ByDarko Savic
A platform where crowdfunded bounties are paid to people who translate scientific papers for general public
4 years ago
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Idea
Spook Louw Jun 02, 2021
Streaming platform to support entrepreneurship
Image credit: https://www.eurogamer.net/articles/digitalfoundry-best-mics-lights-cameras-for-twitch-streaming
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Bounty for the best solution
Provide a bounty for the best solution
Bounties attract serious brainpower to the challenge.
I've recently started following a certain chess player's Facebook gaming stream which got me thinking about what we are willing to support online.
As he plays he discusses different tactics and entertains viewers with his natural charisma. He's also an above-average chess player which obviously requires skill and A LOT of practice. This is true of most people who make money off streams. They have entertaining personalities and they've put in the work to be successful, so I'm not trying to discourage supporting these people at all. But I have noticed that streaming platforms like Facebook, Twitch, YouTube and Onlyfans seem to focus exclusively on gaming and adult entertainment, while musicians benefit in their own way and some artists are beginning to make use of it successfully, I have yet to see anything for people trying to open a business or develop a product.
While crowdfunding for ideas do exist, they tend to focus on rewards or equity. Meaning that you either get something in return for your donation, or you gain equity in the business by pledging money towards it. This makes sense, as crowdfunding platforms aren't as intimate as streaming platforms. People want to see a return on their "investments". Whereas when they donate towards a live video, they are rewarding the streamer for what they are busy doing. The top three crowdfunding platforms, Kickstarter, Indiegogo and GoFundMe all work on reward systems, while platforms like Patreon also offer extra/exclusive content to subscribers. There are no donation based platforms for businesses.
So my idea is to create a platform where people could watch others work towards their dreams/goals and support them if they choose to do so. While I don't think this would be applicable to all industries, I could imagine some vocations/industries might be viable to watch if presented correctly.
Watching someone design logos, code, build something or organize events could potentially be entertaining, provided the host presents it well. I imagine niche industries like clockmaking, baking, florsitry or game designing could be very interesting.
Would this be entertaining enough to justify donations?
Would people be interested in streaming their work?
"On average, expert streamers can make between $3,000 to $5,000 each month playing around 40 hours a week. That specific number doesn’t include ad revenue, which averages about $250 every 100 subscribers." A fraction of that would be a great income supplement for anyone trying to launch their own business. As long as it can be entertaining enough it could be a great way to help support small businesses and entrepreneurs.
[1]https://www.businessofapps.com/affiliate/twitch/
1
Creative contributions
Division of income
In a scenario that you describe, the company that does something different than online content creation would have to dedicate money, people, time, etc., to create representative and most importantly - engaging and entertaining videos (or/and other types of content) to showcase what they do. This would require a separate subset of their team responsible only for that and they would get paid for doing this. Most likely the company would hire additional people for this, artists, who are good at creating engaging content. So while on platforms like Onlyfans or Patreon the whole income from supporters goes to the content creators, here the whole company would have to benefit from it.
So the question then - would it even be worth for the artists to do the job for the company when they could create their own content on dedicated support platforms and get the whole income? Similarly - would it be worth for the company to hire those artists and pay them when they need additional funding themselves? This would have to be beneficial for both parties somehow. Good, engaging content that inspires people requires good artists, good artists would need to get paid considerably more than what they can get on platforms like Onlyfans for their own content. Creating content for someone else is less inspiring and motivating than creating your own content. Can we think of ways how to make this pay off for both the company and its content creators?
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General comments
Shubhankar Kulkarni4 years ago
Hi Spook Louw Great idea!
Do none of the current platforms support giving donations and tips? If they don't, that can be a great feature for the new platform you are suggesting.
Alternatively, earning off streaming is a great model and can be done by any kind of professional. If the budding entrepreneurs display what they have been doing via videos, people interested in their work might want to follow them. Having a subscriber base can increase the earnings of the entrepreneurs.
Entertainment is free mostly. You are chargd in the form of your time spent. I am not sure whether donating in return for entertainment is a sustainable model yet. Has anyone tried that? Also, most businesses have a niche area, which may have only a few followers. Would their donations be sufficient?
Alternatively, what if these entrepreneurs display their work in the form of a course? They can charge for it and the viewers will definitely get something in exchange for their money. The course can be exactly what the entrepreneurs are working on. They do not need to do any extra work. They need to record whatever they are doing and supply it with narration. They might have to spend a couple of hours a week solving questions posted by the students.
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Spook Louw4 years ago
Shubhankar Kulkarni Streaming platforms operate on subscription and tips already, but they only focus on the gaming and adult entertainment industries. So there is no platform for entrepreneurs yet.
I think streamers would have to make the content "educational" as you mentioned. But then you start going into the territory of platforms like https://www.skillshare.com/ and https://www.masterclass.com/ which is also becoming a saturated industry. One way the platform could differentiate itself from these would be that it wouldn't require as many credentials and qualifications to become a streamer. Everyone can decide for themselves whether the streamer they are following is knowledgeable or skilled, people who don't know what they are doing simply won't get any followers unless they are very entertaining.
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Shubhankar Kulkarni4 years ago
Spook Louw I understand. Following those who you think are entertaining or skilled is one thing. I am not sure whether that motivation will be enough to donate.
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