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Re:Missed Approach: FAA Says Flytenow Go-around (YC S14) by Guichard on Saturday August 16, 2014 @05:52PM (#8187695)
The blog post merely points out a very significant pitfall in the FAA ruling. By the way, I would research the actual requirements of carrying passengers for hire before saying all you need is a commercial certificate. You need to comply with Part 135 which has very detailed and strict operational requirements and legal aspects.
Re:Missed Approach: FAA Says Flytenow Go-around (YC S14) by mikeash on Saturday August 16, 2014 @06:26PM (#8187789)
The blog post goes beyond discussing the ruling and explicitly discusses why they think their service falls outside the regulations for commercial operations.

You're right that I misunderstood the requirements for a commercial operation, but looking it over it still doesn't look particularly onerous.