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Pat Vieljeux

Pat Vieljeux

4 years ago

Your entrepreneurial experience can either be a beautiful adventure or a living hell with just one decision.

More on Entrepreneurship/Creators

Nick Nolan

Nick Nolan

4 years ago

How to Make $1,037,100 in 4 Months with This Weird Website

One great idea might make you rich.

Author Screenshot | Source

Imagine having a million-dollar concept in college that made a million.

2005 precisely.

Alex Tew, 21, from Wiltshire, England, created The Million Dollar Homepage in August 2005. The idea is basic but beyond the ordinary, which is why it worked.

Alex built a 1,000,000-pixel webpage.

Each website pixel would cost $1. Since pixels are hard to discern, he sold 10x10 squares for $100.

He'd make a million if all the spots sold.

He may have thought about NFTs and the Metaverse decades ago.

MillionDollarHomepage.com launched in 2005.

Businesses and individuals could buy a website spot and add their logo, website link, and tagline. You bought an ad, but nobody visited the website.

If a few thousand people visited the website, it could drive traffic to your business's site.

Alex promised buyers the website would be up for 5 years, so it was a safe bet.

Alex's friend with a music website was the first to buy real estate on the site. Within two weeks, 4,700 pixels sold, and a tracker showed how many were sold and available.

Screenshot from: Source

Word-of-mouth marketing got the press's attention quickly. Everyone loves reading about new ways to make money, so it was a good news story.

By September, over 250,000 pixels had been sold, according to a BBC press release.

Alex and the website gained more media and public attention, so traffic skyrocketed. Two months after the site launched, 1,400 customers bought more than 500,000 pixels.

Businesses bought online real estate. They heard thousands visited the site, so they could get attention cheaply.

Unless you bought a few squares, I'm not sure how many people would notice your ad or click your link.

A sponge website owner emailed Alex:

“We tried Million Dollar Homepage because we were impressed at the level of ingenuity and the sheer simplicity of it. If we’re honest, we didn’t expect too much from it. Now, as a direct result, we are pitching for £18,000 GBP worth of new clients and have seen our site traffic increase over a hundred-fold. We’re even going to have to upgrade our hosting facility! It’s been exceptional.”

Web.archive.org screenshots show how the website changed.

GIF from web.archive.org

“The idea is to create something of an internet time capsule: a homepage that is unique and permanent. Everything on the internet keeps changing so fast, it will be nice to have something that stays solid and permanent for many years. You can be a part of that!” Alex Tew, 2005

The last 1,000 pixels were sold on January 1, 2006.

By then, the homepage had hundreds of thousands of monthly visitors. Alex put the last space on eBay due to high demand.

MillionDollarWeightLoss.com won the last pixels for $38,100, bringing revenue to $1,037,100 in 4 months.

Made in Canva

Many have tried to replicate this website's success. They've all failed.

This idea only worked because no one had seen this website before.

This winner won't be repeated, but it should inspire you to try something new and creative.

Still popular, you could buy one of the linked domains. You can't buy pixels, but you can buy an expired domain.

One link I clicked costs $59,888.

Screenshot from DomainMarket.com

You'd own a piece of internet history if you spent that much on a domain.

Someone bought stablesgallery.co.uk after the domain expired and restored it.

Many of the linked websites have expired or been redirected, but some still link to the original. I couldn't find sponge's website. Can you?

This is a great example of how a simple creative idea can go viral.

Comment on this amazing success story.

Nik Nicholas

Nik Nicholas

4 years ago

A simple go-to-market formula

“Poor distribution, not poor goods, is the main reason for failure” — Peter Thiel.

Here's an easy way to conceptualize "go-to-market" for your distribution plan.

One equation captures the concept:

Distribution = Ecosystem Participants + Incentives

Draw your customers' ecosystem. Set aside your goods and consider your consumer's environment. Who do they deal with daily? 

