Teenage Entrepreneurs

25 replies
Teenage Entrepreneurs
by Geoffrey A. Flower
Tuesday, May 11, 2010


Cupertino High School senior Diane Keng pitches MyWeboo.com, her third start-up, at the Web 2.0 Expo in San Francisco.
#entrepreneurs #teenage
  • Profile picture of the author kira001
    Banned
    [DELETED]
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  • Profile picture of the author Zack Lim
    A good example that shows anyone can achieve results as long as the person has the strong desire and determination

    Zack
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    • Profile picture of the author PCRoger
      Originally Posted by Zack Lim View Post

      A good example that shows anyone can achieve results as long as the person has the strong desire and determination

      Zack
      Having a lot of time on your hands (I used to get by on 3 hours of sleep some nights when I was that age) and $100k in seed money from dad don't hurt either.

      Especially the $100k in seed money; and did I mention the $100k? (With access to more VC money)

      Nonetheless, I applaud their initiative and work ethic. Most of their peers are just playing games and goofing off. (Evidenced by another article claiming 1/3 of college students are taking remedial classes).

      Regards,
      PCRoger.
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  • Profile picture of the author ButterflyGarden
    Recently went to the State Science & Engineering Fair, there was a whole lot of innovation and budding entrepeneurs there giving me hope...
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  • Profile picture of the author PCRoger
    Originally Posted by blalock61 View Post

    I saw that article; too bad they don't typically invent something of use!

    But, if people have the money to pay for it.. sell it to them.

    All we need are a few more social networking platforms, managers, communication devices, etc.

    It's no wonder employers have the option of hiring 1 - 40 year old or 3 - 20 year olds to get a given amount of work done

    Regards,
    PCRoger.
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  • Profile picture of the author Lou Diamond
    Hello,
    I have been attending a monthly meet up for Internet Marketers, I have been bringing my 18 year old son with me.
    At the meetings they all want to talk to him instead of me, he has several joint ventures set up with several big shots and now I am asking him to get my foot in the door.
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    Something new soon.

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  • Profile picture of the author PCRoger
    My guess is that's because his age group spends money profusely, without any wisdom applied (in general - not trying to offend anyone); why parents continue to fund their teens is beyond me (or where they get the money).

    People our age don't care what label is on our clothes (or how old they are); young people can't understand that I don't want a new truck because I LIKE the 12 year old one I am driving (stereo was replaced 4 years ago )

    One of my clients sold cell phones at the mall years ago when the Motorola Razor came out at $600. It was all people under 25 who bought it (some probably drug dealers).

    I got mine not that long after that for somewhere between free & $50 just for renewing my cell phone contract that I would have renewed anyway.

    On the other hand, that age group is not the best for info products because they expect everything online (other than amazon) to be free - free info, free music, free movies, free games.

    Just my 2 cents.

    Roger.

    BTW, I wish I had a meetup like that around me.
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  • Profile picture of the author HeyLiane
    Look out for me. I'm next. LOL.

    p.s. self motivation For the Win!
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  • Profile picture of the author MCDavies
    Yeah, I read this article this morning. And I took a look at this teenager's start-up site www.myweboo.com.

    I like the words "Let The World Revolve Around Me" written above the log in box.
    This site is definitely targeting the teen demographics!
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  • Profile picture of the author JK Nyerere
    Great piece of PR for their firm. But the story is not impressive at all once you read:

    "...and co-founded the venture with her 25-year-old brother, Steven."

    Then...

    "Ms. Keng has several advantages in pursuing her entrepreneurial ambitions, including her father, a venture capitalist who splits his time between Beijing and Cupertino and gave her $100,000 in seed money."
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    • Profile picture of the author Skribblez
      Originally Posted by JK Nyerere View Post

      Great piece of PR for their firm. But the story is not impressive at all once you read:

      "...and co-founded the venture with her 25-year-old brother, Steven."

      Then...

