iWait – Genius Business Model

This is almost as good as bumvertising, but as I was perusing some people in line for an apple iphone at the local apple store I saw some people wearing t-shirts that said “iwait.org” on them. I asked a few folks where they got them and they said some guy came around handing them out for free. Now i’m a bit of a t-shirt buff so I took a bit of an interest and decided to explore a little. Well it turns out there is a service called iWait which basically provides people to stand in line for things for you, usually the more mundane ticket lines, DMV etc. In this case though iWait has actually put people in line already, and have set up an auction model so you can bid on the people who are inline already, the current bid for someone inline for an iphone is $550, brilliant.