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vgr's profile
Venkatesh Rao
Venkatesh Rao
Venkatesh Rao
@vgr

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Venkatesh Rao

@vgr

Conversational account. For work follow @ribbonfarm, @breaking_smart, @artofgig. Tweets are 90% vacuous views, apathetically held. Mediocritopian. IKEA builder.

Los Angeles, CA
venkateshrao.com
Joined August 2007

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    1. Venkatesh Rao‏ @vgr Jan 27
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      An evolution that would be really good for the gig economy would be the evolution of decent risk-pooling models. The kind described in “portfolios of the poor” but higher ticket price.

      1 reply 1 retweet 19 likes
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    2. Venkatesh Rao‏ @vgr Jan 27
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      Example, 12 people form a pool of putting $100/mo into club, 1 person gets an $1100 payout per month. Winner drawn from a bag of names OR someone with an emergency gets to jump the queue. Limit 1 per year. Nobody needs to hold funds long-term. Built purely on trust.

      7 replies 3 retweets 8 likes
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      Venkatesh Rao‏ @vgr Jan 27
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      Lots of mechanisms like this are routinely used by developing world poor and lower-middle class. But they’ve fallen into disuse in the west. Instead we on,y have organized banking/credit OR awkward reliance on friends/family.

      1:27 PM - 27 Jan 2020
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      • ☃️A Thousand Merry F**kin Plateaus🎄 🔫 Captain Meowmori structurally not redeemable Bryan M Arrogation Toast Uncarved Bitmap Jason Lawrence Nara N.
      4 replies 2 retweets 11 likes
        1. Venkatesh Rao‏ @vgr Jan 27
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          The key is to do all this without the need for central asset holding. Only books and trust records are maintained. With incentives to keep people from abusing. Like new member can’t cash out till end of a first full cycle. Missing a month payin bars you on payout for 3 months etc

          2 replies 1 retweet 4 likes
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        1. Andrew Barber  🌐 🌹‏ @abarber1 Jan 27
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          I’ve always thought ROSCAs (https://en.m.wikipedia.org/wiki/Rotating_savings_and_credit_association …) would be popular here. Layaway might be the closest thing?

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        2. Dan Egan  🗽 🇺🇲 🖖 😷‏ @daniel_egan Jan 27
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          Replying to @vgr

          I've tried to figure out a way to facilitate this at scale, but never figured out a way that I believed would work. Trust, transaction costs and adverse selection always seem to doom it. Still interested, if you have ideas though.

          2 replies 0 retweets 1 like
        3. Jake Raden‏ @RadenJake Jan 27
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          Replying to @daniel_egan @vgr

          A few apps do this, Moneypool comes to mind. I think people are so obsessed with appearances and social signaling in America it stifles this kind of thing, at least on the coasts. Once US digests that poverty is structural and not a personal choice, maybe these would get popular

          1 reply 0 retweets 1 like
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        1. Jason‏ @peregrine Jan 27
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          This is a good idea.

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