@deweller Really nice work on the proposal. What do you think about using the same system on an ACT by ACT basis instead of a content by content basis? In this scenario, an ACT is able to submit their new "show or channel idea", backers can purchase shares in the ACT because each ACT would issue an asset on CounterParty, all backers would get repaid based on the tips or ad revenue earned by that ACT, and that revenue would accumulate to include all past and future content produced by the ACT.
I think it might be overwhelming to wade through hundreds of ideas to figure out what to back and minimal content would get produced while waiting for backers, etc. Some content is very time sensitive so 30 days would be too long to wait to produce it. As a producer myself I will occasionally have the idea, and produce it right away, but how would that effort be rewarded with this model? Not to mention the cost of issuing an asset on CounterParty for every idea, whether backed or not could eventually get cumbersome.
If we used the same system you outlined, but used it to vet ACTs instead of individual pieces of content, the network would effectively curate teams that produce content on a regular basis instead of random bits of stories and podcasts.
So as an example, using the same format you proposed "Our ACT will produce a weekly blog and monthly newsletter about Alt-Coins. Here is a sample of our production/editorial ability and team background. Back us by purchasing an option on some of our XYZACT asset on CounterParty. Once our ACT reaches x number of LTBcoin in funding, we will launch the ACT and you will receive a percentage of our revenue (tips/sponsorships) determined by the proportion of total units you hold of XYZACT. Our ACT will use one tipping address and reward all asset backers based on that revenue plus revenue earned by auctioning sponsorships." At that point people could decide to back the ACT or not.
So in this scenario every ACT becomes its own DAC. I think maybe the two ideas could work in conjunction where ideas can still be proposed and ACTs could decide to produce them or not, but I am just wondering if the system of backing, issuing assets, and options might be confusing for the participants if it was done for every idea rather than for each ACT.
If as a backer you no longer like the way an ACT is acting (pun) you could sell your units to someone else. As a backer, I would rather invest my LTBcoin on an ACT that plans to produce content continuously into the future rather than invest in one piece of content that might get buried over time by the Internet and/or get old in a hurry if it is time sensitive.
If the ACT I am invested in contributes good content on a regular basis, I will be rewarded with dividends (is this legal? is it legal if we call them donations?), as will everyone else who backed the ACT as will the producers themselves. And the producers would not need to wait/consult the whole community or their backers before publishing some content on behalf of the ACT. This is effectively the same idea we are doing with the LTB network itself, so each ACT would be a DAC but they would all be tied together because they would all use LTBcoin as their currency and they would all use LTB as their publishing platform.
If the above were implemented I would imagine a situation where we end up with a fair number of high quality ACTs that the audience and producers are invested in. If you want to propose a new ACT you would need to have some topic or insight that isn't being covered by an existing ACT or prove you can do it better, otherwise you will not get funded/backed. If you are a one-off or guest contributor you could sell your content to an existing ACT for publishing.
I think apps could work the same way, so if you are an app developer not a content producer, tell us what kind of app you want to build for the network and if you get enough backing in LTBcoin, build it, and enable people to tip the app so the developer and the backers can get revenue based on the percentage of units they hold in the app DAC.