      "Ms. Keng has several advantages in pursuing her entrepreneurial ambitions, including her father, a venture capitalist who splits his time between Beijing and Cupertino and gave her $100,000 in seed money."
      Agreed. I would've kept reading if she had started off with nothing, or even just $100. And of course, without the help of her brother. THAT would be impressive. But this, $100,000 in seed money? There are HEAPS of teen entrepreneurs and teen webmasters out there, give any of them $100,000 and I'm sure they could do the same, if not better.
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  • Profile picture of the author Niche_Boy
    Banned
    Im only 19 and im in the IM business, i guess im still classed as a *teenager* =P
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    • Profile picture of the author CDarklock
      Originally Posted by Niche_Boy View Post

      i guess im still classed as a *teenager* =P
      You'll find that people in their 40s and above will still classify you as a "child" until somewhere in your mid to late twenties.

      I used to think that was unfair, when I was about your age... and then all this new neurological research came out. Seems the brain has a massive "pruning" cycle with unused memories and knowledge every 12 to 14 years, accompanied by a large growth of new gray and white matter.

      So when you hit puberty, your brain roughly doubles in usable capacity, and a shocking amount of unused information gets thrown away... leaving you with what might be productively viewed as a BIG EMPTY MENTAL HARD DRIVE!

      What do you do with a big empty hard drive, right? You fill it up with all kinds of stuff! You go absolutely nuts!

      And then in your mid-twenties (24-28) you'll go through a new pruning cycle where all the worthless crap you stuck in your brain gets thrown out, and your brain will again increase in usable size. This is around the time most higher-educated people finish their master's degree, most working-class people are nearing ten years of experience, and most entrepreneurs are experiencing their fifth major failure.

      Sounds suspiciously like what we say you need for success, doesn't it? Is it at all possible that what you really need is... to be in your mid-twenties?
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      "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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      • Profile picture of the author Niche_Boy
        Banned
        Originally Posted by CDarklock View Post

        You'll find that people in their 40s and above will still classify you as a "child" until somewhere in your mid to late twenties.

        I used to think that was unfair, when I was about your age... and then all this new neurological research came out. Seems the brain has a massive "pruning" cycle with unused memories and knowledge every 12 to 14 years, accompanied by a large growth of new gray and white matter.

        So when you hit puberty, your brain roughly doubles in usable capacity, and a shocking amount of unused information gets thrown away... leaving you with what might be productively viewed as a BIG EMPTY MENTAL HARD DRIVE!

        What do you do with a big empty hard drive, right? You fill it up with all kinds of stuff! You go absolutely nuts!

        And then in your mid-twenties (24-28) you'll go through a new pruning cycle where all the worthless crap you stuck in your brain gets thrown out, and your brain will again increase in usable size. This is around the time most higher-educated people finish their master's degree, most working-class people are nearing ten years of experience, and most entrepreneurs are experiencing their fifth major failure.

        Sounds suspiciously like what we say you need for success, doesn't it? Is it at all possible that what you really need is... to be in your mid-twenties?
        I plan to make a fair bit of money from being an entrepreneur before my mid twenties. Enough to live on with a bit of spending money wouldn't go a miss :p

        We'll see if it happens, personally 100k before im 25 would be a reasonable target to achieve. The way i see it is i just have to sell 1000 products for 100 each
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        • Profile picture of the author CDarklock
          Originally Posted by Niche_Boy View Post

          I plan to make a fair bit of money from being an entrepreneur before my mid twenties.
          I certainly did. I started my first business at 16. Put myself through college with it. Made a lot of stupid mistakes and bad decisions, too.

          Culturally, Americans think money proves something. It doesn't. Lots of stupid people with bad ideas are making money. Doesn't mean you should do what they're doing.
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          "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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          • Profile picture of the author Niche_Boy
            Banned
            Originally Posted by CDarklock View Post

            I certainly did. I started my first business at 16. Put myself through college with it. Made a lot of stupid mistakes and bad decisions, too.

            Culturally, Americans think money proves something. It doesn't. Lots of stupid people with bad ideas are making money. Doesn't mean you should do what they're doing.
            Good thing im not American. :p british empire ftw!
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  • Profile picture of the author Zabrina
    I like reading about teen entrepreneurs, since I'm still technically a teen too, even if I'm university now. My generation has so many good things going for us, it'd be stupid not to take advantage of them.
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  • Profile picture of the author TimG
    Enjoyed the story but I do wonder what many of the folks in here could create with $100,000 of seed money.

    There are lots of excellent ideas just waiting to be released but unfortunately many don;t see the light of day due to not having the resources to get them launched.

