'Foolish' small business idea: Selling their Internet address, which ends in 'TV'.
Start-up Capital: Zero - marketing company approached the islanders with offer.
How small business idea was Launched: A company that markets Internet addresses, signed a deal with Tuvalu to sell its Internet address to buyers worldwide.
Sales: The company sells address to TV stations and other businesses in the television industry like 'Disney Channel .tv'
Earnings: An up-front fee of $50 million was paid by the marketer. For each of the 9,000 citizens in Tuvalu that's $5,500. The islanders also expect to earn a total of $300million in commissions over the next 10 years.
The 9,000 citizens of a Polynesian nation, living on the 16-square mile island of Tuvalu, live in simple thatch huts and eat a diet of fish and coconuts. But their lives have been changed forever - by the Internet. For this small island, located 650 miles north of the Fiji islands, is already planning to build schools, hospitals, houses and roads with the $300million they'll receive from commissions for selling their Internet address, which ends in TV.
Stranger than fiction; although the Internet is directly responsible for catapulting this society from living in a simple primitive manner to the comforts of modern living - the islanders can't surf the web themselves, because the country isn't yet connected to the Internet.
dot TV examples- 'disney channel .tv' - 'bidup .tv' - 'ebert roeper .tv' - 'fox box .tv' - 'bid up .tv'