  1. First, list each participant. You want an exhaustive list, but here are some broad categories.

  • In-person media services

  • Websites

  • Events\Networks

  • Financial education and banking

  • Shops

  • Staff

  • Advertisers

  • Twitter influencers

  1. Draw influence arrows. Who's affected? I'm not just talking about Instagram selfie-posters. Who has access to your consumer and could promote your product if motivated?

The thicker the arrow, the stronger the relationship. Include more "influencers" if needed. Customer ecosystems are complex.

3. Incentivize ecosystem players. “Show me the incentive and I will show you the result.“, says Warren Buffet's business partner Charlie Munger.

Strong distribution strategies encourage others to promote your product to your target market by incentivizing the most prominent players. Incentives can be financial or non-financial.

Financial rewards

Usually, there's money. If you pay Facebook, they'll run your ad. Salespeople close deals for commission. Giving customers bonus credits will encourage referrals.

Most businesses underuse non-financial incentives.

Non-cash incentives

Motivate key influencers without spending money to expand quickly and cheaply. What can you give a client-connector for free?

Here are some ideas:

Are there any other features or services available?

Titles or status? Tinder paid college "ambassadors" for parties to promote its dating service.

Can I get early/free access? Facebook gave a select group of developers "exclusive" early access to their AR platform.

Are you a good host? Pharell performed at YPlan's New York launch party.

Distribution? Apple's iPod earphones are white so others can see them.

Have an interesting story? PR rewards journalists by giving them a compelling story to boost page views.

Prioritize distribution.

More time spent on distribution means more room in your product design and business plan. Once you've identified the key players in your customer's ecosystem, talk to them.

Money isn't your only resource. Creative non-monetary incentives may be more effective and scalable. Give people something useful and easy to deliver.

Mangu Solutions

Mangu Solutions

4 years ago

Growing a New App to $15K/mo in 6 Months [SaaS Case Study]

Discover How We Used Facebook Ads to Grow a New Mobile App from $0 to $15K MRR in Just 6 Months and Our Strategy to Hit $100K a Month.

Our client introduced a mobile app for Poshmark resellers in December and wanted as many to experience it and subscribe to the monthly plan.

An Error We Committed

We initiated a Facebook ad campaign with a "awareness" goal, not "installs." This sent them to a landing page that linked to the iPhone App Store and Android Play Store. Smart, right?

We got some installs, but we couldn't tell how many came from the ad versus organic/other channels because the objective we chose only reported landing page clicks, not app installs.

We didn't know which interest groups/audiences had the best cost per install (CPI) to optimize and scale our budget.

First month’s FB Ad report

After spending $700 without adequate data (installs and trials report), we stopped the campaign and worked with our client's app developer to set up app events tracking.

This allowed us to create an installs campaign and track installs, trials, and purchases (in some cases).

Finding a Successful Audience

Once we knew what ad sets brought in what installs at what cost, we began optimizing and testing other interest groups and audiences, growing the profitable low CPI ones and eliminating the high CPI ones.

We did all our audience testing using an ABO campaign (Ad Set Budget Optimization), spending $10 to $30 on each ad set for three days and optimizing afterward. All ad sets under $30 were moved to a CBO campaign (Campaign Budget Optimization).

We let Facebook's AI decide how much to spend on each ad set, usually the one most likely to convert at the lowest cost.

If the CBO campaign maintains a nice CPI, we keep increasing the budget by $50 every few days or duplicating it sometimes in order to double the budget. This is how we've scaled to $400/day profitably.

one of our many ad creatives

Finding Successful Creatives

Per campaign, we tested 2-6 images/videos. Same ad copy and CTA. There was no clear winner because some images did better with some interest groups.

The image above with mail packages, for example, got us a cheap CPI of $9.71 from our Goodwill Stores interest group but, a high $48 CPI from our lookalike audience. Once we had statistically significant data, we turned off the high-cost ad.

