If I’m not mistaken, 800 was the max for the math OR verbal test, hence the cumulative of 1600, right? Well, if your argument is that the SAT test is now cumulatively worth 2400 doesn’t that mean that Math and Verbal sections have to be worth at least 1200 a piece? Assuming the last question is right, I don’t think he lied. Don’t get me wrong though, dude definitely has some grammar/spelling issues.

Mike

The test is now out of 2400, but it has three parts. Each component still maxes out at 800.

Well done, I knew there was something fishy about this twerp. Stick it to him…

Have you notified him of your claims? I’d love to hear his response and further justifications.

Well, I don’t think it even matters whether he answers anymore…

This listing (#110018311959) has been removed or is no longer available.

The biggest flaw with this whole thing is that Cal State Fullerton or wherever the hell he’s going to college only costs like $3k a semester for in-state kids. So why the hell would he need $100k to go to a school that’ll only cost him $12k for 8 semesters?

LOL, d00d….12k * 8 = 96k + books = 100k+. maybe you should go back to college, if you could get in.

I’m going to hope response 6 was a joke.

Even though this kid is definately a twerp, the model is basically not a bad one, especially if it became widespread and enabled many people to go to college that otherwise wouldnt be able to.

2% or even 5% of income isnt so much to pay for an education, given that it will lift your lifetime income by substantially more. Its a gamble for the investor, though, akin to life insurance.

In fact, in Australia, they have a similar scheme whereby the cost of your education is paid for by a small additional tax.

Too bad if he is a liar, I thought it was a nice idea otherwise. At least he tried.

618634 Blog Verification…

618634…

Someone at U of I did a similar thing to get money for college. He asked everyone to send him a penny and actually got enough for college. http://www.snopes.com/college/admin/cent.asp

Ron Steen lied about his SAT scores: LazyMotivation.com…

asdfsaf asfsaf asfsad fs fds fsad fdsa fdsaf ds fsd fdsf adsf…

[…] Ronnie, Ronnie Ronnie… What are you doing to yourself my friend? Word on the street is that you lied about your SAT scores. Why ya gotta be doin that? […]

Why doesn’t he get federal aide, and federal loans like normal people? Hell, if he’s so smart they’ll offer him grants and possibly scholarships. LAME!

>>

$3,000 per semester x 8 semesters = $24,000 . You are both wrong, but foobar if you are going to correct someone you should make sure your numbers are correct. Maybe YOU should go back to college…if you could get in.

Tyler says:
August 11th, 2006 at 8:44 pm
The biggest flaw with this whole thing is that Cal State Fullerton or wherever the hell he’s going to college only costs like $3k a semester for in-state kids. So why the hell would he need $100k to go to a school that’ll only cost him $12k for 8 semesters?

foobar says:
August 11th, 2006 at 9:10 pm
LOL, d00d….12k * 8 = 96k + books = 100k+. maybe you should go back to college, if you could get in.

Tuition is only a small part of the college expense today. If you include room, books, and food, the cost easily passes 12K / year.

As for the SAT, there are three sections now each worth a maximum of 800 points.

This sort of thing has been going on for quite some time in South America. Sports agents will find promising, young soccer players in dismal living conditions and offer them a few thousand dollars now for rights to a certain percentage of their future contracts. It is a legal mess though.

In hungary, the hungarian government gives money to the students to finish the school. After you finished the university and you begin to work you have to pay back the money from your work. Isn’t it the same? It’s a working model I can’t see anything unusual. Also, think again of the California hi tech park’s where giant companies put their tentacles and suck out the poeple to the cubicles ‘work is cool! give us your entire life and work with hitech gadgets what’s supercool!’ - so i dont see the point what is the flash here? We all sold our future, a lot of us sold it before we born, because our parents / grandparents - and so on - sold their children’s future also…

Jeff:

8 semesters is a full 4-year education - that’s 24k for 4 years of college.

This kid is a douche - his family is rich (Anaheim Hills is one of the wealthiest areas in Orange County - with home prices that rival that of Newport Beach) and his family has offered to pay for his education (Cal State Fullerton is right down the street, he will most likely live at home). He is doing this for the publicity and probably with the encouragement of his equally as douchey parents. This kid makes me sick, he’s been rasied in a bubble thinking that every average smuck is going to land $250k a year jobs and investing is a fun game people can play with no regard to the returns. He needs a real dose of reality.

[…] read more | digg story […]

[…] Wanna Buy Me? eBay Kid Who Auctioned 2% Of His Future Income, Lied About His SAT Scores The eBay kid, Ron Steen, who just put himself up for auction for 2% of his future income. The minimum bid price is $100,000. Whether or not this is legal in the first place, it is nonetheless a terrible investment, for several reasons… read more | digg story Share and Enjoy:These icons link to social bookmarking sites where readers can share and discover new web pages. […]

hey guys its not 8 semesters, its 12, he said he’d graduate in 2012, not that it makes a difference.

Perhaps hes a creative?

ERm… Yeah, nothing indicates he lied about his SAT scores. As you mentioned earlier, the test is now out of 2400. This is now out of three sections, Critical Reading, Writing, and Math. What you apparently failed to research is Reading/Writing are commonly grouped into one catagory (the results they send test takers even have them grouped if I’m not mistaken). Thusly 900 would make sense to be the sum of his reading and writing scores.

Now, of course, as I said, 1550 is a LOW score, but in more depth, let’s divide the 900 evenly and say he got 450 on both reading and writing…. Which puts him at around the 28th percentile in writing, and 50th percentile overall…. Impressive eh? This kid is going to make 30mil+ in his life when half the world is smarter than him.

