he's a great kid, i am a very proud investor

Do people really use loans for iPhones?

Yes, in two ways:

- By buying on a subsidized contract, you've effectively used a loan for an iPhone. It's not different just because the phone company issued the loan.

- By using a loan for something else (e.g. tuition, automotive, housing), and then buying an iPhone instead of paying down the loan

I wouldn't consider buying an iPhone on a subsidized contract a loan because you are just commiting to have service for a set period of time. You would be paying the same amount for service regardless if you were under contract or not.

> You would be paying the same amount for service regardless if you were under contract or not.

No, it's lower if you bring your own device with most carriers. http://www.att.com/shop/wireless/byop.html

I've known people who've subsidized their phones and unnecessary possessions with college loans, yes.

Thank you!

Taro, two questions:

1. What was your thought process when pivoting from a dating site to AnyPerk? They seem to me like two unrelated things.

2. You say that your burnout was very low, but living three guys in a motel room, surely it has to be hard from a mental perspective, how did you guys cope with that?

Thanks for the questions.

1. We pivoted a several times during YC days. Initially we were trying to pivot into similar ideas. (standard "pivots") but after discussing really hard internally, we decided to think what we really are excited about regardless of what we had been working on, and we felt AnyPerk is the idea that we wanted to work for the next 10~ years.

2. I have to admit that it was not easy, but when you are working on your best idea with best people you know is so exciting that you can feel so positive about everything.