Quote:
Originally Posted by Manic!  Twilight had a proven track record of making money before the first film was shot. Turning a popular book into a movie is a safe bet.
Buying an app that makes no money is a big gamble. |
Way to miss the point. Criticizing something because you don't like the target audience is stupid. I don't know if Instagram users are all little teen girls posting useless pics, but even if they were, who cares? It's still a user base of 30 million people and that's what Facebook bought, not the App.
Do you know O'Leary's history? He founded SoftKey, a software company that made and distributed simple freeware and shareware software for home consumers. He later went on to purchase many rivals including The Learning Company and Broderbund. He then sold everything to Mattel for a whopping $3.8 billion, wildly considered to be one of the worst deals in history and resulted in many heads rolling and Mattel being sued by their shareholders.
So to see O'Leary criticizing Instagram because of their demographic of "18 year old girls" is funny considering the target audience for his high-end software like The Print Shop and the fact he made a killing dumping his company onto Mattel.
If anything he should be accusing Instagram of copying his idea of "selling your tech company to someone for several times its actual worth and making a killing". Or maybe praising them for being able to pull the same thing on Facebook that he pulled on Mattel.
Quote:
Originally Posted by goo3 |
Good read. When you look at the history of Systrom, who he went to school with and whose paths he crossed over the years it seems he was destined to create something big.
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