Author Archive for Shannon McDade

Oculus Rift

Palmer Luckey, a 22 year old, created a product called the Oculus. This product is a virtual reality headset that is used for gaming but can also be used for videos. However, he didn’t start his interest in creating a virtual reality, with the Oculus; rather, at age 14, he started small. In his garage, he would manipulate old iPhone’s and TV monitors into the beginnings of a virtual reality headset like the Oculus. After having developed many prototypes, one caught the eye of John Carmack, who is the founder and CEO of the tech company id Software. Carmack decided to show Luckey’s product at a gaming conference in 2012. A few days after the conference, Luckey dropped out of school and started Oculus with his friend Brendan Iribe, who is now CO of the company.

Soon after Luckey dropped out of school, he started a Kickstarter campaign to gain initial funding to create a marketable product. The goal for the Kickstarter campaign was $250,000. In the end, the campaign garnered around 2.4 million dollars after which a venture-capital company contributed 75 million to the same cause.

Now, the Oculus Rift is going into market for games and game makers are making specific games to cater to its use. Furthermore, Luckey sold the company to Facebook for 2 billion dollars. I’d say his tinkering in his garage was worth it.

Works Cited

 Wolfe, A. (2015, August 7). Palmer Luckey: Making Virtual Reality a Reality. Retrieved December 13, 2015, from                                                          http://www.wsj.com/articles/palmer-luckey-making-virtual-reality-a-reality-1438959172 

Creator of Summly

Summly is a reading application launched in 2013. Instead of having to read full paragraphs of articles, books, any type of text, Summly summarizes paragraphs into a few succinct phrases that allows the reader to get the idea of the passage. One would imagine that the creator of such an ingenious application would be older, with resources, and part of a company that creates applications. However, the picture of the real creator of Summly is instead one of an 18 year old British teen names Nick D’Aloisio. Nick was driven by entrepreneurship and technology from a young age. At 12, with no coding knowledge, he started creating mobile applications. At first, his ideas were simple as he was still learning how to code. However, D’Aloisio was determined to make an impact in this field.

In 2011, at the age of 15, D’Aloisio got his first round of funding for Summly and after a year of development it was launched. It then gained 500,000 users in the first month after launch and became the number 1 news app in 28 countries. Then in 2013, D’Aloisio sold Summly to Yahoo for 30 million dollars. While it could be expected that he may be reckless and let the money get to his head, so far he hasn’t touched it. He says, “I’m too young to appreciate the value of it…I don’t have a mortgage, I’m 17. To me, a hundred pounds is a lot. Take that as a benchmark” (Stevenson 2013).

His comments and actions suggest a maturity beyond his years. He is famously known for saying, “time is the new currency” (Stevenson 2013). There is much to be learned from this now 20 year old entrepreneur.

Works Cited

 Stevenson, S. (2013, November 11). How Teen Nick D’Aloisio Has Changed the Way We Read. Retrieved December 12, 2015, from                http://www.wsj.com/articles/SB10001424052702303376904579137444043720218 

Social Media Superstar

Most people have heard of the social media platform called Tumblr. It is a place where people can reblog pictures and post small captions to their personal “walls”. In some ways it is like Pinterest, which is picture based and individuals have a picture profile (unlike Instagram in which you post pictures one at a time separately). However, Tumblr, unlike Pinterest, is more about art and less about DIY ideas. What most people don’t know about Tumblr is that it was created by a then 21 year old man named David Karp. He started Tumblr in 2007 in his mother’s basement. He did not truly know how much people would be interested in his product, but he thought he had a good idea. He was right. In the first 2 weeks, 75,000 individuals joined his social media website. Tumblr continued to take off until they were purchased by Yahoo in 2013 for 1.1 billion dollars. Karp, now 28, is worth around 200 million dollars.

Karp did not know the success that his idea would have. He thought that he had a good idea and jumped in. His dedication and belief in himself is something that we as young entrepreneurs should emulate as we go onto our own projects.

