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blog: Don Marti

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Smart futures contracts on software issues talk, and bullshit walks?

14 July 2017

Previously: Benkler’s Tripod, transactions from a future software market, more transactions from a future softwware market

Owning "equity" in an outcome

John Robb: Revisiting Open Source Ventures:

Given this, it appears that an open source venture (a company that can scale to millions of worker/owners creating a new economic ecosystem) that builds massive human curated databases and decentralizes the processing load of training these AIs could become extremely competitive.

But what if the economic ecosystem could exist without the venture? Instead of trying to build a virtual company with millions of workers/owners, build a market economy with millions of participants in tens of thousands of projects and tasks? All of this stuff scales technically much better than it scales organizationally—you could still be part of a large organization or movement while only participating directly on a small set of issues at any one time. Instead of holding equity in a large organization with all its political risk, you could hold a portfolio of positions in areas where you have enough knowledge to be comfortable.

Robb's opportunity is in training AIs, not in writing code. The "oracle" for resolving AI-training or dataset-building contracts would have to be different, but the futures market could be the same.

The cheating project problem

Why would you invest in a futures contract on bug outcomes when the project maintainer controls the bug tracker?

And what about employees who are incentivized from both sides: paid to fix a bug but able to buy futures contracts (anonymously) that will let them make more on the market by leaving it open?

In order for the market to function, the total reputation of the project and contributors must be high enough that outside participants believe that developers are more motivated to maintain that reputation than to "take a dive" on a bug.

That implies that there is some kind of relationship between the total "reputation capital" of a project and the maximum market value of all the futures contracts on it.

Open source metrics

To put that another way, there must be some relationship between the market value of futures contracts on a project and the maximum reputation value of the project. So that could be a proxy for a difficult-to-measure concept such as "open source health."

Open source journalism

Hey, tickers to put into stories! Sparklines! All the charts and stuff that finance and sports reporters can build stories around!