What if somebody's phone is of an alternative type, like a flip phone, and they can't install the app needed to tap phones? Then how will they become friends with another
I bought Friendster for $30k – Here's what I'm doing with it
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Re: I bought Friendster for $30k – Here's what I'm doing with it
#252Earlier quoted context omitted.
They dictate the capabilities that their device is offered and how the device is designed. It is up to the consumer to decide if that is worth the price of the device.
You are correct and I don't get OP's point. Don't want apple rules, don't use apple products. They are the business, they can do what they want with it, right?
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Re: I bought Friendster for $30k – Here's what I'm doing with it
#253> He said he would sell it to me for $40k. I offered $20k, which he refused but he said if I had any domain names generating ad revenue, we could do a deal of domains and cash. He said he would accept a lower amount if I paid in Bitcoin. > So we worked out a deal where I gave him $20k in Bitcoin and a domain that was making about $9k/year in ad revenue, and he gave me the domain friendster.com. Now I was the owner of…
You are absolutely right and that jumped out at me. I should also point out the obvious: if people were selling online assets making $9k/year for $9k, there would be a line out the door of people lining up to buy them. If anyone here is selling an asset that makes $X a year for $X, I'll buy it! I make my money back in 12 months and everything else is profit.
So let's value it as it would be valued on, say, Flippa, a decent proxy for "the market." We would look at the monthly revenue: in this case, around $750/mo (which is 9k divided by 12). Then we'd do a multiple of the monthly revenue: 20 is low, 40 is normal. I would actually say 30 here, because this guy created the asset and I would bet he did it well and it's not junk. So let's say it's worth $22.5k.
So I think it would be more accurate to say, "I purchased the site in a deal through assets valued at about $42k, total."
[edit: updated the comment as I got confused about the thing being exchanged - it's a site the guy created that he transferred to make the sale]
Re: I bought Friendster for $30k – Here's what I'm doing with it
#254> this failed Apple App Store review because of Guideline 4.2 — Design — Minimum Functionality. They said “the usefulness of the app is limited because it seems to be intended for a small, or niche, set of users. Specifically, the app is intended for invited friends only.” This is why we need laws regulating mobile platforms. Apple shouldn't be able to dictate what you use your phone for, or what apps you can give to…
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Re: I bought Friendster for $30k – Here's what I'm doing with it
#255> He said he would sell it to me for $40k. I offered $20k, which he refused but he said if I had any domain names generating ad revenue, we could do a deal of domains and cash. He said he would accept a lower amount if I paid in Bitcoin. > So we worked out a deal where I gave him $20k in Bitcoin and a domain that was making about $9k/year in ad revenue, and he gave me the domain friendster.com. Now I was the owner of…
From what I can tell, The upper bound on price for any site making less than 100k a month is 24 months of revenue, but the more common is around 12 months. The buyer takes on substantial risk because it's easy to fake the numbers, and google updates can tank the site at any time. Also, most sites will require maintenance/upkeep to keep earning, or they can tank quick. Even if they have got evergreen content, without…
I see it more as 20-40 on Flippa. Where are you seeing 12x monthly revenue sales?
Re: I bought Friendster for $30k – Here's what I'm doing with it
#256> He said he would sell it to me for $40k. I offered $20k, which he refused but he said if I had any domain names generating ad revenue, we could do a deal of domains and cash. He said he would accept a lower amount if I paid in Bitcoin. > So we worked out a deal where I gave him $20k in Bitcoin and a domain that was making about $9k/year in ad revenue, and he gave me the domain friendster.com. Now I was the owner of…
If you had a steady investment opportunity with 10% return (about in line with long-terms stock market returns), $9000 per year indefinitely is worth the same as $99000 now (in an idealized finance world. In the real world you can't invest $99000 and withdraw $9000 per year because withdrawals during downturns will take out too much. But it's a quick way to calculate equivalent values). That's obviously an upper boun…
Nobody gets 10% a year
Re: I bought Friendster for $30k – Here's what I'm doing with it
#257I remember Friendster being very popular in parts of Latin America / Brazil and Philippines. I think you could definitely get a lot of users through the nostalgia factor.
Re: I bought Friendster for $30k – Here's what I'm doing with it
#258Earlier quoted context omitted.
While this probably could only be done with the cooperation of Apple/Google, something like what they did for contact tracing during the pandemic would be ideal. Picking up that you were in the proximity of various friends without any active effort. https://covid19.apple.com/contacttracing
That sounds creepy to me. Taking a photo together doesn't seem like friction to be removed?
Doing it via a photo implies facial recognition, which can potentially be more creepy for people. Is it happening on device or in the cloud? Do I need to register my face when joining the service? What happens to that data if the service is sold at some point in the future?
Re: I bought Friendster for $30k – Here's what I'm doing with it
#259> He said he would sell it to me for $40k. I offered $20k, which he refused but he said if I had any domain names generating ad revenue, we could do a deal of domains and cash. He said he would accept a lower amount if I paid in Bitcoin. > So we worked out a deal where I gave him $20k in Bitcoin and a domain that was making about $9k/year in ad revenue, and he gave me the domain friendster.com. Now I was the owner of…
You are absolutely right and that jumped out at me. I should also point out the obvious: if people were selling online assets making $9k/year for $9k, there would be a line out the door of people lining up to buy them. If anyone here is selling an asset that makes $X a year for $X, I'll buy it! I make my money back in 12 months and everything else is profit. So let's value it as it would be valued on, say, Flippa, a…
Yeah, but you have to scale the projections for uncertainty about the future, and exaggeration by the seller.
In particular, if someone on the internet tells me they’re making $x a month from spammy ads on a squatted domain, I immediately discount the claim substantially due to bullshit. I increase the discount rate if the person making the claim is trying to sell me said domain.
Re: I bought Friendster for $30k – Here's what I'm doing with it
#260What if somebody's phone is of an alternative type, like a flip phone, and they can't install the app needed to tap phones? Then how will they become friends with another
Or they just don't want to install another goddamn app.