Who wants to be a Bootstrapped Billionaire?

YouTube cofounders Chad Hurley (29, right) and Steven Chen (27, left) in March 2006Sorry Eddie: being a millionaire just doesn’t cut it anymore… not when you can create a company that doesn’t make any money and become an overnight billionaire!

In case you missed it, the guys who founded YouTube.com just sold out their company – but not their concept for US$1.65b… sure, it’s not enough to live on, but consider for a moment that they each made a billion dollars for the 20 months that they put in to the company since it was started in Chad’s garage. That’s like AU$50m per month… in case you’ve missed the story, here ’tis. Entrepreneurs talk about focusing on adding value at a point of the value chain and getting others to do the rest – in a strange twist, Chad Hurley and Steve Chen just outsourced the ‘profit’ component of their business plan! I love it!!!

I do wonder how long it will be before Google runs foul of antitrust legislation though… I’m guessing a lot sooner than it took Microsoft.
A while back, I mentioned The Bootstrappers Bible – well it’s back online again here. I like it… and hope that it’s interesting or useful for you too… I’ve always loved the ChangeThis manifestos – here’s another cool one about group architecture, contrasting ‘spiders’ and ‘starfish’ – simple concept, but very useful.