So I'm guessing their thinking is something along the following lines:
1) Stanford student has idea.
2) We help Stanford student bring idea to market.
3) Stanford student get mega-rich.
4) Stanford student pays for new wing/department/scholarship/professorship.
Is that basically the idea here? I know it's founded by undergrads and the business school has disowned it, but there has to be some reason they would do this, right?
Their site says "This is an educational initiative and not a profit-making venture." Sounds like a great way to get some experience in startups. They get to meet with a lot of well-connected VCs and put them in touch with some smart Stanford students. Not bad for some kids who haven't graduated from college.
I see... so the incentive is that they will have a resume booster. Makes sense I suppose, but where are they getting the stipends with which to pay the founders?
It sounds like the group is not part of the official Stanford bureaucracy -- as shown by the fact that the B-school allegedly banned students from joining (that's unclear to me, other than as evidence that it's not official).
1) Stanford student has idea.
2) We help Stanford student bring idea to market.
3) Stanford student get mega-rich.
4) Stanford student pays for new wing/department/scholarship/professorship.
Is that basically the idea here? I know it's founded by undergrads and the business school has disowned it, but there has to be some reason they would do this, right?