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How to Zero Out Profit for Your ENGR 145 Startup

by Larry Chiang on June 28, 2014

By Larry Chiang

When I took E145 in 2010, I sat first chair entrepreneurship. If you are Asian, first chair entrepreneurship‘s like first violin. All you have to do to sit first chair entrepreneurship is to get there early enough and be confident enough to sit close.

If you’re wanting a good grade so that it will lead to entry into Stanford, please stop reading this post. College and high school is about recommendation letters. This post is about money. This post is about making money and then spending that money so that there is no net taxable event.

(And by generating revenue, setting the bell-curve for American entrepreneurship, maybe a good school will recruit you to attend / teach / enroll)

Larry Chiang (@LarryChiang)
That class #ENGR145 revs into a higher gear in a hurry @kasiabiesialska!! 

Luv @tjkosnik !!

Tom Kosnik (@tjkosnik)
@LarryChiang @kasiabiesialska Thank You Kasia and Larry. Your words of encouragement inspire me! 🙂

By next week, this summer quarter 2014 class revs into high gear. Think of the following points are a dual ENGR 145 track (like extra credit 😉 You got revenue because you

– EUBM’d (google #EUBM)
– collected money via “Internal escrow” and ‘one-way letters of intent’
– practiced arbitrage by selling two things on eBay (that you didn’t have to inventory :-))
– EURVMM’d (#Eurvmm)
– Hacking PayPal for cash collection.
Now that you got $15,000 – $50,000 in revenue, lets zero out. Lets match up money in and marry it with money out. (It’s a schedule C if you’re an American citizen. If you’re foreign, call someone over at Cooley like Kevin. Text me for his cell/email)
Spending it is pretty strait forward, but as immature students with 50k, you really have to update me how you’re thinking of spending it before you spend it. 
I zeroed out a Stanford Athletics dinner. At this dinner I invited athletes to get mentored by alum athletes. An alum athlete self-studied ENGR 145 and started a VC funded business. Non athletics department department heads got jealous and sent me a cease and desist. Lol, the picture of that letter is on my fB as a cover photo

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