the challenge is to make a rasperry pi into a netbook for under $300. you have to have the following:
wireless internet (any just as long as you can connect to the internet without any wires or bluetooth)
32 or 64 bit CPU (a good choice would be a intel atom)
A Screen (has to be at least 7 inch)
A GPU (if the CPU doesnt have one already)
fan(s) to keep it cool.
Speakers
Mouse
RAM
HARD DRIVE or at least 32gb USB flash drive
AT LEAST 1 USB PORT (not including if you used a usb flash drive as hard drive which should be inside the laptop)
ETHERNET
VGA
battery + charger
Headphones jack
Microphone jack
Windows 7 or Linux as operating system.
A keyboard
Power ON and off button
A Case etc to fit it all in
This should be possible as long as you buy the cheapest parts.