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Forum » 14-year-old turned down a $30M offer for his start-up
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Thread: 14-year-old turned down a $30M offer for his start-up

post 1441502581 05-11-2016, 09:51 AM
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Originally Posted By johsin28⏩
why are miscers calling him dumb?

He is a smart kid. 30 million is nothing

This vending machine has possibilities to be in every high school/university/hospitals/workplace/corner etc.

You have no fcking clue how big medicare business is, do you?

offcourse you don't
Please, he should have taken that money and run. There is nothing proprietary about this. It's a machine that dispenses a product. My nearest bowling alley sells bandages and wraps out of a vending machine. The article says: "To date, the start-up has raised $100,000."

Since he doesn't have any balance sheets or P&L's, let's use that $100,000 to value his company.

Even at a 1% valuation on $100,000 (which is ****ing nut's), his company would be worth $10 million. 10% would be a million.

Stupid...
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post 1441503051 05-11-2016, 09:53 AM
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Originally Posted By johsin28⏩
try sending 14 yrs old CEO with vending machine. see how many people say no. It's not always about the money, may be he just want to be the CEO. It's great accomplishment and all basement dweller calling him idiot. just lol
Don't get me wrong, if he did it himself then it's a massive achievement. It's just...unless he has some sort of patented technology here, selling via vending machines is a terribly competitive and unprofitable business and he should've sold. If he does have some sort of technological advantage, the business would have far more value in selling machines, not managing a network of them.
post 1441503331 05-11-2016, 09:55 AM
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Originally Posted By yondy12⏩
Just take the 30m and retire at 14
thats what i would do lol

but then again I obviously dont have that hunger for more since im not a millionaire yet
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post 1441503611 05-11-2016, 09:57 AM
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Originally Posted By StiffSproles⏩
you Bernie supporters are pathetic cucks. Have to always find a way to justify your inadequacies or failures when you are confronted with success.
Tha fuk are you talking about? Stay on topic swifty

A 14 year old might come up with the idea, and good on him for that. But none have the business acumen to actually set up the manufacturing and operations.
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post 1441503921 05-11-2016, 09:59 AM
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Originally Posted By HateyouOP⏩
Don't get me wrong, if he did it himself then it's a massive achievement. It's just...unless he has some sort of patented technology here, selling via vending machines is a terribly competitive and unprofitable business and he should've sold. If he does have some sort of technological advantage, the business would have far more value in selling machines, not managing a network of them.
He already sold them to six flags. He doesn't even need to sell that many to make 30 million


The straight-A student says he sees a need for RecMed in any "high-traffic areas where children can get hurt," such as amusement parks and sports stadiums. So far, Six Flags has ordered 100 machines, which cost $5,500 each, and several more "major" companies are interested, he said.
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post 1441504031 05-11-2016, 09:59 AM
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Originally Posted By Azzurri⏩
A friend of mines bro created an app and sold it to a buyer for 10million, but also got a % of whatever the app made even if it wasn't his. The company who bought it also got bought out, so he basically sold his company twice. I think he made close to 20-25million off of it.
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post 1441504221 05-11-2016, 10:00 AM
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Fake. No one offered this kid $30m lol, just no. Ask yourself if someone had $30m to invest why would it be for some chubby 14 year old trying to get into the vending machine business? lmao
post 1441504461 05-11-2016, 10:01 AM
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im no ceo but that doesnt seem like an innovative idea that could expand into billions, i'd defo take the 30m
post 1441504481 05-11-2016, 10:01 AM
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Originally Posted By mcdojo⏩
this sounds like another one of those bs articles

who offered him the $30m, it doesn't even say

the company has only raised 100k so far, and is not even in production, and someone that they won't mention values it at $30m?

how often would you even need first aid in a vending machine format
This.

If it's actually true, then the kid is an idiot for not negotiating a better deal to give himself a lump sum + royalties. That way he'd have a nice throne of money, collecting monthly paychecks, AND has the free time to start another project.

