A kid in Anaheim, Ron Steen, is offering 2% of his future earnings for $100,000 on eBay
from the moment I finish college in 2012 until I am 65 in 2052 you will receive a check in the mail every January made out for 2% of my earnings from the previous year according to my W2’s.
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I don’t want to take out loans and go into debt, I want to catapult myself to the top. I want you to make a lot of money for believing in me. The more you make, the more I make, the better this will work. I am a man of my word, and you will make a profit.
The auction ends August 13, 3:03:12 PDT. He’s got the persuasive style of a Nigerian prince, but I’m all for more power to the entrepreneur. Related and blogged earlier: Prosper allows person-to-person lending up to $25,000 - and allows for creation of groups.
A kid in Anaheim, Ron Steen, is offering 2% of his future earnings for $100,000 on eBay
from the moment I finish college in 2012 until I am 65 in 2052 you will receive a check in the mail every January made out for 2% of my earnings from the previous year according to my W2’s.
…
I [...]
Comments
@ 22:49
Sounds stupid to me. That kid would have to earn alot of money for me to get a return on $100,000. Over the same course of time (53 years) I could invest $100,000 and after a 4.5% annual return I could turn that money into $1,000,000. Hopefully I would do a little better than that.
For that kid to return $1,000,000 on 2% of his earnings he would have to make $50,000,000 over the 53 years. I am not confident the kid would be able to do that.
Also, looks like the entry was taken down.
@ 09:45
your math is way off.
first off, he’s asking for $100,000. not one million.
also, he’d only have to make $125,000 a year on average. i think he could do better.
lastly, you COULD invest $100,000 some other way and hope for a 4.5% growth but who’s to say this guy won’t be able to beat 4.5%. and even if he doesn’t, if you’ve got $100,000 and would rather invest it in a hardworking kid’s college education and future instead of a bank.
@ 16:10
this guys was on the morning news at my school last year.
omg.