4 ms·
Where are you incorporated? Are you a non-profit? How do you make money?
by nathanaldensr 5y ago
Where are you incorporated? Are you a non-profit? How do you make money?
- khromem 5y agoWe are a New York LLC. We're not incorporated at the moment. We make money through a subscription model. We do not make anything from the contracts because it seemed wrong to profit from our users failing. We want our incentives to be aligned correctly!
- gnicholas 5y ago> We do not make anything from the contracts because it seemed wrong to profit from our users failing. We want our incentives to be aligned correctly! I assumed that the monthly fee was on top of a percentage fee on lost bets, which other platforms charge. You should make this more prominent on the site — aligned incentives are great!
- khromem 5y agoGood point. Just updated the site to make that clear. Thanks!
- klyrs 5y ago> We do not make anything from the contracts because it seemed wrong to profit from our users failing. This is how naive good-meaning founders start evil parasitic businesses that don't realize their true potential until the buyout...
- trhr 5y agoSince you're allowing people to donate to charities or "anti-charities," you should just allow the user to specify a % fee that goes to you. If I set up a $1,000 contract to go to some Nazi org if I fail, I'd much rather $1 go to the Nazi org and $999 to you.
- zarmin 5y agoSounds like you'd be more motivated to hit that goal with the payment distribution as is.