He let his ego get the best of him.
Originally Posted By johsin28⏩
He already sold them to six flags. He doesn't even need to sell that many to make 30 million


The straight-A student says he sees a need for RecMed in any "high-traffic areas where children can get hurt," such as amusement parks and sports stadiums. So far, Six Flags has ordered 100 machines, which cost $5,500 each, and several more "major" companies are interested, he said.
That's great and all but the reason a number of highly-hyped companies fail is exactly due to that, hype. They become swamped with orders early on and fail to meet production requirements and end up delaying shipments to their customers. Unless this little kid knows how to scale his production capacity, and I meanIMMEDIATELY, then chances are he's not going to be able to fulfill those orders and end up with a lot of pissed off buyers.

You think a little 14 year old kid knows anything about the bullwhip effect or how supply chain management on a large-scale level work? Even with his parents' help, even if they quit their day jobs to work on this, I doubt they would be able to figure it out and have it setup for a fall release date.
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post 1441504881 05-11-2016, 10:04 AM
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Originally Posted By johsin28⏩
why are miscers calling him dumb?

He is a smart kid. 30 million is nothing

This vending machine has possibilities to be in every high school/university/hospitals/workplace/corner etc.

You have no fcking clue how big medicare business is, do you?

offcourse you don't
And you have no fckkng clue how easy it is for big companies to push the little guy out. I'd be surprised if this kid gets any traction.

All the big players like you mentioned are gonna partner up with a larger, more grounded company, not some kid putting med kits in a vending machine in his parents garage.


If that offer was real, the kid goofed hard
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post 1441505471 05-11-2016, 10:07 AM
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dumb, the kid wouldn't ever have to work again, or could use the funds to fund another company
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post 1441505611 05-11-2016, 10:08 AM
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Originally Posted By AhDo⏩
dumb, the kid wouldn't ever have to work again, or could use the funds to fund another company
or bought some decent clothes.
post 1441505821 05-11-2016, 10:10 AM
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post 1441506001 05-11-2016, 10:11 AM
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post 1441506631 05-11-2016, 10:16 AM
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Originally Posted By velvetmudhole⏩
If I was his parents he would need that bending machine to get a needle and thread to stitch up his face after I busted it


Also.Nice work capitalizing on someone on need of first aid.
Should it be free? Should food in grocery stores be free because people are hungry? Should cars be free because people don't want to walk to work? Go fist yourself at a bernie sanders rally you limp wrist *******
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post 1441507971 05-11-2016, 10:23 AM
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I do not see the value of this since these already exist.

We had these at Boeing and Husqvarna. Even had vending machines with supplies in it, sticky notes, pens, markers, flashlights, gloves.

Put in your CAC and it would read your business group for billing purposes, and you're done.


wouldhavesolditforless/10
post 1441508441 05-11-2016, 10:26 AM
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Originally Posted By Comstarr⏩
This.

If it's actually true, then the kid is an idiot for not negotiating a better deal to give himself a lump sum + royalties. That way he'd have a nice throne of money, collecting monthly paychecks, AND has the free time to start another project.

He let his ego get the best of him.



That's great and all but the reason a number of highly-hyped companies fail is exactly due to that, hype. They become swamped with orders early on and fail to meet production requirements and end up delaying shipments to their customers. Unless this little kid knows how to scale his production capacity, and I meanIMMEDIATELY, then chances are he's not going to be able to fulfill those orders and end up with a lot of pissed off buyers.

You think a little 14 year old kid knows anything about the bullwhip effect or how supply chain management on a large-scale level work? Even with his parents' help, even if they quit their day jobs to work on this, I doubt they would be able to figure it out and have it setup for a fall release date.
..buhhh brah. he is getting chit ton of interest and free marketing from this news. I can't even imagine how many pussies he is gonna get when he tells people he created a company at age 14. Selling it wouldn't be in his best interest. 14 yrs old don't need 30 million dollars anyway and by the time he turns 21 he'll have more than just 30 million.

on the contrary, even if this idea fails, he'll have chit ton of experience on his hand (more experience than most kids) and that would come in handy when he opens his next business.

no one gonna offer u 30 million for something that's a fail. He knows it's a goldmine.
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post 1441508471 05-11-2016, 10:26 AM
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Originally Posted By FearThisjake⏩
Should it be free? Should food in grocery stores be free because people are hungry? Should cars be free because people don't want to walk to work? Go fist yourself at a bernie sanders rally you limp wrist *******
Comparing something people need every day, and something that may not be needed at all........to something that should be readily available in case of an emergency.....kinda apples and celery comparison there brah.