New marketers who are just discovering A/B testing may assume it's black and white — winner and loser. However, Facebook ads' machine learning and reporting has gotten so sophisticated that it's hard to call a creative a flat-out loser, but rather a 'bad fit' for some audiences, and perfect for others.

You can see how each creative performs across age groups and optimize.

Detailed reporting on FB Ads manager dashboard.

How Many Installs Did It Take Us to Earn $15K Per Month?

Six months after paying $25K, we got 1,940 app installs, 681 free trials, and 522 $30 monthly subscriptions. 522 * $30 gives us $15,660 in monthly recurring revenue (MRR).

Total ad spend so far.

Next, what? $100K per month

A conversation with the client (app owner).

The conversation above is with the app's owner. We got on a 30-minute call where I shared how I plan to get the app to be making $100K a month like I’ve done for other businesses.

Reverse Engineering $100K

Formula:

For $100K/month, we need 3,334 people to pay $30/month. 522 people pay that. We need 2,812 more paid users.

522 paid users from 1,940 installs is a 27% conversion rate. To hit $100K/month, we need 10,415 more installs. Assuming...

With a $400 daily ad spend, we average 40 installs per day. This means that if everything stays the same, it would take us 260 days (around 9 months) to get to $100K a month (MRR).

Conclusion

You must market your goods to reach your income objective (without waiting forever). Paid ads is the way to go if you hate knocking on doors or irritating friends and family (who aren’t scalable anyways).

You must also test and optimize different angles, audiences, interest groups, and creatives.

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B Kean

B Kean

3 years ago

Russia's greatest fear is that no one will ever fear it again.

When everyone laughs at him, he's powerless.

Courtesy of Getty Images

1-2-3: Fold your hands and chuckle heartily. Repeat until you're really laughing.

We're laughing at Russia's modern-day shortcomings, if you hadn't guessed.

Watch Good Fellas' laughing scene on YouTube. Ray Liotta, Joe Pesci, and others laugh hysterically in a movie. Laugh at that scene, then think of Putin's macho guy statement on February 24 when he invaded Ukraine. It's cathartic to laugh at his expense.

Right? It makes me feel great that he was convinced the military action will be over in a week. I love reading about Putin's morning speech. Many stupid people on Earth supported him. Many loons hailed his speech historic.

Russia preys on the weak. Strong Ukraine overcame Russia. Ukraine's right. As usual, Russia is in the wrong.

A so-called thought leader recently complained on Russian TV that the West no longer fears Russia, which is why Ukraine is kicking Russia's ass.

Let's simplify for this Russian intellectual. Except for nuclear missiles, the West has nothing to fear from Russia. Russia is a weak, morally-empty country whose DNA has degraded to the point that evolution is already working to flush it out.

The West doesn't fear Russia since he heads a prominent Russian institution. Russian universities are intellectually barren. I taught at St. Petersburg University till June (since February I was virtually teaching) and was astounded by the lack of expertise.

Russians excel in science, math, engineering, IT, and anything that doesn't demand critical thinking or personal ideas.

Reflecting on many of the high-ranking individuals from around the West, Satanovsky said: “They are not interested in us. We only think we’re ‘big politics’ for them but for those guys we’re small politics. “We’re small politics, even though we think of ourselves as the descendants of the Russian Empire, of the USSR. We are not the Soviet Union, we don’t have enough weirdos and lunatics, we practically don’t have any (U.S. Has Stopped Fearing Us).”

Professor Dmitry Evstafiev, president of the Institute of the Middle East, praised Nikita Khrushchev's fiery nature because he made the world fear him, which made the Soviet Union great. If the world believes Putin is crazy, then Russia will be great, says this man. This is crazy.

Evstafiev covered his cowardice by saluting Putin. He praised his culture and Ukraine patience. This weakling professor ingratiates himself to Putin instead of calling him a cowardly, demonic shithead.