Works Cited

 Shandrow, K. (2015, March 19). 8 CEOs Who Amassed a Fortune Before Age 30 (Infographic). Retrieved December 10, 2015, from                    http://www.entrepreneur.com/article/244139 

Etsy Entrepreneur

LeiLei Secor is a 19 year old from New York who attends the University of Virginia (therefore she is paying out of state tuition). The cost for LeiLei to attend University of Virginia a year is around 40,000 dollars a year. Because of such a high cost, LeiLei was driven to find a way to lessen the burden of tuition. So, she decided to start an Etsy account. In the last 3 years, she has raked in upwards of $100,000 selling dainty jewelry and accessories which she hand-makes. Some of her top selling items are layered necklaces, statement pendants, knuckle rings, and wire jewelry.  Because of her successes selling on Etsy, Secor is paying for her tuition. Furthermore, in 2014 she received the Nation Federation for Businesses’ Young Entrepreneur of the Year Award.

LeiLei’s story should show us as students that we are fully capable of having our own business and being successful at it, even while we are in school. LeiLei worked on her products in her spare time and was wildly successful. Maybe the real message in LeiLei’s story is to students who say “no I can’t” or “I don’t have time”. She would say, “yes you can”.

 

Works Cited

 Okyle, C. (2015, June 24). This Teen Paid for College by Selling on Etsy. Here Are 5 Ways She Did It. Retrieved December 9, 2015,                      from http://www.entrepreneur.com/article/247609 

Chris Benz: Forward in the Fashion World

Chris Benz is an astounding young entrepreneur in the fashion/makeup industry. To those who are not interested in the fashion/makeup industry, you may not have heard of Chris Benz. In fact, for those who are immersed in the industry, you may not think of Benz’s name. However, he has made impact in the fashion industry, even though those who are successful are usually from established labels.

He first gained recognition by receiving a CFDA scholarship while attending Parsons School of Design (“CFDA Inducts 31 New Members.” 2009). This is a prestigious honor from the Council of Fashion Designers of America which is only given to a handful of individuals throughout the world. Benz received it because of the promise that he possessed for a future in the field. Since his receiving of this scholarship, he has worked for companies like Marc Jacobs, JCrew, and Lancome. He is only growing in his own brand and name recognition.

The way that I found Chris Benz is through my interest in makeup. Lancome is one of my favorite brands, (along with Benefit, Urban Decay, Too Faced, Stila, and a myriad of others). He has been a part of developing lipsticks and other makeup for Lancome. More than his involvement with makeup, he is a consultant. Companies bring him in to revive their businesses. He brings an fashion edge to clothing, makeup, and design in general. Currently, Benz is only in his early 30s, and is involved in some of the biggest fashion campaigns in America. His innovation and status should be a sign to us that being young does not mean that someone won’t be listened to. Chris would prove you wrong.

Citations:

“CFDA Inducts 31 New Members.” CFDA. Council of Fashion Designers, 31 Dec. 2009. Web. 02 Oct. 2015.

Christian Siriano: High Fashion on a Budget

Christian Siriano is a 29 year old fashion designer who won the show “Project Runway” in 2008 (at the age of 22). He was and still is the youngest person to ever be the winner of “Project Runway”.

In 2008, I was thoroughly immersed in this show. It in some ways it is like any reality contest program, but to me, the challenges required a kind of resilience and versatility in the contestants that I find astounding. For those who do not know the structure of the show: each week a specific guideline was given to all the contestants about what kind of clothing they had to design. The direction could be anything from an Advant Garde (over the top, free-thinking) look to designing prom dresses for high school students. In addition to the need of versatility, the contestants had a strict time limit for how long each they could spend on each garment. This time limit could be as short as 1 day.

Christian Siriano stood out from this competition in many ways. First, he was young. Many contestants ran their own boutique already, had years of experience as a tailor, worked for other designers, etc. Christian was fresh out of an internship for Alexander McQueen and did not have those many years of experience. However, he did have immense amounts of passion. He often talked about how he had dreamed of this profession his entire life and how much he loved it.

His youth also aided him. While other contestants had the potential to be stuck in their ways, he was fresh and always looking for an interesting, new, and young way to design garments. He was truly fascinating to watch. He was fierce.

Christian Siriano ended up winning “Project Runway”, which truly was not a surprise. His depth and innovation were unmatched on his season of the show. However, what I find astounding is what he did after his victory. He designed for high fashion, which was the kind of design direction highlighted on the show. However, he also has designed  lower budget items. He partnered with Payless and has a fashion forward but on a budget line for women. I think his ability to see that many of the people that watched and supported him on the show would not be able to afford the higher priced design items. He expanded markets and now is very successful.