Thread Contributor: Venvasion
14-Year-Old Boy Refused $30 Million for His New Invention
#1
Taylor Rosenthal is not even big enough to drive a car but has already rejected an offer of $ 30 million dollars for the purchase of his startup company RecMed. Rosenthal is ready for the big game. This week the 14-year-old teenager presented his startup idea – vending machine for first aid at the TechCrunch Disrupt conference in Brooklyn, New York.

 [Image: 160505104805-taylor-rosenthal-recmed-780x439.jpg]
 
Quote:I make computerized and robotic vending machines that allows parents and adults to get quick and easy access to first aid supplies when and where they’ll need them. Whenever we travel tournament baseball in Alabama, noticed that one child was injured, and the parents can not find bandages and patches. I wanted to solve this problem.

Since the birth of his idea, which he developed with the help of his parents, who both work in the medical profession, Rosenthal has been hurtling toward success. By the end of 2015, he’d developed a working prototype and was granted a patent. His company, RecMed, was also accepted into an incubation program at The Round House Startup Space in Opelika.
 To date, Rosenthal has earned a total of $100,000 in investments, CNN Money reported. He’s also turned down a $30 million offer from a “large national healthcare company” for his vending machine idea, though he couldn’t discuss the deal due to a nondisclosure agreement.

 [Image: HT_TaylorRosenthal3_MEM_160510_4x3_992.jpg]

RecMed vending machines stock both prepackaged first-aid kits (which cost between $5.99 and $15.95) for ailments like sunburns, blisters, bee stings and cuts, and individual supplies like Band-Aids, rubber gloves, and gauze pads, ranging in price from $6 to $20.

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#2
Honestly, it has potential.

Why have 30 million when you can have millions more than that if you work towards your goals?
The following 1 user Likes seed's post: katos

#3
(05-14-2016, 11:05 PM)seed Wrote: Honestly, it has potential.

Why have 30 million when you can have millions more than that if you work towards your goals?

As you say, it has a lot of potential, kid could go far and make billions if he wanted, set up shares and watch the money roll in, just keep 51% so you own the company ;)
"I'm a gamer, not because I don't have a life... But because I choose to have many"

#4
Kudos to the kid! That's some idea he has there! and I personally think it's a great one! I'm sure he'll get far with this!
If you need assistance with anything, feel free to message me.

I am NOT a robot or am I?

#5
I myself think he's very intelligent and very altruistic!

#6
Wow, he's young still so I guess that decision wouldn't really affect his future in a negative way. Personally I would incorporate the future of biometrics into something like this. For people with health care I bet something like this could be extended to support other services too. In most cases first aid will probably be nothing of an emergency but sometimes it is urgent, so being able to press your finger against the screen and having it bill you directly would be a nice feature in case you forgot your wallet.

#7
(05-23-2016, 11:09 PM)bitm0de Wrote: Wow, he's young still so I guess that decision wouldn't really affect his future in a negative way. Personally I would incorporate the future of biometrics into something like this. For people with health care I bet something like this could be extended to support other services too. In most cases first aid will probably be nothing of an emergency but sometimes it is urgent, so being able to press your finger against the screen and having it bill you directly would be a nice feature in case you forgot your wallet.

A very good point, most likely though the devices would be integrated with applications and services such as Apple Pay, Samsung Pay, etc.
Afterall, very few people leave the house without their phone.
"I'm a gamer, not because I don't have a life... But because I choose to have many"



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