🌍

Problems with Prizes

  • Very little work today happens through prizes (emh)
  • Prizes are high variability; reliability is important for getting things actually done
  • Prizes are fixed/cost basis; actual economy is value-add based
  • Prizes are seductive but lazy: "here's some money, give me stuff!"
  • high uncertainty with prizes discourage serious participants
  • while wasting lots of time from wannabes
  • Prizes rely a lot on marketing so that the right people hear about them
  • From:

https://twitter.com/peterwildeford/status/1561438183677722625

  • Prizes take a long time to pay out