MY THOUGHTS ON ELLO AND THE VENTURE CAPITAL FUND
There are mounting trust issues over ello's 435k in VC start up money (18% of the funding needed to launch) that I'd like to put into perspective.
If you believe that avoiding any company, person or organization, that is beholden to a VC group is a good way to go, then you would have to avoid me, most food, light bulbs, buildings, porn, i.e. most things you come into contact with on a daily basis. Why me? Well, I have debt with Sallie Mae and Citibank, real shithole VC companies. Does this mean my degree and thus my work have less integrity? In borrowing what I did not have, have I sacrificed the quality of my contributions to society? I hope not... If this were the case, only the wealthiest among us would be able to afford integrity.
But what about getting private investments instead? Is there any assurance that a private deal is any less greedy / insidious? No. From the outside looking in, private deals are black boxes... We can only pin "hopes" on what's inside someone else's private deal.
I think the big question that we should be focused on is, "do we believe that ello will stick to the 'freemium' gaming industry model that it set forth in its manifesto?" This, done right, can be a fair and non-invasive business plan that people will enjoy taking part in. Or maybe we should ask a less altruistic question: "Damn, this thing is wonky. Will it really be better than fb?" or even "Why risk the effort when me and my friends are doing just fine!?" Totally valid. But to sit on fb, living in the US as it is, and preaching a VC-vegan stance in the name of critical thinking is... I think the flaw here is self-evident.
Change is a constant... We either hate it or want it to happen faster. It is so imperfect in that way, moving through trial and error... So I can understand getting grouchy and demanding better but please be rational and provide realistic alternatives when putting something down. Why couldn't they just be rich enough to not borrow money? is not realistic.
(*added - if they go bankrupt over 435k and my email address goes to a VC as collateral, highly unlikely, it's a far smaller loss than I incur daily on amazon or fb. Your info is sold at every search, every shopping experience, every single clicking second on fb. The attempt to allow people to opt out of this during their personal interactions may seem dumb to some but at least it's worth a try... and I like rewarding people that try. If it doesn't work, I lose nothing that hasn't already been taken from me.)
Just my two cents... and I've also posted a gif of monkeys hugging.