Iphone App

I know the Iphone application market is flooded, but the opportunity Apple created for entrepreneurship is one that I don't think has ever been so easy to access (this is of course coming from someone who hasn't gone through the process yet.) Anyways, I was at a invention to venture conference when I met someone who had created an Iphone application that had been very profitable for him. He said it takes a while to get paid, but there are no start-up fees or anything, Apple just takes 30% of your revenues. This being so I saw an opportunity for me, a broke college student, to make some real money. My business partner and I teamed up and went onto freelance sites like guru.com and put up profit sharing Iphone application programmer needed. We advertised that the programmers would receive 25% of our companies profits and the amount of responses we got back were insane. I am very excited to see how the application turns out and how the long distance communication between my programmer and I works.