    I was impressed but I would have been completely blown away if there was no seed money involved and a bit more personal sacrifice.

    Respectfully,
    Tim
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    • Profile picture of the author CDarklock
      Originally Posted by TimG View Post

      Enjoyed the story but I do wonder what many of the folks in here could create with $100,000 of seed money.
      But what would they have created at that age? I've had six figure funding several times in my life, and really not done a whole hell of a lot with it. Today, I look back and say "man, I really should have ___________" pretty often. But I didn't... and honestly, most people wouldn't have, in my position. I generally did a lot better than most people over the years, but it's always been just one or two years worth.

      And if I was willing to settle for another one or two years, I wouldn't be struggling right now. It's the long-term stuff that's hard. And honestly, I don't think you can really grasp what long-term means until you get into your thirties.
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      "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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      • Profile picture of the author TimG
        Originally Posted by CDarklock View Post

        But what would they have created at that age? I've had six figure funding several times in my life, and really not done a whole hell of a lot with it. Today, I look back and say "man, I really should have ___________" pretty often. But I didn't... and honestly, most people wouldn't have, in my position. I generally did a lot better than most people over the years, but it's always been just one or two years worth.

        And if I was willing to settle for another one or two years, I wouldn't be struggling right now. It's the long-term stuff that's hard. And honestly, I don't think you can really grasp what long-term means until you get into your thirties.
        Good point - I did not focus on the age and that does bring a better appreciation for what she did.

        Respectfully,
        Tim
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        • Profile picture of the author Daniel Brock
          I always love hearing these stories about teens who are making it big online.

          Kicks me in the butt to stay motivated all the time

          Even if she had help from her bro, and had $100,000 seed, it's still pretty impressive.

          Just no words on how much she made from her previous 2 ventures...
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    • Profile picture of the author x3xsolxdierx3x
      Originally Posted by TimG View Post

      Enjoyed the story but I do wonder what many of the folks in here could create with $100,000 of seed money.

      There are lots of excellent ideas just waiting to be released but unfortunately many don;t see the light of day due to not having the resources to get them launched.

      I was impressed but I would have been completely blown away if there was no seed money involved and a bit more personal sacrifice.

      Respectfully,
      Tim
      Completely agree, Tim.

      I'm convinced that someone could write the Bible, especially nowadays with just about every market being so saturated, and few would read their work if they don't have the resources and $$$$ behind their work.....
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      • Profile picture of the author TimG
        Originally Posted by x3xsolxdierx3x View Post

        Completely agree, Tim.

        I'm convinced that someone could write the Bible, especially nowadays with just about every market being so saturated, and few would read their work if they don't have the resources and $$$$ behind their work.....
        That's been one of my own personal problems - I have a notebook full of ideas but finding the time and funds to get them deployed is a bit of an issue -

        Tim

        PS - I didn't forgot what we discussed via PM. Just working through everything now.
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      • Profile picture of the author CDarklock
        Originally Posted by x3xsolxdierx3x View Post

        I'm convinced that someone could write the Bible ... and few would read their work if they don't have the resources and $$$$ behind their work.....
        It's been my experience that there are STILL awfully few people reading it.
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        "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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    • Profile picture of the author kchui1028
      Originally Posted by TimG View Post

      There are lots of excellent ideas just waiting to be released but unfortunately many don;t see the light of day due to not having the resources to get them launched.
      To Tim, I think most of the problems with people not being successful are not because they don't have the resources, they are just not resourceful enough because they don't want it enough. You gotta be hungry to succeed, even if it means making sacrifices as a teenager, learn to do without a lot of stuff.

      Also, there's always risks when it comes to doing a startup, you might make it big or you might lose it all. If you were to lose it all, you better do it when you were still young anyway.

      Though i don't think her site, myweboo.com will actually make it in silicon valley to be the next facebook, digg, slide, or other successful startups out there, (I doubt she's much of a programmer herself if it takes 100k VC money to make her site) I do admire her strive to succeed at her age.
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  • Profile picture of the author Ilya Feynberg
    Things become a tad bit easier when daddy gives you $100K to play with and your partnered with your brother who's a seasoned entrepreneur.

    That's not to say she doesn't deserve the props, or you shouldn't understand that endless possibilities are simply possible and the standard...

    ...but take everything like this you read with a little grain of salt.
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