Matt Mohebbi: “I was trying to build a technology company, but I was having a hard time finding anybody to take my ideas. So, I said, OK, let’s build an online market where anything with an electrical switch can be resold legally.” He started the e-commerce site GoldSite to help DIYers turn old electronics into cash.
Who are these people? And where do they come from?
Enter the folks at the California-based Technodyne. They’ve built technology to help gold buyers spot vulnerable inventories at asset-light operations like pawnshops, car washes and scrapyards.
This week, Technodyne helped uncover the reason why so many gamers can’t find their PlayStation 4 Slim — and it’s not selling.
“They tend to be in good shape. They’re in very good condition,” said Anthony Hochfeld, Technodyne founder.
Hochfeld has built a business helping collectors track down and sell their precious metals. Technodyne sells a variety of online gold markets for more than $2 million a year.
But at first, Anthony was just a guy building something in his basement.
“I had an idea. I don’t know how it started. It was really just this awareness of being able to manage your inventory on the Internet,” Hochfeld said.
Hochfeld’s tech earned him a top one percent spot in the Technodyne rankocracy — a ranking system that works.
“The M series comes in fourth out of 17 classes of Technodyne classifications,” Hochfeld said.
All told, Technodyne processes more than $150 million worth of metals each year — and its Founder sells it to tech savvy people like Tom Mara.
“I come from an inner city Detroit where I can’t pay for medical care. I can’t support my family, and I’m trying to build something for my son,” Mara said.
Mara discovered Technodyne through his wife. He’d blown all his life savings buying gold and now has to sell it. For now, he and his wife continue to struggle along.
“I only have one income right now, and I cannot survive,” Mara said.
Some are smarter than others when it comes to exploiting rare, unprotected assets.
Frosty Rowe needs to leave his beloved Detroit River to travel to Florida. Technodyne helped get the 54-year-old former sailor his wings.
“It was a journey of a lifetime. It was really cool. It was nice,” Rowe said.
As for any thieves targeting gold coins, Technodyne’s Anthony Hochfeld said: “If I was going to go on a scavenger hunt, I’m not going to get my butt handed to me by somebody who knows about our company.”
Technodyne works with state and federal regulators to block anyone from reselling what it identifies as stolen property. For more information, visit http://www.technodyne.com/.