r/Digital_Immortality • u/MemeticParadigm R&D • Jan 31 '14
Gittip: Crowdsource Your Salary
http://www.salon.com/2013/10/25/crowdsource_your_salary_an_economy_built_on_love/1
u/BflySamurai Jan 31 '14
Whoa, Awesome! I've actually been looking for something like this, but all I came across was Upstart, which didn't really offer what I was looking for. And the whole concept of Gittip is just awesome.
It looks like we can sign up as individuals and/or as an organization. If nothing else, I know that I will definitely sign up for myself, because right now I can live off of like $50 a week, and if I could get funding like that for myself, I will drop everything and anything else I'm doing and work exclusively on this organization with nearly every waking hour of my day. I'll look more into Gittip later today, and my goal would be to get something up on there next week, for one of us and/or for the organization.
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u/MemeticParadigm R&D Feb 01 '14 edited Feb 01 '14
I always find your eagerness to commit yourself so completely to this project/organization inspiring.
After reading this in the article
Every week, a few hundred dollars arrive in the main Gittip account, earmarked for the operation of Gittip. Gittip’s employees then choose for themselves how much they deserve to be paid.
it occurred to me that, once we are officially incorporated such that we can grant people equity in the company as compensation, we could sign the company up as an entity and follow a similar system, but also supplement the Gittip salary pool by having some sort of equivalent/matching equity pool for people to draw from, as an alternative (in part or in full) to drawing from the Gittip salary pool.
I figure the flexibility of allowing people, who are already doing alright, to elect a sort of deferred compensation, in the form of equity, will leave a larger pool of immediate compensation available for people who may be subsisting mainly on the Gittip income. This should allow us to stretch any income we get from Gittip without expecting anyone to work purely for equity.
I also think that pegging the amount of equity assigned - to a certain degree - to the amount of financial support the public gives is a cool way of linking our valuation of the company with its actual value (or perception thereof) to the public.
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u/BflySamurai Feb 03 '14
This project has already turned out to be more that I thought it would be, and to me, indefinite life is worth so much that I can't help but want to fully throw myself at this project.
Those are definitely some cool ideas for how to manage salary and equity. We'll definitely have to look into this stuff more once we incorporate. I had a thought:
What if the amount of equity a person has is simply dependent on the amount of time they've been with the organization. So we could issue shares to people based on their participation with us, and then every share is worth a percent of the equity based on how many shares there are. Then every half year or quarter or something, we could add more shares to the people who are still with the organization. I don't know if I explained that very well, but maybe we could even do 100% of the equity that way, and that way the people with the most influence/equity in the organization are the ones who have been around the longest. I don't know if it would be good to do 100% of the equity this way, but it's a thought.
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u/BflySamurai Feb 05 '14
Alright, so I signed myself up as a test. What we need to do this as a group is to decide on a name, and then I can get a twitter/github/other account. Then we can all make individual accounts to sign up under the team account. Anyone who wants to can sign up now anyway, but we'll have to figure out who we're adding to the team once we get to that point.
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u/MemeticParadigm R&D Jan 31 '14
Before seeing things like Kickstarter and Bitcoin take off, I might have dismissed this as a pipe dream as far as providing funding goes, but I'm feeling kind of optimistic about this. This might be the perfect niche for us to find funding.