With the World’s financial markets in disarray, Mike Arrington offers a sweet investment tip in his review of OneSeason.
Forget the stock market, it’s falling apart. Invest your money in OneSeason instead, a newly launched San Francisco-based startup that lets you invest real money in professional athletes.
Seems like sound advice for your money, unless you actually care about things like “money” or “sound advice”. In what is essentially a hybrid of the stock exchange and your local bookie, without the oversight or rules of either, this start-up is unlikely to see more than “one season” on in web.
Th “virtual-stock-market-using-real-money” boat has floated once before. StockGeneration sucked in millions of dollars getting people to invest in make-believe stocks before facing legal challenges and disappearing, much to the chagrin of thousands of “investors.”
Sroka isn’t being modest about the companies potential, either. He says once the site reaches 3 million users after a few years, revenue “could hit $50 million to $100 million.” He added, “The ultimate potential for the website is far greater than the $800 million fantasy sports industry.”
The only fantasy here is the CEO’s expectation of signing up 3 million suckers.
He shoots, he misses!
If you do like the concept of trading shares of your favorite atheletes, ignore Mike’s recommendation and have a look at ProTrade. It’s basically the same idea without the need to deposit real money.
The Good: Spending your money on virtual shares of Jorge Posada is way more interesting than dealing with less predicable things like company stocks or mutual funds.
The Bad: Might need anti-depressants after losing your cash here.
TechCrud Grade: D-
Forecast: Either offline within 12 months due to legal troubles, or relaunched as a virtual money game.