Chapter
Rocket Building and Prize Money
59:49 - 1:03:37 (03:47)
The X prize offered a 30 million dollar reward to the first team that could build a rocket satisfying certain requirements, unlike a startup that needs to rely on various rounds of funding. The speaker uses the example of how Twitch offered $10 million for a live streaming app to explain the difference.
Clips
The idea of a prize for innovation can be a great motivator for startups.
59:49 - 1:01:52 (02:03)
Summary
The idea of a prize for innovation can be a great motivator for startups. This idea has been exemplified by the X Prize, which prompted multiple teams to try and win a $30 million reward by building a rocket to satisfy specific requirements.
ChapterRocket Building and Prize Money
Episode#70 - Making Money In 48 Hours, Fat FIRE & How To Collect $2M
PodcastMy First Million
The potential acquisition of apps by large corporations can be varied in terms of its perceived value.
1:01:52 - 1:03:37 (01:44)
Summary
The potential acquisition of apps by large corporations can be varied in terms of its perceived value. It may not always interest certain companies or be appealing to designers who may not like the odds of their app being chosen, but the amount of work put into creating apps often determines its value.