It's a pretty simple idea, really. What with hosting costs and my domain registration habit, it costs me about $250 per year to maintain a little spot on the Web that has more disk space and bandwidth available than I'm really likely to consume.
In practical terms, this means that whenever I have an idea—good or not—I can inflict it on the Web under the banner of 250Labs. You'll find a lot of discussion these days regarding how companies should think small and profitable first, then worry about big...particularly if "big" requires big investment. 250Labs simply takes that idea to its illogical extreme.
Questions or comments, please contact: firstname.lastname@example.org