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Linda Xie
@linda
Sharing my thoughts on the regular question *why don't you just take a cut of the bounty earnings?* 1. Business model doesn't scale well for bounties unless you charge a very large % of the earnings. This is what other platforms do and we don't want to do that (e.g. Replit bounties charges a 25% cash out fee on top of payment fees you might pay internationally, even then it's not profitable for them and is likely a loss leader for their core business) 2. You get involved as an intermediary which means you get roped into disputes and have to deal with way more regulatory components. This means hiring a much larger team to handle all the operations + legal complexities which increases burn. Eventually you might be able to decentralize but this is a long process and you'll be involved at the start 3. We take handling user funds very seriously so would add a lot more overhead for us with security We want to try a different approach with peer to peer markets since Craigslist + Facebook Marketplace make it work
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Duraa
@duraa.eth
I like this approach! My question was related to scaling your team from 2 passionate people to more people joining the team. That will help to grow the service faster if you have 1 person in each department. And by taking a small cut you can pay them
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Linda Xie
@linda
It's not that simple, off the bat you can't make enough $ to cover salaries so it's either out of your own pocket with ideally some portion funded by grants or it's VC funding (which typically takes up a lot of time itself to raise). Recruiting also takes up a lot of time
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Duraa
@duraa.eth
i know it's not simple. but it will help if it is done! Have you ever considered hiring for an annual revenue percentage? i did this with my film production company in the beginning and it worked
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Linda Xie
@linda
Just not interested in growing the team beyond where the business opportunity actually sits at the moment. Have gotten to see/work with many teams over the years and a key takeaway for me was how many overhired IMO Bountycaster very clearly does not need more than 2 people right now
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