Joel Spolsky describes the dream internship opportunity:
Instead of wasting their talents giving them the usual dull and unimportant tasks of a typical summer internship, we decided to let the interns create a complete new software product, from beginning to end, over the course of one summer. With experienced software developers as mentors, the team will design, program, test, and roll out a complete software product over the course of one hectic summer, going from concept to paying customers in about ten weeks.
Other than interning as chief spray-mister at a Victoria's Secret photo-shoot, I don't know what could be any cooler than this. (This also makes me feel incredibly bad for the giving every intern I've
ever supervised 'the usual dull and unimportant tasks of a typical summer internship.')