This is why we don't fear Russia, professor. Because you're all sycophantic weaklings who sold your souls to a Leningrad narcissist. Putin's nothing. He lacks intelligence. You've tied your country's fate and youth's future to this terrible monster. Disgraceful!

How can you loathe your country's youth so much to doom them to decades or centuries of ignominy? My son is half Russian and must now live with this portion of him.

We don't fear Russia because you don't realize that it should be appreciated, not frightened. That would need lobotomizing tens of millions of people like you.

Sadman. You let a Leningrad weakling castrate you and display your testicles. He shakes the container, saying, "Your balls are mine."

Why is Russia not feared?

Your self-inflicted national catastrophe is hilarious. Sadly, it's laugh-through-tears.

Max Chafkin

Max Chafkin

4 years ago

Elon Musk Bets $44 Billion on Free Speech's Future

Musk’s purchase of Twitter has sealed his bond with the American right—whether the platform’s left-leaning employees and users like it or not.

Elon Musk's pursuit of Twitter Inc. began earlier this month as a joke. It started slowly, then spiraled out of control, culminating on April 25 with the world's richest man agreeing to spend $44 billion on one of the most politically significant technology companies ever. There have been bigger financial acquisitions, but Twitter's significance has always outpaced its balance sheet. This is a unique Silicon Valley deal.

To recap: Musk announced in early April that he had bought a stake in Twitter, citing the company's alleged suppression of free speech. His complaints were vague, relying heavily on the dog whistles of the ultra-right. A week later, he announced he'd buy the company for $54.20 per share, four days after initially pledging to join Twitter's board. Twitter's directors noticed the 420 reference as well, and responded with a “shareholder rights” plan (i.e., a poison pill) that included a 420 joke.


Musk - Patrick Pleul/Getty Images

No one knew if the bid was genuine. Musk's Twitter plans seemed implausible or insincere. In a tweet, he referred to automated accounts that use his name to promote cryptocurrency. He enraged his prospective employees by suggesting that Twitter's San Francisco headquarters be turned into a homeless shelter, renaming the company Titter, and expressing solidarity with his growing conservative fan base. “The woke mind virus is making Netflix unwatchable,” he tweeted on April 19.

But Musk got funding, and after a frantic weekend of negotiations, Twitter said yes. Unlike most buyouts, Musk will personally fund the deal, putting up up to $21 billion in cash and borrowing another $12.5 billion against his Tesla stock.

Free Speech and Partisanship

Percentage of respondents who agree with the following

The deal is expected to replatform accounts that were banned by Twitter for harassing others, spreading misinformation, or inciting violence, such as former President Donald Trump's account. As a result, Musk is at odds with his own left-leaning employees, users, and advertisers, who would prefer more content moderation rather than less.


Dorsey - Photographer: Joe Raedle/Getty Images

Previously, the company's leadership had similar issues. Founder Jack Dorsey stepped down last year amid concerns about slowing growth and product development, as well as his dual role as CEO of payments processor Block Inc. Compared to Musk, a father of seven who already runs four companies (besides Tesla and SpaceX), Dorsey is laser-focused.

Musk's motivation to buy Twitter may be political. Affirming the American far right with $44 billion spent on “free speech” Right-wing activists have promoted a series of competing upstart Twitter competitors—Parler, Gettr, and Trump's own effort, Truth Social—since Trump was banned from major social media platforms for encouraging rioters at the US Capitol on Jan. 6, 2021. But Musk can give them a social network with lax content moderation and a real user base. Trump said he wouldn't return to Twitter after the deal was announced, but he wouldn't be the first to do so.


Trump - Eli Hiller/Bloomberg

Conservative activists and lawmakers are already ecstatic. “A great day for free speech in America,” said Missouri Republican Josh Hawley. The day the deal was announced, Tucker Carlson opened his nightly Fox show with a 10-minute laudatory monologue. “The single biggest political development since Donald Trump's election in 2016,” he gushed over Musk.

