I think you all miss the point. It is not about how he spend the money (in this case an education perceived to be not worth its money by a majority of you) but what he did to save this money. You could spend it on your next start-up or get inspiration to pay off your own debt by changing your living standards.
This business was riding on the wave of Groupon like deal sites.
The start-up was not so much about running a profitable business but about capturing the funding possibilities that came up due to the popularity and profitability of Groupon and its numerous clones.
It may seem that way, but we cannot simply say that this is a fact. The founders might have some plans that would turn this market on its head. Though, at the same time, I see where this sort of behaviour comes from. Its the same reasons Dropbox clones got millions of dollars in funding, even though their product is a straight copy (and crummier).
The Blackberry is a pure communication device. Actually, it is only about communicating. Teenage girls use it, but also my professors. Lately, the technological gap between all the android generics and iphones is increasing, but easily resolvable. Increase the processor speed, the screen resolution and use a better camera. Also they should make the OS smoother.
People do not care as long as they do not have the feeling they are missing something.
Make the BB easy for developers that popular apps are also available for the BB, but this will not gain you any new customers, it will only avoid that you are loosing customers.
Blackberry should focus on the productivity of their customers. I want a phone dead simple but 100% perfect for communicating, 100% secure and 100% trust-able. Blackberry should offer cloud services so that people are locked-in. I use my Blackberry as I used my Nokia, most people do that.
They should leverage their BBM into a social network.
They should upgrade their java, so that android developers can easily develop for BB as well.
They should create an opportunity whereby carriers can earn more money, carriers are loosing ground everywhere. They do not earn money on the whole internet thing on phones nowadays.
Create great utilities, some usable office software.
Offer a cloud service in which you can store every message and any file you ever had on your phone. Comparable with my gmail account. So that i ve a BB archive.
Focus on privacy. There's a huge chance there will be a backslash on privacy in the next 5 years. I do not trust android or iphone phones. With the first a feel too much attached too google with the second I'm Apple's prisoner.
Focus on openness. I would like to connect my BB to any system available. I want to install every program I want to use.
Make it a great calculation device. Do you remember the HP 12c calculator. I should have the same kind of feeling with my BB somehow. Not by replicating the calculators functions, but by somehow making it a swiss knive.
A bitcoin exchange is a shady business, no regulation exists. So it is a freespace for criminals and hackers. You hustle or you will be hustled. This guy should have made a withdrawal by any means. In the bitcoin business only your wallet file counts, the rest is just a big hustle. And please forgot that you're able to sue somebody over a bitcoin dispute.
Would you be surprised to hear that ForEx (the method of exchanging currencies like the USD, EURO, and YEN) are also unregulated?
"Unlike stocks, futures or options, currency trading does not take place on a regulated exchange. It is not controlled by any central governing body, there are no clearing houses to guarantee the trades and there is no arbitration panel to adjudicate disputes. All members trade with each other based on credit agreements. Essentially, business in the largest, most liquid market in the world depends on nothing more than a metaphorical handshake."
Article with a foundation in microeconomics. Because of imperfect substitution and joint consumption technologies Lady Gaga and hedge fund managers make more money than investment bankers, who do not enjoy the benefits of joint consumption technologies (every deal is piecework).
Maybe Google wants to buy a highly salesforce, capable of luring small business owners in very risky deals. They definitely could increase the amount of adwords customers as well.
