Archive for Droupout

“How I Made and Lost 2.5 Million Dollars

2.5 million dollars is a lot of money for anybody, let alone a 21 year old high school drop out.  That, however, was the income of millennial entrepreneur Andrew Fashion.  Andrew created websites which gave users the tools to personally design their MySpace pages. Upon his creation of these websites, Andrew started taking home checks upwards of $100,000.  Unfortunately, he was incredibly irresponsible with his money.  A luxurious house in LA, and multiple top-of-the-line sports cars.  This was just a start.  Newest advances in technology and trips to Hawaii, London and a number of other places around the world were soon tacked on to Andrew’s exhaustive spending.  The key to Andrew’s success?  Excellent marketing that resulted in his sites topping Google’s search rankings.

Unfortunately for Andrew, all good things came to an abrupt, and unpleasant end.  A massive overhaul of his websites in 2007 made Google think they were brand new sites, causing them to plummet to the seventh and eighth pages of Google searches. Andrew’s seemingly endless well of profit instantly dried up leaving him in massive amounts of debt.

Since then, Andrew has been blessed to dig himself out of his financial hole.  He has worked through his debt, and is now a successful internet marketer.  He has clearly learned from his mistake.  “Instead of blowing money on toys and cars, I am going to invest it back into the company or another company.  I will do the typical saving, like 401 k’s and rainy day funds.  Looking forward, Andrew hopes to move away from the internet business and become a real-estate developer.

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Hu is She?

huJulia Hu is doing something dozens of others are doing.  But she is doing it right and she is doing it better.  Hu created a wristband called LarkLife that tracks sleep patterns, diet, and exercise.  Millions of people attempt to log their food intake and fitness for the day through phone apps and website, but have trouble keeping up.  This is not the only issue – Hu and her 21 employees at Lark Technology believe that people are not challenged to change their life simply with raw data.  “When you look at everyone in the world, about 3 to 4 percent are motivated by data. These are Olympic athletes, highly goal-oriented people, and tinkerers,” Hu explains. “The rest of the population is not at all motivated by numbers–or is actually negatively motivated by seeing numbers.”

In fact, the major innovation in her idea is in the interpretation and delivery of the data recorded by the wristband.  The various versions synchronize with your smartphone every day and then turn that information into real tips at the end of the week on how to change your life.  Inc.com asks the consumer to imagine the tips are a health or lifestyle magazine written specifically for you.lark-life-smart-wristband

Hu is as unique as her ideas.  At age 28 she is a second-generation Chinese immigrant, serial entrepreneur, violinist and former gymnast.  Like many entrepreneurs, Hu did not finish the degree she set out to graduate with.  She received her master’s and bachelor’s degrees at Stanford University, but dropped out of business school at MIT to found Lark.  A colleague commenting on the savvy business woman said, “She’s disarming, sweet, and kind, and then you realize she’s completely out-negotiated you.”

One of the most entrepreneurial and inspiring aspects of Hu’s idea are the opportunities it has to continue growing.  The business is collaborating with hospitals to assist patients in reworking sleep routines and is looking to create similar relationships with other health-related organizations.  Hu also has the chance to create the world’s largest sleep database with data from its thousands of users.  She responds to this opportunity by wishing “that benefit can be applied to everyone’s health,” which is the most impressive characteristic of this entrepreneur.  For Hu it is not only about the money, but the ability to aid the entire world, not only Lark users, in the quest for a healthier life.