This is an interesting experiment: unconditional cash grants to creative folks in a wide variety of fields, with the artists/musicians/scientists/etc subsidized by the folks who go on to make companies. https://www.nytimes.com/2018/08/09/technology/talent-opportunity-gap-pioneer-fund.html … https://pioneer.app
A conditional cash grant is (like food stamps) restricted in purpose or (like most items expensed at a company) requires line-by-line justification. This cash grant is unconditional: you can spend all of it, any way you want, without additional justification post-award.
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True - I read it as 'no strings attached' financing which this is certainly not. Fully agreed that this will be an interesting experiment for those who take the $ and work on a cool project. But for those who are even remotely thinking of starting a company why join?
@danielgross -
There are plenty of ways to game this if you're a potential founder. 8% is steep. It's well worth finding a way around the 8-year warrant clause which means founders wouldn't end up subsidizing others. Also have major Qs around how (and if) $ is recycled. Very interesting project
End of conversation
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