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See my prior post for background.

Today I had a long call with a highly experienced investor who asked to hear the idea I talked about -- but didn't describe -- in my prior post. He agreed that the idea is new - as far as we both know - but he will do some research to be sure. He also agreed that if it were implemented correctly it has the potential to be transformative to the entire world, economically and otherwise. Apparently I did not exaggerate its potential size. It also sounds, at least on the surface, to be doable.

Like anything, the hard part is in the details. All of the technology for this idea exists off the shelf, but nailing the user experience would be key, and not easy.

There was much discussion about how an investor could guarantee me an undiluted 5% equity position into the future when that sort of arrangement might handcuff future funding options. We reached an understanding on how to deal with that risk, but I won't go into it here.

The potential investor will do some thinking and digesting and get back to me in a few days. If he passes, I will go to the next person who emailed and asked to hear it. If everyone passes, I'll describe it in a future post.

Are you curious yet?

 
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Dec 11, 2012
We need an update. What's the status Idea?
 
 
Oct 6, 2012
You might bargain for more than 5% up front. But ongoing, undiluted... that's problematic. Beginning with a higher number, but then taking the same risks as the investor(s) regarding additional rounds of funding seems more realistic.
 
 
Oct 5, 2012
@Dil_Doh

[Nope, no one is interested. We'll just be standing over here ignoring you.]

[Still ignoring you. <starts whistling>]

[<whistling>]

You're not helping dude. Based on the rules Scott laid down and the response he got I would expect it to be between two weeks and a month before he reveals it to us, and thats assuming a)no one invests or b)his investor doesn't insist he keep it secret. So just let it lie for now.
 
 
Oct 5, 2012
<whistling>
 
 
Oct 5, 2012
Have you seen that facebook movie? Did you have a lawyer present?

I can't believe you only asked for 5%. You should have asked for selling 26% equity stake for the initial $10 million, and so on. You will get burnt if your starting point is 5%.
 
 
Oct 4, 2012
@MyNDIrish, LOL!!

There is a shop on my way to work, named NuDerma. I always get excited reading it before realizing ...
 
 
Oct 4, 2012
Is it an eye-opening, ironclad proof that God does not exist? No wait, there's no money in that.

How about a new, internet-based religion that's like Scientology except a bit more believable?

 
 
+2 Rank Up Rank Down
Oct 4, 2012
Still ignoring you. <starts whistling>
 
 
Oct 4, 2012
Reading Scott's original plan, I was reminded of a Twilight Zone minor classic - 'Of Late I Think of Cliffordville', about a rich (and basically evil) man who wants to go back in time and start over except knowing the future. After making a deal with the devil, one of his attempts is to go to a 1910 machine shop where he tells the machinist to build something that he 'knows' will succeed. Problem is the technology doesn't yet exist, but he's rather irritated that the machinist doesn't run with his idea. He fully accepted that being the idea person was all that it took. I guess the real concept here is how much are ideas really worth in the marketplace. Scott has set a price, and someone apparently has at least not outright rejected it. So, should it have been more?
 
 
Oct 4, 2012
I've been following our blog for a while. You've touched on the idea of some sort of service that sells a vacation hassle-free, i.e. you don't have to spend hours researching flights, hotels, and other matters. It would probably use data from your online social network, previous vacations, etc. Obviously I don't have the details, but that would be my guess about this idea of yours. I hope it is and it works so that you become a very rich man, and I can point at this comment and say I knew it. Good luck!

[No, but that would be a great idea if someone did it right. There's at least one start up that is "selling" the vacation notes of others. -- Scott]
 
 
Oct 4, 2012
I'm starting to wonder why I read this blog. It used to be incredibly entertaining, witty, and funny. Now I'm starting to feel more like we are the monkeys in the "Monkey Dance" game, or part of some weird social experiment.

I remember when you talked about the Queen visiting, that was awesome. Kinda been downhill since.

[Have you ever seen a dancing monkey that wasn't happy? You make it sound like such a bad thing. -- Scott]
 
 
+3 Rank Up Rank Down
Oct 4, 2012
Waiting for the "GOTCHA This was all one of my tricks I learned in hypnotist school to get people excited" post...
 
 
Oct 4, 2012
Blog post about a potentially world-changing idea: 47 comments. Blog post about a music video by PSY: 55 comments.
 
 
Oct 4, 2012
@swp

[CodeJammer wrote, "Do you think it would be feasible for a nobody to do the same?"

No. This is another example of the rich getting richer and excluding anyone not already in the club.

And if Scott really cared about the world he would give the idea away for free. It'd only be "fair." :-)]

You're forgetting three things here.

1) Scott is trying all this as an experiment. Experiments are good.

2) He DID say he would give it away if none offered a share for it

3) Even if he gave it to us it wouldn't do us any good. We'd still need a VC with $10 million to carry it out, and then that VC would get 100 %. In other words, you're suggesting Scott give his 5 % away to...another rich guy.
 
 
Oct 4, 2012
@crogers23

[>Are you curious yet?

Not really. The last super-secret idea that I heard, one that was supposed to change the world, ended up being the Segway.]

Thats just as good a reason to be curious as if it were a truly good idea. Consider; if/when Scott reveals the idea to us and it turns out to be bad, or at least something we can poke holes in, we get to spend a few days mocking it.

[Exactly. That's the right attitude. -- Scott]
 
 
Oct 4, 2012
Is it a wind powered turbine that people can put on their cars to generate electricity as they drive around?
 
 
Oct 4, 2012
if you start a new company based on this idea, can I choose the name? Dilco. It's short, catchy, and sounds vaguely dirty.
 
 
Oct 4, 2012
Is it a cell 'phone that metabolises the CO2 in your breath and emits crude oil?
 
 
Oct 4, 2012
Yes.
 
 
Oct 4, 2012
How about an app for smart TV's that allow you to put a currsor over an actor during a show and a IMDB box pops up with a list of what they've been in before?

I'm always reaching for the ipad to work out what I seen people in before.
Is it just me or do other do this as well?

[That's funny because I was just talking to an entrepreneur about that very thing, but it looks as if the networks are going after the "second screen" opportunity already. -- Scott]
 
 
 
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