This goes in the top 10 of the dumbest things I have ever heard:
27 million people is not too shabby, but it’s nowhere near the scale you need to make a massively large business.
Instagram may prove me wrong and end up being a huge financial success…but I doubt that is going to happen.
The first thing that comes to mind after watching that video is they are scared. What if they get it wrong? What if people are really just using them because they are free? What if no one wants to interview them anymore?
What’s even worse are the number of people who look up to this ‘lottery’ business model.
Build something of value. Charge money for it. Build it some more. Have the guts to say I built something and it is worthy of your time and money in return.