Gather.Town space: https://gather.town/invite?token=mjb9yyWe

Wednesday, July 28th @6pm CET/ 12pm EST

In this session you'll find out wtf a Profit Sharing Community is and how you can build your own.

Notes

• Gather.town went down and the session started 20 minutes later on crowdcast.
• Recording: https://www.crowdcast.io/e/wtf-is-a-profit-sharing
• Profit Sharing Communities are a new model for startups which is meant to be fairer for the people involved, from the founders to investors to community members
• The "shares" of the startup are profit sharing tokens, which pay out a small dividend every time someone interacts with the app. This is tiny on an individual user basis, but can add up over time if the app is popular.
• These tokens make it easy to reward every participant who contributes
• Voting power on decisions is based not only on the number of tokens but also the time you lock your tokens. This is a better long term alignment.
• Profit Sharing Startup - has the twist that while you can mint and burn tokens, you can not transfer them ever. So it may comply better with securities laws in certain countries. Maybe even can't be taxed since can't be sold. Down the line you could clone it into a profit sharing community if you wanted.