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Great point. Thanks for the reply. Right now, my system basically can replace any work achieved by the servers and hosts except for delivering food directly to the customers. There are competitor like ziosk and mcdonald's kiosk machine but mine is cheaper and can be applied to basically any restaurants. So small restaurants can also use my technology without paying costly money. The restaurants do not have to provide machines for the customers so there are not theft hazards. Moreover, this is not really about money for me. This is more about my bringing change to the restaurant industry. Thus, I am able to bring the cost down even further. Also, who doesn't like faster services?
I also wondered whether I should patent. But I want to change the restaurant space more than I want to make tons of money. Also, The cost of providing my service is quite low. I believe I am able to beat any competitor that may to come. The thing I am worrying the most is some greedy and dishonorable person patent the exact same system so that I won't be able to provide it to the restaurants. The patent system in tech space is very vague and unclear. I am still considering whether I should patent my system or not.
In my opinion, Uber has a big problem regarding classification of employee or contractor.
http://www.latimes.com/business/technology/la-fi-tn-uber-nationwide-class-action-20160502-story.html
Panda said:
Great point. Thanks for the reply. Right now, my system basically can replace any work achieved by the servers and hosts except for delivering food directly to the customers. There are competitor like ziosk and mcdonald's kiosk machine but mine is cheaper and can be applied to basically any restaurants. So small restaurants can also use my technology without paying costly money. The restaurants do not have to provide machines for the customers so there are not theft hazards. Moreover, this is not really about money for me. This is more about my bringing change to the restaurant industry. Thus, I am able to bring the cost down even further. Also, who doesn't like faster services?
eyephone said:
I also wondered whether I should patent. But I want to change the restaurant space more than I want to make tons of money. Also, The cost of providing my service is quite low. I believe I am able to beat any competitor that may to come. The thing I am worrying the most is some greedy and dishonorable person patent the exact same system so that I won't be able to provide it to the restaurants. The patent system in tech space is very vague and unclear. I am still considering whether I should patent my system or not.
panda
Well-known member
Mark.
Good for you. I don't know anything about the restaurant business but I do like entrepreneurs who try to change the way the game has been played. Usually those who are crazy enough to think that they can revolutionize an industry are the ones who Do. Hopefully you will find a restaurant owner on talk Irvine who may need your service.
Good luck!
Good for you. I don't know anything about the restaurant business but I do like entrepreneurs who try to change the way the game has been played. Usually those who are crazy enough to think that they can revolutionize an industry are the ones who Do. Hopefully you will find a restaurant owner on talk Irvine who may need your service.
Good luck!
http://www.miamiherald.com/news/business/article29858281.htmlmarkim401 said:
For this idea, I doubt a patent will matter much at all. Being first doesn't matter too much either.
You will probably end up winning on design.
AirBnb guy was on recent Ted talk making the same point.
lots of similar sites existed before airbnb but he thinks they won due to design.
You will probably end up winning on design.
AirBnb guy was on recent Ted talk making the same point.
lots of similar sites existed before airbnb but he thinks they won due to design.
panda
Well-known member
Friendster and MySpace before Facebook,
Lycos and AOL before Google.
I agree that being first in the market doesn't matter too much either.
I think uber is also trying to get into this type of business. They are known for being the game changer for the rental car business. One of my college buddies who moved here from Irvine is currently consulting for them here in Atlanta.
Lycos and AOL before Google.
I agree that being first in the market doesn't matter too much either.
I think uber is also trying to get into this type of business. They are known for being the game changer for the rental car business. One of my college buddies who moved here from Irvine is currently consulting for them here in Atlanta.
Panda said:
In my opinion, Uber has a big problem regarding classification of employee or contractor.
http://www.latimes.com/business/technology/la-fi-tn-uber-nationwide-class-action-20160502-story.html
panda
Well-known member
Interesting article. My college friend from Irvine got his MBA from USC and I think this is first main consulting gig after moving to Atlanta. I asked him, "Isn't Uber some type of car rental business? and he mentioned that it had to do something with restaurants or some grocery deliver service like the old Webvan model 16 years.
One of my investor clients from the Bay Area has an interesting passive car rental business on the side. He is a full time software engineer, He buys these newer smart cars from an car auction site in great condition for about $7000 each and owns 7 of them and basically leases them out in San Francisco. He would literally open up the car through his iphone app and was a very similar model to Uber, except it was truly a passive car rental business. With less than $50,000 investment, I think his net passive income was about $40,000/year. 80% annual return on his investment is not bad while working is full time W2 software job in SF. Not bad for a single guy in his late 20s.
One of my investor clients from the Bay Area has an interesting passive car rental business on the side. He is a full time software engineer, He buys these newer smart cars from an car auction site in great condition for about $7000 each and owns 7 of them and basically leases them out in San Francisco. He would literally open up the car through his iphone app and was a very similar model to Uber, except it was truly a passive car rental business. With less than $50,000 investment, I think his net passive income was about $40,000/year. 80% annual return on his investment is not bad while working is full time W2 software job in SF. Not bad for a single guy in his late 20s.