[…] read more | digg story […]

I think assuming 8% for a safe long term investment is actually “bubble thinking”. Typically, Economists assume post-inflation rates of return of 2-3%.

Even so, I think investing in this guy’s income is a highly dubious deal. It gives him a huge incentive (on top of taxes) to minimise his visible income, and — as you point out — he seems to be a dishonest idiot.

very good idea the kid has..but what if he does not get a job?

[…] eBay Kid Who Auctioned 2% Of His Future Income, Lied About His SAT Scores via Digg […]

Wait, I don’t understand that chart. You spend $100,000 one time, and you get 2% of his earnings. If he only ends up with a crappy job making $50,000 a year, you’re making $1,000 a year, and after 40 years, you’ve only lost 60k. What is this bullshit about losing $600,000 ?!

My bad, i just skimmed it and didnt read the part about instead investing the money another way with 8% return.

[…] About the clown kid who is trying to auction off 2% of his earnings - his SATs were awesome: 900/650 Math/Verbal […]

I think this is a great idea! Even if EBay removed the listing (perhaps because of legal issues around this deal), the idea may have future in education loans market! How about education loan providers start providing loans based on what is the potential future income! MyRichUncle does look at the student criteria including SAT score, credit score, programs of study (which is one indicator of future income), but if the student’s goal of future income is also considered and is tied to future incentives from loan company, then it might motivate the students to work harder.

ISn’t there a writing score included with SAT’s?

[…] Link: LazyMotivation.com: Ron Steen lied about his SAT scores! […]

[…] The eBay kid, Ron Steen, who just put himself up for auction for 2% of his future income. The minimum bid price is $100,000. Whether or not this is legal in the first place, it is nonetheless a terrible investment, for several reasons…read more | digg story […]

A Bad Investment Idea Spawns Another…

In case you happen to miss it, a Ron Steen offered up 2% of his future income in exchange for $100,000 today (listing has, of course, long since been taken down). Interesting idea on his part, but a not-so-enticing investment opportunity for anyone wh…

Okay, presuming this person is even a kid and he actually does live in a wealthy area and is actually wealthy…Then it would seem he is actually quite smart, at least on the con artist idea level, just not smart enough to pull it off. He prmomises to make payments yearly on any money he actually ever made working from certain years, not including any inheritance. This SCREAMS, I am a rich family’s bored son who knows that he has quite a chunk of change coming his way sooner or later, and in the meantime would like a nice sports car and possibly some weed. He never intends on actually graduating college or holding any real type of job. What kid college aged has their own lawyer drawing up legal documents for scams….ahem, a Rich kid who has no real perception of the rest of the world. I mean, he’s rich already, he’s just playing a stupid game, just so happens he wasn’t quite clever enough. You’d think he must have a fairly stupid lawyer as well. Just another loser in this world.

okay first of all, i just wanna say you have no life whatsoever to be posting this shit on the internet. grow some balls and tell ron yourself if you have a problem. ron steen may have been confused about his scores. but hey, hes 19. and hes probably alot smarter than you when you were 19. so get a life. and leave ron alone.

To Jeff:

This is Rick Steen,

I am proud to say Ron Steen’s dad, if Ron is guilty of anything, is it being naive. He tried to do this on his own because he is such a good kid he wanted to pay his own way. as with most 18 year olds, he didn’t think it through. my only hope is that all the people that are writing this crap are also in their developmental years and not adults, because you sound like a bunch of kids. You can call me a douche, but leave my kids alone.

sincerely.

Rick Steen

okay and now this is jennifer steen.

jeff, you need to get a god damn life!! ron was probably a hell of alot smarter than you when you were 18, and hes probably smarter than you know. and ron did NOT lie about his SAT scores. he may have been confused but he did not lie. and yes my family may be wealthy, but he wanted to pay for college on his own and not just get a free ride like a lot of other teenagers who live in this area. you need to stop living your life on the computer and YOU need to get a dose of reality you little fag! get a fucking life and leave my family alone.

okay and now this is jennifer steen.

jeff, you need to get a god damn life!! ron was probably a hell of alot smarter than you when you were 18, and hes probably smarter than you know. and ron did NOT lie about his SAT scores. he may have been confused but he did not lie. and yes my family may be wealthy, but he wanted to pay for college on his own and not just get a free ride like a lot of other teenagers who live in this area. you need to stop living your life on the computer and YOU need to get a dose of reality you little fag! get a fucking life and leave my family alone.

i went to school with this, not so genious. he’s the weird kid everyone picked on. He tried too desperately too be funny, most of the entire school hated him, he was on canyon’s short show on adelphia’s channel 3 thing, he’s kinda forced himself upon all records at our school. I remember he tried to tell me in middle school that he worked for the CIA and was sent there to try and spy on us computer kids… and that he was some godlike hacker… that was funny when he couldn’t turn the computer on after saying that… my guess from all the various things i’ve seen and heard of him, he’s just desperately trying to figure out ways to become both self-dependant, and widely known for the gimmicky idea. whatever, most of us aren’t that suprised, especially when he was hitting on my girlfriend of the time and her friend, and ran away when i walked up…

oh and as for the family, you guys really shouldn’t be suprised at the people and their response, your son decided to enter into something news and/or entertainment worthy, ask your son about the starwars kid, and how our critical thinking about cyber bullying really didn’t help the kids case that much. anyhow, smooth move ron, we’re all so… well we’re not proud, but we’re not really disappointed, most of us expected this