Jul 16, 2010
Back in the 1980s Michael Larson made the most money ever on the game show Press Your Luck. And it was no accident—Larson had a plan to get rich that surprised everyone: The home viewers, the show's producers and mostly Larson himself.
This and other stories of million dollar ideas, including some from our listeners. Web extra: Listen to Producer Robyn Semien talking with a listener named Abel Gonzales, about his million dollar idea.
- In the world of engineers and investors, there's something called the "elevator pitch." It's what you'd say if you ran into a rich investor in an elevator, and had only 60 seconds to sell your product. The concept is so common that MIT actually hosts a contest for the best elevator pitch. Ira speaks with the contest's judge, Tim Rowe of the Cambridge Innovation Center. (11 minutes)Song: "Sexy Pitch", MIT $100K Entrepreneurship Competition
Larson on Press Your Luck, where he won a record $110,237 in 1984.