Author Archive for William Hancock

A Different Twitter: Alexis Ohanian

Alexis Ohanian is the founder of the popular social news and conversational website, Reddit. Ohanian doesn’t rely on a story to boost his business but rather the ingenious design that he had for an idea. Reddit was actually the second business that Ohanian and a friend came up with before they found success. They created Reddit with the intention of selling it to the company Y Combinator which theSerena Williams and Alexis Ohanian's Marriage: 13 Things We Never Knew | Page 7 of 31 | Tie Breakery did in 2005. Because of the experience that Ohanian had with creating the platform, he left the company in 2010 and founded another company in the Middle East called Das Kapital Capital. His experience with Reddit allowed him to create this new company without too much trouble. From there, he began to build his personal investments and currently invests in new tech startups.

 

The interesting thing about the Ohanian is that he didn’t stay with one company too long. He had bigger visions of what he wanted to do with his life. Sometimes its not about riding one idea until the top, but rather letting someone else take it over while he pursues his passions.

 

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Redefining the Language of Code

Vlad Magdalin has transformed the website design industry through the creation of his website design platform, Webflow. Although this creator doesn’t have a rags to riches story, just turning his passion into a business has created ease for many others. As a design freelancer, Magdalin created logos and other branded items. Many of his customers wanted him to turn these ideas into websites or create all out marketing campaigns. As his business grew, he began to get more connected with others and built hundreds of websites. Soon he wanted to find an automated way to let others create websites, as he saw a huge market for doing so. So many people just didn’t even want to try to create websites at the time because it took so much prior knowledge regarding HTML, CSS, and Javascript to create a site that was worth the effort. This was years before website builders started coming onto the scene or were well enough to compete with paid coders. Responsive web design tool, CMS, and hosting platform ...It was seeing this struggle from people who were interested in building websites for others that motivated Magdalin to create his service Webflow. It turns a standard coding platform into a visual editor. Unlike having to write code line-by-line, Webflow gives you all the options out front and then allows you to change only the ones you want, without any prior knowledge of coding or the need for drag and drop. This revolutionary platform has allowed many designers to have the ability to create websites for their clients without spending their valuable time learning code. This has created the website’s trademark slogan: breaking the code barrier. Webflow is a great example of an entrepreneur taking skills that they have learned and turning them into a platform that others can use for their own ease of access.

 

Source: https://www.webflow.com/blog/the-freelancers-journey-interview-with-vlad-magdalin

Ernest Garcia: A Whole New Experience

Despite record revenue, Carvana sees losses widen in ...Ernest Garcia is the founder and current owner of the popular online used car trading platform, Carvana. Garcia actually comes from an interesting background as he is not an example of a rags to riches businessman. Garcia’s father had been in the business of selling cars online, as the internet was just becoming something that more and more people were starting to use. His father soon took this skill to create DriveTime. Right before the young Garcia was about to be brought on full time, his father was arrested and convicted of several criminal offenses regarding illegal practices with stock selling and government bailouts. However, Garcia didn’t see this as a lost opportunity. DriveTime quickly began losing money and the younger Garcia began purchasing used vehicles that weren’t selling from the business in order to keep it afloat. Having all these vehicles he wondered if there was a better way to sell the cars than how his father had done it. This gave him the idea of Carvana.

Although Carvana and DriveTime are similar today, this was a radical new idea during its founding in 2013. He developed a way to get quick and easy appraisments for vehicles and match buyers with other vehicles right after they were listed. The concept in and of itself is not one that is essentially new or groundbreaking, but it is the marketing tactics that Garcia has undertaken since creating Carvana that really makes him stand out. Not only have they improved user experience and created a seamless car buying system, Car vending machine in Nashville could put salesmen out of business | Business News | News | The ...they have created user engagment through their car vending machines. When a car is purchased, you can have it delivered to your home or go pick it up from one of these machines. It created user engagement on levels never seen before and makes people excited about buying a car. This is one of the reasons Carvana has grown to be such a large company and why Garcia himself is now worth over $600 million. Even though he had a head start, Garcia created something that users really love which creates value for the business and gives him value in return.

Redesigning the Way We Study: Andrew Sutherland

Get to know Quizlet on Android: Learning apps & games for ...Our education system has stayed pretty much the same as it was two hundred years ago. This is not a bad thing, considering that there are only a small amount of proven ways to actively engage student’s learning abilities. As technology advances, educators are now trying new techniques to improve the ways that students learn in the classroom. With this increase in technology, students are finding it easier to memorize terms and concepts thanks mostly to one of the fastest growing education sites in the world, Quizlet. Quizlet was founded by Andrew Sutherland in 2007 when he was 22 to be a resource to help student study for test and exams. His initial idea for Quizlet came when he was 15 when he created a platform to help him for a quiz. Since then, it has grown to be one of the top 100 sites used around the world. Not only does the company bring in over $10 million per year, it has seen exponential expanses in its user base year over year with a 2 million user increase every month.

