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How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

smallbusiness.yahoo.com

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Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#11

Post by swalsh »

quotient wrote: post #6

This doesn't detail "how" a teenage entrepreneur built a startup on BTC riches. It's not a very exciting story, either. Here's what happened: in early 2012, he put all his money into Bitcoin. Then he cashed out when they peaked (probably around December 2013). Then he used the money to start yet another e-learning business/service. I don't see what the point of this article is. He used money that was given to him to…

Its an article on yahoo.com, are you actually expecting hard hitting reporting?

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#12

Post by free2rhyme214 »

This title "How a Teenager Entrepreneur Built a Startup on Bitcoin Riches" is misleading.

The kid took his grandma's money and bought and sold bitcoin at the right time.

His startup consists of himself and two other dudes.

This isn't Shawn Parker Napster impressive to me.

Is he smarter than your average 15 year old or myself when I was 15? Yeah but not that smart.

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#14

Post by ryandrake »

quotient wrote: post #6

This doesn't detail "how" a teenage entrepreneur built a startup on BTC riches. It's not a very exciting story, either. Here's what happened: in early 2012, he put all his money into Bitcoin. Then he cashed out when they peaked (probably around December 2013). Then he used the money to start yet another e-learning business/service. I don't see what the point of this article is. He used money that was given to him to…

To be fair, this is pretty much the typical entrepreneur-idolization media story:

1. Gamble someone else's money

2. Luck into winning

3. Use the proceeds to invest in something a little less risky

4. Rinse and repeat

5. Be pointed to as an example of how entrepreneurism is a path to success, ignoring the vast majority who don't get past step 1

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#15

Post by kerkeslager »

swalsh wrote: post #11
quotient wrote: post #6

This doesn't detail "how" a teenage entrepreneur built a startup on BTC riches. It's not a very exciting story, either. Here's what happened: in early 2012, he put all his money into Bitcoin. Then he cashed out when they peaked (probably around December 2013). Then he used the money to start yet another e-learning business/service. I don't see what the point of this article is. He used money that was given to him to…

Its an article on yahoo.com, are you actually expecting hard hitting reporting?

It's a link on Hacker News, so I would expect (or rather, hope) to not see links to uninteresting stories.

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#16

Post by drzaiusapelord »

tomp wrote: post #9

Who would have thought... I've read about this boy a few days ago on Reddit (subforum Entrepreneur ). Someone suggested that he should get his story in the media, because it's rather interesting (especially his age, and Bitcoin is still hot nowadays). A month later, here he is! http://www.reddit.com/r/Entrepreneur/comments/25u81a/im_15_a...

I just clicked on that and read the first root comment. The kid more or less admits to using fake reviews on his site. He offers to "fix" a review, which not only sounds incredibly fake, but in which the person claims to be in NY but then claims being in LA.

Err, not sure if this is off to a great start. The skills to speculate bitcoin may not be the skills that get you ahead running an e-learning company. The kid comes off as incredibly dishonest.

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#17

Post by 7Figures2Commas »

> When 15-year-old Erik Finman turned a $1,000 Easter gift from his grandma into $100,000 after cashing in on his Bitcoin investment, he wasn’t all like Cristal, Maybach, diamonds on your timepiece.

It would be kind of difficult to buy a Maybach with $100,000 given that even a used one costs more than that.

Putting the article's heavy dose of fluff aside, it would be interesting to know if Finman paid capital gains on the $100,000. Additionally, if he truly has "employees" that he's paying in Bitcoin, it would be interesting to know if he's properly doing withholding, since you have to pay that in USD.

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