Oddbean new post about login | logout Opensats has conflict of interests! The best way for them is to restructure it! Otherwise it’s a proxy none profit that pumps their investments with tax breaks !
Watch out! Pointing out the obvious will get you targeted by the funded parties who’ve sworn fealty to their financier!
😂
afaik they are very open about who's on the board and who has control over how funds are distributed. Odell is a single voice among like 12 or something. if there is overlap in ten31 investment and opensats grant recipients, perhaps it's because they are important projects led by competent individuals.
Single voice that can be co-opted with bodies who also are investors in this space 😂
I think they are N of M federation where they can vote in and out new members. 4 of 7 i think. Good to remove conflicts of interest. They need a bit more technical expertise in project selection too, IMHO.
If you want be investor be the investor! If you want to handle open source donations and grants then do this instead! Why sitting with one ass on two chairs?!
Ok, well I dont know anything about this. I should research more. All I am saying is that when a developer says "im burnt out", it sounds "meh", that's like code speak for "i got shot" or "I got raped". What it looks like to me is that he's hurting and being kicked when he's down. Not saying he made no mistakes. Im just offering a perspective.
Launch a better open source fund or GFY.
No, I’m staying humble and don’t need money 😉😁
Haha can't argue with that. But maybe take some anyway and continue doing good work! 👀
Ah right. Yes. Conflict of interest is a problem. They need to select a good 9 board of directors, without conflicts of interest. https://opensats.org/about
What is the conflict of interest? They don’t make any fucking money 🤣
I think the idea is ten31 invests in companies. then opensats could also give money to those same companies. the opensats money, since it comes from a 501c3, comes with tax benefits in the US. it'd also be a way for ten31 to support the companies in their portfolio without increasing their risk in an early stage startup.
So ten31 and open sats invest in the exact same companies? And all the board members in open sats are also part of ten31?
no. that's the thing. there is I think person from ten31 who is on the board of opensats. the guy who started opensats haha and if there is an overlap in companies, then it's minimal. much of opensats goes to developers, not usually companies.
I’m open to being wrong about Odell but holy shit you gotta provide some decent evidence. Throwing out a 30 second sound clip from a podcast where Odell says nothing is dumb. He could legitimately be trying to save face for Michael Saylor. What is left for Odell to argue publicly about with Saylor if ark committed to donating anyway? I think it’s much more reasonable to assume that Saylor changed his mind and told ark to support open sats.
yeah that sounds reasonable. let's be clear here, i am not the one criticizing odell. i don't think anything untoward is going on. i was just explaining what i think some people's concerns might be.