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Road To Riches Doesn't Run Through the App Store

Posted by timothy on from the handful-of-winners dept.

Etienne Steward writes "Turns out that while a few fortunes can be made with Apple, Steve Demeter made most of his money by buying Palm (of all companies) at $1.76 and selling at $12. Apparently, there aren't as many iPhone App millionaires as we would like to be believe. From the article: 'In almost a dozen interviews conducted by NEWSWEEK, Apple consultants and programmers jettison the idea that the App Store is a world of easy opportunity, or a fast track to quitting the rat race. Instead they describe an anxiety-wracked marketplace full of bewildering rules, long odds, and little sense of control over one's success or failure. "It's kind of a crapshoot," says Demeter, who spent the last two weekends partying in Las Vegas and New York. "I think we've reached a point where people are thinking I shouldn't quit my day job for this."'"

1 of 305 comments (clear)

  1. The real deal... by sitarlo · · Score: 5, Interesting

    I actually left my job and write iPhone and Android apps for a living. I haven't had a hit better than top 100, but I still make money. A prolific game developer can earn an honest living on the mobile platforms if they diversify their titles across genres and deliver decent apps. I also make money consulting with marketing firms who are using the iphone as a marketing platform. I made more at a regular job, but I'm happy to give up a little cash for the freedom I now have. In the past decade professional software development has become mundane and more tedium than creative. The iPhone and Android have become creative outlets for me. The app store isn't perfect but it has allowed me to break the chains of cubical bondage. It's not easy though. It takes a lot of balls to escape the systematic chaos of work-a-day life and step out on your own. If and when I re-enter the stupid, pointless, and utterly insane working world, I now have a couple of years worth of Objective-C, mobile platform, and smartphone development experience to put on my cv. Yeah, the app store and Android market aren't millionaire nebula, but they are good for a lot of other reasons.