Sutherland’s story is one that many young entrepreneurs seem to face. By creating something that either a small group of people want or that they are passionate about, they realize that they can turn their idea into a large business. After creating Quizlet in high school, Sutherland saw its success and made the difficult decision to drop out of MIT in order to grow the business into what it is today. “I knew I wouldn’t be able to do both well,” he says. “I saw how big Quizlet was getting, how many people were using it and how big an impact it could have for millions of students.” Not only does the platform target students like it did back in 2007 at launch, it has introduced teacher tools that can be accessed through various subscription models. Sutherland’s willingness to bring an idea that he had into reality has created him overwhelming amounts of success and the difficult choices that he has made throughout his life continue to drive him to make Quizlet the best platform it can be.

 

Sources:

www.studybreaks.com/college/talking-andrew-sutherland-founder-quizlet/

www.mogulpedia.com/person/andrew-sutherland/

Elon Musk: Technological Empire

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By now, most Americans know who Elon Musk is. It is extremely difficult to miss the luxurious design of one of his Tesla vehicles drive by you or to not be intrigued about his realistic idea for commercializing space travel. Elon Musk, with a net worth of $12.9 billion, is one of the most successful businessmen that lives today and his story of success is one that very few people are aware of.

His parents always had aspirations of their son from the time that he was very young. They noticed he was a tinkerer so they bought him his first computer when he was nine. It came with an astounding five kilobytes of storage and with this computer, Musk made a simple video game called “Blastar.” It was a simpler version of the game “Space Invaders” but was nonetheless an impressive code, especially when you remember it was created by a nine year old. When he was twelve, Musk sold the game for $500 ($1,200 today).

After dropping out of graduate school, Musk and his brother had an idea for an online-type of yellow page directory similar to that of Google and Yelp today. He saw that the internet was going to be the future and wanted to develop the technology and make a living from it. This idea for the directory was groundbreaking in the 90s and was quickly purchased by the company Compaq for $307 million from the two innovative minds. Using his newfound profit, Elon saw the potential that the internet held and decided to create an online banking business. Being in a cutthroat market for online banking, he and another company, Confinity, merged and became what is known today as PayPal. This company was soon sold to eBay for $1.2 billion to handle the online transactions for the online mega-store.

In 2002, Musk founded one of his famous companies, SpaceX, with the mission to make humanity a multi-planetary species. While he was in the development stage, he started his most famous company, Tesla, in 2004. Although Musk is aided largely in his efforts through federal subsidies and investments, Musk funds a large amount of his massive companies himself. Since their conception in 2002 and 2004, Musk has continually invested his own money into his own businesses. By doing so, he is the one making the decisions that lead to the success of the company. If the company loses money, he loses his fortune. This keeps him motivated.

How Tesla and SpaceX have already merged - Business Insider

Although each of these companies has had numerous drawbacks–SpaceX couldn’t get their rockets into orbit until they practically ran out of money blowing them up and Tesla continues to lose money–Elon’s exceptional leadership has and continues to lead these companies to the top of their markets. With estimated combined company values of over $24.3 billion, there is no doubt that with these great companies comes great leadership, something that Elon Musk continues to illustrate through his dedication and hard work.

 

Sources:

www.theverge.com/2015/6/9/8752333/elon-musk-blastar-pc-game

www.gobankingrates.com/making-money/business/how-much-is-tesla-worth

www.waitbutwhy.com/2015/05/elon-musk-the-worlds-raddest-man.html

www.moneymorning.com/2018/02/12/how-much-is-spacex-worth/

Roadster Image: https://is.gd/6GjSnC

Vladimir Tenev: Revolutionizing the Stock Market

Vladimir Tenev is a Bulgarian immigrant who founded one of the most popular budget stock trading platforms within the US marketplace, Robinhood. After being brought to America for a better life, he began his quest to fortune by creating a handful of failed startups including Chronos Research. From this failure, he tried coming up with other ideas but none of them ever came into fruition. During this time he turned to stocks as a source of income and entertainment. At that time, the stock market was full of hidden fees and lots and lots of royalty. He hated that and wondered if there really was a way that he could eliminate all those fees. Soon, he created the idea of a royalty-free stock trading application, Robinhood. He promoted online just to see what the reaction was and if there was really that much interest in it. Within the first day, thousands were interested and over one million showed interest within the first year. Tenev had no prior experience to build a platform of this magnitude. So, he did some research and found what the people wanted and brought the right developers, legal team, and stock market specialists together to make it a reality. To date, the company is valued at over $7 billion and it is still growing. It has quickly become the top stock trading platform for penny stocks, which helps with its royalty free trading strategy. Robinhood has quickly grown and become a prime example of a person, with no experience in the field he is entering, bringing the right tools together for the right people to create a multi-billion dollar company.

Unfortunately, Robinhood’s blatent and public illegal actions by restricting trading during the great GameStop stock short squeeze in January of 2021 has caused it to rightfully lose a large portion of it’s users. Robinhood was at one point the go-to investing app for new investors, but this situation has greatly changed that initial view, as Robinhood’s model has shown to be extremely successful and has been mimicked by many other companies.