I am not excited about venture capitalists’ interest. To me this is a bit concerning because who or what organizations is the money coming from and what influence is that money buying over the platform?
I would prefer to see INX tokenization for some percentage of future profits but no voting rights over the platform or the DAO. If the venture capital is structured in this capacity that would make me feel better but at the end of the day that is usually not the case, they throw money to buy influence over the platform, the concept then becomes corrupted just like duckduckgo or chatGPT with substantial Microsoft investment.
Also 1-20% revenue is not what the community envisioned for PRE… Instead we envisioned PRE being ABSOLUTELY INTEGRAL for advertising and so many other functions for the platform. That currently doesn’t seem like the case. If this project loses the main thesis it will turn into Planetwatch or other failed community projects. Another will take its place and eventually succeed. DO NOT ALLOW THE ORIGINAL THESIS TO BE CORRUPTED!
Hi this is a small snippet of what Tim once mentioned regarding VC funds,The rationale will not change but money is needed for the continued development of the roadmap.
Without VC money, it would take many years. The cash flow is insufficient to support a good dev team.
it simply needs VC money to execute on its road map in a reasonable period of time.
if you have been following the weekly updates you can see that Presearch is making a lot more partnerships for traffic monetization and the most recent one was Ebay, through Presearch results and part of that revenue will be used to buy tokens to replenish supply to continue with the payment. node runners etc.
General benefits! , it is proposed that 20% of the income can be allocated to the benefits of token holders, node runners, etc. and also marketing will influence this point to increase the number of searches on the platform
What is the structure of the VC investments? How much influence voting rights if any are they getting for their investment?
WHO and what organizations are throwing money into presearch?
I believe a 1-20% bone as the cost of business is NOT better than integral utilities built out for PRE. The best driver of growth and adoption of the platform lies in its potential to employ millions of entrepreneurs, innovators, and regular people around the world due to utilities built into the platform.
If the platform is built out in a way that anyone and everyone can participate in the profitability we change the game forever and we all win! The project becomes the standard because those millions earning a living will bring millions and billions more every other search provider will have have to adapt to compete for business.
However, what I am starting to see which I hope I am wrong is a takeover of the original vision for the project to instead gain control the profits. If all users had the ability to profit and build businesses off of the utilities that could have been developed that would provide the most value and interest in the platform for all instead it seems they can only get a fraction of the 1-20% bone that will be thrown to them as a “cost of business.” If the latter is the case this project will fail in the long run. Because another that devises to build so that all can profit will eventually win out. Presearch can still be that beacon platform but the roadmap and Tim’s comments I don’t think are reflecting what I believe is the greatest opportunity and value proposition for the project to be the worlds #1 goto search provider. I sincerely hope that changes.
The utilities should be so enticing that VC, DAO etc should want to hold PRE and be the biggest partner and user of those utilities.
I don’t have the technical details on VC there Tim could give a full explanation that percentage was set in such a way that the rewards could be adjusted to what we have today I can’t tell you if that will change in the future or not there are a lot of moving parts but also what they want is that there is a fair reward And that involves many factors, of course the project will need capital to be able to build the developments towards a general decentralization, pay the developers, etc. it’s just a personal insight i can give you, i don’t know if tim is here too, could you please raise it as a question in the weekly updates
What control rights or board seats will the venture capital firm have on the DAO or LLC?
Are there any restrictions on Presearch’s ability to raise additional funding?
What is the venture capital firm’s exit strategy?
Are there any protective provisions in place to safeguard the Presearch’s interests, intellectual property rights, and ownership?
How does the venture capital firm handle changes in management or leadership or board seats?
What rights will Presearch have in case of a potential takeover?
Are there any provisions to prevent the venture capital firm(s) from diluting Presearch’s ownership or diluting PRE tokens or value?
Are there any non-compete clauses or restrictions on Presearch’s future business activities?
I ask these questions and voice to the community and team because I care and want to see this idea and vision for the project change search forever.
Presearch must stick to and execute a bold vision that will force competitors to adopt or die. We can’t play by their rules and make moderate enhancements and expect to be successful.
