re: back of envelope math, I concur, but I showed it to some people who were fairly bright and they commented that the rev potential wasn't called out, when it actually was more modestly. People tend to flip though these quickly so its spelled out a bit pedantically.
re: name - just wanted something generic that also referenced the goal. Happy to change it if pg or anyone else has a problem. No pretensions intended.
I think the greatest part about these products is the "viral" (for lack of a better word) ability. Someone with a new necklace will have all their friends asking about it... show their 10 BFFs. Same goes for cutbot and name tags. (See: http://blog.businessofsoftware.org/2009/07/seth-godins-talk-...) This is something that will be worth noting to people.
I noticed you were pretty specific with what you wanted in a co-founder on cutbots. Did you ever consider that you'd want someone with negotiation/supply chain management skills who has done deals [possibly in China] before? Or if you have before personally, even better. Just throwing that out there.
Lastly, a good way to get some attention and hype when your more finalized would be via http://www.kickstarter.com/. These seem like projects people would want to fund (in return for something... maybe first dibs?).
Good luck!
I would certainly consider someone with Supply chain experience. I have some knowledge by virtue of my job, but it would be a welcome addition.
Kickstarter is a great idea! It would be cool to "Syndicate" that and a YC round:)
The excessive use of the handle YCW10 loses credibility in my book and adds an air of pretentiousness.