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Factors of Production

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When Drew was a teenager, he always had an interest in how businesses use coding and their technology. He was even hiring by a company at age 14 to work for them because he researched them and thought their coding was all wrong and he could do it better himself. He was extremely smart in tech and entrepreneurship at a very young age.

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As he grew older, still learning and researching about coding, he came to the idea to create on online hard-drive that could be accessible to everyone. He came up with this idea on the bus to a business meet up and realized he forgot his hard-drive meaning everything he was going to bring to that business was all on that hard-drive that is left at his house. Right then and there, on the bus he started coding to conduct the idea of an online hard-drive.

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As Drew was coding for this app, he wasn't able to use many land factors as it was all online. However, he did have various metals such as copper, gold, aluminum, zinc, iron, and nickel involved in the computers being used to code. Drew was able to find an investor and together they used their mental capabilities together, staying up all night coding everyday for this app to be conducted. They also did plenty of research and had to come up with designs, this is a part of labor.

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Drew was using many computers and other technology during his production and coding of the app. These computers are produced goods that are used as inputs in the production process.

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Drew was able to use all of these factors together to conduct his idea. He knew that people before have tried this idea but it never worked out because they didn't do it right. He thought he would be the one to come out with this idea actually succeeding and he did just that. By using his resources, time, energy, studying, coding, and discussing with his investor, he was able to have his idea play out.

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Once his idea was finally conducted, Drew was able to see it was growing popularity. It was mainly free and only about 4% of his customers were paying. Just that 4% made a big difference and Drew was able to see all his work paying off. He was even noticed by Mark Zuckerberg and had a meeting with Steve Jobs.

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Now Drew is considered a millionaire and he still can't believe it has came to that. He still smiles everyday when he gets to look over his shoulder at a coffee shop and see someones home screen his app on their phone.