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It sends your friends the word yo in a robot voice. no other words are available. but it turns out, i couldn't believe this, my million dollar idea is already out there, and now i'm no longer joking, someone actually raised $1 million for it. >> the developer took eight hours to code. it's so simple apple rejected it from the app store the first time around, because the quality assurance guys thought it was unfinished. >> it seems pretty ridiculous on its face. an app that just says yo, and yet someone got a million dollars for it. of course, a million dollars is not all that much. facebook bo...

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>> you know, chris, there are people who engage in that name, that's the one thing i want to give him, the right to name his own team so long as he doesn't use a racial slur. >> that's right, keep it out of a racial slur, and the new name will be fine with you. >> tell me this, i thought this was a rich man who knew how to make money. can you imagine how much money he would make if he had a new name and all that paraphernalia had to be changed? >> that's right. >> why isn't he smiling to the bank and say, let it be. >> iphone comes out with a new version every year, it's a business model. cong...

Have a great idea like the yo app and somebody comes to you and gives you a million dollars for a chunk of it. they're getting a great app down the road. >> am i wrong? i know there are millions of people around the world that use it, free messaging service. it's a great product. it's unclear to me how it's going to make money. how -- that's the other thing, that is the other thing about this that's similar to the tech bubble, companies that had no clear strategy getting acquired or doing ipo's for hundreds of millions or billions. >> i was around for that original dot com bubble. i think some...

Into app development, there is a lot of money. why is there so much money out there. >> nobody wants to get left out of the next big thing. somebody says, you know, if it costs me a million or two to get in on this, if i lose it, that's okay, i'm going to spread it around and maybe i'll hit one of these jackpots. >> where does the money come from? >> i remember when the financial crisis happened around the housing, there was this planet money called the global pool of money. there was this glut of savings worldwide. there's all this money moving around. i wonder if there's something in miniatu...