But Musk's supporters and detractors misunderstand how much his business interests influence his political ideology. He marketed Tesla's cars as carbon-saving machines that were faster and cooler than gas-powered luxury cars during George W. Bush's presidency. Musk gained a huge following among wealthy environmentalists who reserved hundreds of thousands of Tesla sedans years before they were made during Barack Obama's presidency. Musk in the Trump era advocated for a carbon tax, but he also fought local officials (and his own workers) over Covid rules that slowed the reopening of his Bay Area factory.


Teslas at the Las Vegas Convention Center Loop Central Station in April 2021. The Las Vegas Convention Center Loop was Musk's first commercial project. Ethan Miller/Getty Images

Musk's rightward shift matched the rise of the nationalist-populist right and the desire to serve a growing EV market. In 2019, he unveiled the Cybertruck, a Tesla pickup, and in 2018, he announced plans to manufacture it at a new plant outside Austin. In 2021, he decided to move Tesla's headquarters there, citing California's "land of over-regulation." After Ford and General Motors beat him to the electric truck market, Musk reframed Tesla as a company for pickup-driving dudes.

Similarly, his purchase of Twitter will be entwined with his other business interests. Tesla has a factory in China and is friendly with Beijing. This could be seen as a conflict of interest when Musk's Twitter decides how to treat Chinese-backed disinformation, as Amazon.com Inc. founder Jeff Bezos noted.

Musk has focused on Twitter's product and social impact, but the company's biggest challenges are financial: Either increase cash flow or cut costs to comfortably service his new debt. Even if Musk can't do that, he can still benefit from the deal. He has recently used the increased attention to promote other business interests: Boring has hyperloops and Neuralink brain implants on the way, Musk tweeted. Remember Tesla's long-promised robotaxis!

Musk may be comfortable saying he has no expectation of profit because it benefits his other businesses. At the TED conference on April 14, Musk insisted that his interest in Twitter was solely charitable. “I don't care about money.”

The rockets and weed jokes make it easy to see Musk as unique—and his crazy buyout will undoubtedly add to that narrative. However, he is a megabillionaire who is risking a small amount of money (approximately 13% of his net worth) to gain potentially enormous influence. Musk makes everything seem new, but this is a rehash of an old media story.

Katherine Kornei

Katherine Kornei

4 years ago

The InSight lander from NASA has recorded the greatest tremor ever felt on Mars.

The magnitude 5 earthquake was responsible for the discharge of energy that was 10 times greater than the previous record holder.

Any Martians who happen to be reading this should quickly learn how to duck and cover.

NASA's Jet Propulsion Laboratory in Pasadena, California, reported that on May 4, the planet Mars was shaken by an earthquake of around magnitude 5, making it the greatest Marsquake ever detected to this point. The shaking persisted for more than six hours and unleashed more than ten times as much energy as the earthquake that had previously held the record for strongest.

The event was captured on record by the InSight lander, which is operated by the United States Space Agency and has been researching the innards of Mars ever since it touched down on the planet in 2018 (SN: 11/26/18). The epicenter of the earthquake was probably located in the vicinity of Cerberus Fossae, which is located more than 1,000 kilometers away from the lander.

The surface of Cerberus Fossae is notorious for being broken up and experiencing periodic rockfalls. According to geophysicist Philippe Lognonné, who is the lead investigator of the Seismic Experiment for Interior Structure, the seismometer that is onboard the InSight lander, it is reasonable to assume that the ground is moving in that area. "This is an old crater from a volcanic eruption."

Marsquakes, which are similar to earthquakes in that they give information about the interior structure of our planet, can be utilized to investigate what lies beneath the surface of Mars (SN: 7/22/21). And according to Lognonné, who works at the Institut de Physique du Globe in Paris, there is a great deal that can be gleaned from analyzing this massive earthquake. Because the quality of the signal is so high, we will be able to focus on the specifics.