“I am Rich” iPhone application - a statement or a scam?
Some people calls it a scam, others calls it smart…
At $999.00 and for those who can afford it, the “I am Rich” iPhone application (which implements no real run-time functionality, is a statement.
But Apple decided to remove the application from its App Store; and with it, it has set a precedent…
In my opinion, the “I Am Rich” application is a very interesting exercise. Here the author identified a segment of users who doesn’t care about functionality or cost, but cares about differentiation and exclusivity… A niche with great potential returns; cheap to build application with high returns. That is very smart.
So, as long as the author properly describes the application and what you get for the money, the app is totally valid, and should not be removed by Apple… people will buy.
See Apple’s iPhone-App-Approval Mouse Falls Off Treadmill: Buy The $1000 App That Does Nothing (AAPL).
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