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"The 1-2% that succeed can expect an upside of around $10-20 million in annual revenues. This isn’t quite a lottery, but it’s depressingly close." A lottery ti
by ektimo 17y ago
"The 1-2% that succeed can expect an upside of around $10-20 million in annual revenues. This isn’t quite a lottery, but it’s depressingly close."
A lottery ticket costs $1 and isn't worth it. A 1% chance to "win" $10 million would arguably be worth $100,000. I wouldn't say it's close. (And that's not even counting that this is annual revenue.)
- ektimo 17y ago"Winning" iPhone/Facebook: 1 in 100. $10M per year. Winning Mega Millions Jackpot: 1 in 175,711,536. $12M paid over 26 years (http://en.wikipedia.org/wiki/Mega_Millions http://en.wikipedia.org/wiki/Mega_Millions)
- philwelch 17y agoYou're also not counting that it's not so simple. Lotteries are a 1 in millions chance of winning a prize, and a millions out of millions chance of nothing. Developing an iPhone app is a 1-2% chance at millions, but also a chance at hundreds of thousands, a chance at thousands, or even a chance at getting like 100 bucks out of the deal and having some fun at it.