You realize that every mall, gym, and all medical buildings have to HAVE mandatory first aid kits and AED near by?
These are laws you dumbfuk, not nutrition, not a car......
post 1441508731 05-11-2016, 10:27 AM
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Sounds like he watched silicon valley.
post 1441509351 05-11-2016, 10:31 AM
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Originally Posted By johsin28⏩
why are miscers calling him dumb?

He is a smart kid. 30 million is nothing

This vending machine has possibilities to be in every high school/university/hospitals/workplace/corner etc.

You have no fcking clue how big medicare business is, do you?

offcourse you don't
The thing is the idea is cool and the kid is smart but the PUBLIC isn't going to buy that in an over priced vending machine. High schools have nurses and first aid kits on deck for students. Stadiums and amusement parks spend millions on personnel and kits to aid the public.
post 1441509621 05-11-2016, 10:33 AM
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post 1441509911 05-11-2016, 10:34 AM
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Originally Posted By Lysol84⏩
The thing is the idea is cool and the kid is smart but the PUBLIC isn't going to buy that in an over priced vending machine. High schools have nurses and first aid kits on deck for students. Stadiums and amusement parks spend millions on personnel and kits to aid the public.
Yes they will. They will eat it up if you put it in the right place such as amusement parks, gyms, karate school. pretty much any place where kids go to get hurt.
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post 1441510261 05-11-2016, 10:36 AM
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post 1441510381 05-11-2016, 10:36 AM
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Originally Posted By johsin28⏩
..buhhh brah. he is getting chit ton of interest and free marketing from this news. I can't even imagine how many pussies he is gonna get when he tells people he created a company at age 14. Selling it wouldn't be in his best interest. 14 yrs old don't need 30 million dollars anyway and by the time he turns 21 he'll have more than just 30 million.

on the contrary, even if this idea fails, he'll have chit ton of experience on his hand (more experience than most kids) and that would come in handy when he opens his next business.

no one gonna offer u 30 million for something that's a fail. He knows it's a goldmine.
14 year old who SOLD a company for 30 mm will have the same marketing and interest

And there's been thousands of dumb tech purchases/investments worth more than $30 mm
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post 1441510431 05-11-2016, 10:37 AM
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What the hell. that had to be a speculative offer.
I would've taken the $30m and gotten into stocks with a good arse broker and never worked a day in my life, and invest in other startups.


Basically he's betting that his company value will only go up in price. ballsy / faithful
post 1441510491 05-11-2016, 10:37 AM
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Dumb as hell. He's 14, how much phucking business sense or experience does he really have. He thinks he's gonna go full zuckerberg but he prolly ain't even jewish.
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post 1441510991 05-11-2016, 10:40 AM
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Originally Posted By johsin28⏩
Yes they will. They will eat it up if you put it in the right place such as amusement parks, gyms, karate school. pretty much any place where kids go to get hurt.
Gyms, amusement parks already have to have mandatory AED's and first aid kits. If it's a 24hr gym without staff there also needs to be an emergency button located near the front desk to call 911 and an alarm will sound as well.

Pretty much any place kids go to get hurt, there is something already available in which parents would not have to pay. Either the parent already has one (My Lexus came with one, scissors, gloves, gauze, prep wipes, etc etc) or the injury isn't so bad that they could take the child home. If its bad then they just run them to the ER.

The idea isn't helpful at all.....srs.
post 1441511771 05-11-2016, 10:44 AM
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Originally Posted By mCheech⏩
Sounds like he watched silicon valley.
http://money.cnn.com/2016/05/10/tech...runch-disrupt/
Kyle Sandler, founder of Round House, a startup incubator in Opelika, agreed.
Rosenthal is the youngest CEO at Round House, where he has an office and access to mentors in exchange for a 20% stake and a $50,000 investment.
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post 1441512121 05-11-2016, 10:46 AM
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These stories are always fabricated.

Just a few days ago there was a story of a 12 year old "hacker" who broke into Instagrams servers. No details provided, of course (because anybody who has a clue about cyber-security would spot the bullcrap from a mile way) how are first-aid vending machines going to be utilized on a grand scale?

Whoever offered this kid $30M is pathetic beyond belief. Is this vending machine patented? If not, I can spin up a prototype in one week.
post 1441512821 05-11-2016, 10:50 AM
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kid must think he's cuckerberg or something
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