if i wanted to make a 401(c)3 non-profit arts foundation Patreon killer that used a closed intermediary grant algorithm to keep from being a money transmission service but still let you effectively direct support toward creators, would you crowdfund starting it and/or subscribe?
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Replying to @HousemaidFear
you donate to the foundation, monthly or whatever. you have settings for how intensely you support various creators. each month, the foundation totals up its money, takes out its operating expenses, and issues the rest in grants to creators based on Dat Algorithm.
1 reply 0 retweets 0 likes -
Replying to @chaosprime @HousemaidFear
Chaos Retweeted Chaos
Dat Algorithm uses your support levels as one of its inputs, but also uses impressions/likes on creators' on-site output, has guards against being used for money laundering, and generally makes it so the service isn't a passthrough, trying to avoid this:https://twitter.com/chaosprime/status/939400180675350530 …
Chaos added,
Chaos @chaosprimethis sounds like the actual sense to be found in the Patreon debacle. this issue, being saddled w/essentially the regulatory burden of a bank, is why i didn't think i could successfully build Patreon when i was desperately wishing for it to exist in 2007. https://subfictional.com/my-theory-patreon-doesnt-want-to-be-a-money-services-business/ …1 reply 0 retweets 0 likes
foundation can also seek government grants and traditional nonprofit fundraising, which goes into the distribution pool
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