Hello. I think it’s actually good for the project that people have different management styles and ideas. It’s ok. The project was moving slowly for some time. It clearly needs financial stability and more people using it. Then ideas discussed In the forum can be implemented much more smoothly.
I get funding a bigger dev, legal, and marketing team and scaling faster. My fear is the roadmap focus is not currently on the mechanisms that will change the game to be the innovative pacing threat to the incumbents. If those concepts are delayed someone else will become that innovative startup and gain the marketshare and adoption from the ripe market who are itching to find a better search alternative that puts their users interests first and creates a fair level playing field for all.
This was never in the initial Presearch Whitepaper. I’m beginning to wonder if you operate any nodes. “Bag holders” generally look for the price to eventually go up so they can sell and take profits. There was never anything said about millions of people being able to make a living off utility of the PRE token. When a token has utility the price will go up …and there is your profit. The original paper stated 30% of revenue would go towards rewards (searches and other) and 20% would be for node runners leaving 10% for “searches and other”. Everything can change of course, but node operators are the backbone of Presearch. Most pay in fiat monthly and are basically investing a dollar amount monthly to the Presearch concept and goals. To be the number #1 goto search provider …you mainly just need a great search engine with advantages like privacy and non biased, non censored results …nothing to do with creating millions of “jobs” for would be leeches. Devs in the community can contribute things like “local” results and earn PRE thus getting “paid” to make Presearch better. Creating paychecks for millions was simply never part of the vision as I recall.
I am a node runner - I pay out fiat every month for services I also run multiple self-hosted nodes. I would guess I am well above the average presearcher in running nodes but that is not the point.
I am also not a leech, I want the best for Presearch and I think that means Presearch has to break the current system by changing the game. How do you compete with incumbents like Bing and Google? Even if you get hundreds of millions in VC capital you will still be outspent and out devd by the incumbents.
You have to change the operating concept that will draw the influencers, users, entrepreneurs, innovators, and advertisers from the incumbents. You won’t achieve that if you play by their rules. You can however beat them by giving better value and opportunities to more people not centralizing power solely into the INC or DAO. Everyone that is participating in Presearch would win, node runners especially because the nodes become more valuable and more integral to a growing highly used platform. I envision node runners making a handsome profit because they will be that important and there will be enough income and growth to pay them for their value to the platform. We node runners could also participate in other income generating models depending on our access and skills or where we choose to divert income revenue back into other parts of the platform. It doesn’t have to be a 1 trick pony any great business has multiple product lines and in this case I think that means both innovative value propositions for users and multiple opportunities for value creation.
If you could make crypto income as a node runner, and an ad seller, and a community owner, and an AI architect, and… and… and… sounds much better than just node staking and search staking. no other crytpo project or TRAD search provider is doing this and that is what makes it different and relevant.
I also don’t conform to this idea that PRE rewards should decrease to node runners when the price of pre increases. Node runners should be paid based on the sustainability of the platform. I concede it to be necessary at this time to have that construct in place but it doesn’t have to remain that way. If the project has plenty of recurring PRE income going back into the treasury the DAO and/or PRE hodlers could/should vote to make the node pool some percentage of the total PRE income. Which eventually would mean price doesn’t have to be a factor. And if price and minimum stake was sufficiently high enough it would limit most new node runners which would benefit early node runners who continue to run nodes.
What I mean is if nodes increase to 8k min stake and PRE price increases to $1 current node runners would be sitting on a decent appreciated asset. And if we voted to make the pool some percentage of the vast PRE income and not tied to a dollar amount our nodes could provide significant cash flow that could pay for better services and continue to compound and scale with the network. New comers later in the adoption curve could also participate but the entry cost would be much higher than ours!
I’m a node runner too since the end of 2021. I started small, but invested a fair amount of $. I have to pay more then I earn at the moment. I host my nodes in a data center. I’m a believer in decentralization, web3, and the whole crypto space. So I think it’s worth it, but I’m a bit concerned after I attended the AMA…