first aid so would you rather see a qualified first aider with known good equipment or trust something random from a vending machine where you don't know how old the goods are or if they are still fit for purpose? I keep to buying nothing from vending machines but Diet Coke, Double Deckers and used panties.
F-ES Sitecore wrote:
In many developed countries a 14 year old is not allowed to enter into a legal contract, so how can he possibly have a company and\or make deals?
In the US, I'm pretty sure the parents would still have control of the money.
F-ES Sitecore wrote:
Also the idea may sound good but the potential for public liability claims will be too great to make it viable. If you are at a venue there is usually a responsibility on the venue to provide first aid so would you rather see a qualified first aider with known good equipment or trust something random from a vending machine where you don't know how old the goods are or if they are still fit for purpose?
Exactly. There are reasons why this may not work. Which is why I say to take the money and run and don't look back.
There are only 10 types of people in the world, those who understand binary and those who don't.
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F-ES Sitecore wrote:
In many developed countries a 14 year old is not allowed to enter into a legal contract, so how can he possibly have a company and\or make deals?
In the US, I'm pretty sure the parents would still have control of the money.
F-ES Sitecore wrote:
Also the idea may sound good but the potential for public liability claims will be too great to make it viable. If you are at a venue there is usually a responsibility on the venue to provide first aid so would you rather see a qualified first aider with known good equipment or trust something random from a vending machine where you don't know how old the goods are or if they are still fit for purpose?
Exactly. There are reasons why this may not work. Which is why I say to take the money and run and don't look back.
There are only 10 types of people in the world, those who understand binary and those who don't.
RyanDev wrote:
In the US, I'm pretty sure the parents would still have control of the money.
Personally I think in these types of stories the parents actually do everything and are responsible for everything, but they know if they claim their doe-eyed child is the one doing it they get news coverage from the "human interest" angle. There was quite a good example of a child who apparently owned multiple Ferraris. He was interviewed by various journalists etc, and of course it was all just a hoax. You'll find it on YouTube. Where kids and large amounts of money\business is involved I'm always suspicious.
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A bird in the hand is worth two in the bush.
Peter Wasser "The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts." - Bertrand Russell
Not sure about her bush, but if I remember correctly she is a bit top heavy.
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This 14-Year-old CEO Turned Down $30 Million Offer for His Start Up - Good News Network[^] Wow! If I were 14, or even today, I'd take the 30 Million, thank you very much.
There are only 10 types of people in the world, those who understand binary and those who don't.
We are all just jealous. ;P
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We are all just jealous. ;P
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Very much so. :cool:
There are only 10 types of people in the world, those who understand binary and those who don't.
At least one honest guy around. :)
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This 14-Year-old CEO Turned Down $30 Million Offer for His Start Up - Good News Network[^] Wow! If I were 14, or even today, I'd take the 30 Million, thank you very much.
There are only 10 types of people in the world, those who understand binary and those who don't.
That's a great (interesting) story. You'd think he'd have sold because as soon as you hear the idea, it becomes a commodity -- a (seemingly) easy thing to reproduce by any large company. Is the idea of a vending machine that sells first-aid kits even patentable? Not sure. I see he has already sold 100 units to (on spec) to Six-Flags and his vending machine design is very simple (which is perfect and totally necessary for his product). But it still feels like a large company will come along and "borrow" the idea.
My book, Launch Your Android App, is available at Amazon.com.
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That's a great (interesting) story. You'd think he'd have sold because as soon as you hear the idea, it becomes a commodity -- a (seemingly) easy thing to reproduce by any large company. Is the idea of a vending machine that sells first-aid kits even patentable? Not sure. I see he has already sold 100 units to (on spec) to Six-Flags and his vending machine design is very simple (which is perfect and totally necessary for his product). But it still feels like a large company will come along and "borrow" the idea.
My book, Launch Your Android App, is available at Amazon.com.
raddevus wrote:
still feels like a large company will come along and "borrow" the idea.
That's why I'd take the 30 million and run. There are many companies with resources that could beat him to market with a better product. I hope not for his sake.
There are only 10 types of people in the world, those who understand binary and those who don't.
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This 14-Year-old CEO Turned Down $30 Million Offer for His Start Up - Good News Network[^] Wow! If I were 14, or even today, I'd take the 30 Million, thank you very much.
There are only 10 types of people in the world, those who understand binary and those who don't.
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raddevus wrote:
still feels like a large company will come along and "borrow" the idea.
That's why I'd take the 30 million and run. There are many companies with resources that could beat him to market with a better product. I hope not for his sake.
There are only 10 types of people in the world, those who understand binary and those who don't.
RyanDev wrote:
That's why I'd take the 30 million and run.
:thumbsup::thumbsup::thumbsup::thumbsup: 100% agree.
My book, Launch Your Android App, is available at Amazon.com.
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This 14-Year-old CEO Turned Down $30 Million Offer for His Start Up - Good News Network[^] Wow! If I were 14, or even today, I'd take the 30 Million, thank you very much.
There are only 10 types of people in the world, those who understand binary and those who don't.
Next year, he'll discover girls, and end up with nothing.
I wanna be a eunuchs developer! Pass me a bread knife!
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Next year, he'll discover girls, and end up with nothing.
I wanna be a eunuchs developer! Pass me a bread knife!
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Mark_Wallace wrote:
Next year, he'll discover girls,
If he had taken the $30 million then girls would have discovered him now. :-\
There are only 10 types of people in the world, those who understand binary and those who don't.
An undeniable fact.
I wanna be a eunuchs developer! Pass me a bread knife!
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Not sure about her bush, but if I remember correctly she is a bit top heavy.
Oh shit, I went to google images, not something you should do at the office computer in Singapore. However I can see the attraction!
Never underestimate the power of human stupidity RAH
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We are all just jealous. ;P
I'm not sure I'd want to be 14 again!
Never underestimate the power of human stupidity RAH
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I'm not sure I'd want to be 14 again!
Never underestimate the power of human stupidity RAH
Maybe if you could carry the knowledge you have now with you. But I was more thinking of the money, though. Would be nice with a pile of cash to lean back on.
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Oh shit, I went to google images, not something you should do at the office computer in Singapore. However I can see the attraction!
Never underestimate the power of human stupidity RAH
Haha. Not a good thing to do if your girlfriend is sneaking up on you either. That kind of trouble I can live without.
