pull down to refresh

484 sats \ 25 comments \ @jeff 8 Jun econ freebie

This is a pinned post, starting 2024Q2, we'll rotate it when it gets busy.

Intent is to use the comments as kindof sub-topics, so that ~econ doesn't spam everybody's main feed.

So, do not zap this post. But do zap comments. :)

view all related items

48.2k sats \ 9 replies \ @jeff OP 8 Jun freebie

🙏 Please Donate for June 2024

In prior months, I set an arbitrary fund raising goal.

New plan/experiment/goal to achieve sustainability (break-even):

Donations will directly reduce the posting fee, such that the forecast is donations + posting fees - monthly rent = 0. The "forecast" will just use the prior month's post-count.

Zaps to this comment, will count towards donations for June. Please make a comment in a reply if you contribute something material.

I expect this to still lose money in the short term, even after post-revenue, as posting fees climb and post count drops. We'll update the policy, if we find equilibrium.

If it works...

a) donations should shrink over time, posting fee will predictably drop over time, and content should go up. Unclear what will happen to quality. Fingers crossed. b) donors are directly, kindof, buying more content for the month ahead (lower fees = more posts/content, see analysis below). c) frequent-posters who stack-more-by-posting-more can optionally do some math to see if it's rational for them to donate.

Example:

Assume there is 60K sats from donations today. Given last month, that there were 380 posts, I would say "Assuming 380 posts in ~June, I'd have to charge 40K / 380 = 105 sats per post, to break even.

Example 2:

If nobody donates today, then the fee would rise to 263 today (100K / 380), and then probably rise again the month after, because post count would likely drop again.

It's kindof fun, to run a mini-economic policy update based on inputs like the above.

Accounting Notes

Crowd Funded Contributions for May 2024 - thank-you!

@Undisciplined - 25K x 90% = 22.5K* @grayruby - 2K x 90% = 1.8K* @StillStackinAfterAllTheseYears - 1K x 90% = 900* @siggy47 and anons = 7.3K x 90% = 6.6K*

Fundraising Target was 55K, so considering this a deficit, I'll pick up the difference. Treasury was 41K at end of May. I guess this means I should be drawing on the treasury. Seems fair. TBD on the Treasury / Cashflow update; easy to sort that out. Import thing is to capture notes above.

Short Term Priorities & Goals

Break even with crowdfunding
Break even without crowdfunding
Build up treasury
Run incentive backed games
Build Tooling

Operational Metrics / Quick & Dirty Fee Change Analysis

All-Time 965.8k stacked \ 102.6k revenue \ 1.1m spent \ 2366 posts \ 9742 comments

~ 4 weeks in March @ 10 sats-per-post: 215.7k stacked \ 19k revenue \ 247.3k spent \ 588 posts \ 1755 comments

April (proper): 26.8k revenue \ 277.9k stacked \ 322k spent \ 605 posts \ 2303 comments

~4 weeks in April @ 21 sats-per-post: 203.9k stacked \ 24.6k revenue \ 239.3k spent \ 537 posts \ 2151 comments

May (proper): 27.8k revenue \ 149.5k stacked \ 194.8k spent \ 380 posts \ 2095 comments

~4 weeks in May@ 100 sats-per-post: 105.3k stacked \ 26k revenue \ 144.6k spent \ 326 posts \ 1919 comments

People consider the fee difference before posting. 5x the fee, didn't 5x the revenue.

Territory Change Log

2024/05/04 - Raise the posting fee to 100. Apologies for not being transparent about this. In hindsight, I suppose I should have alerted folks. Will do better on this front. Maybe thats a feature @k00b could add. Warn the users if the posting fee has changed since the last time they posted.

Owner's Pledge

If this territory ever runs a cumulative net profit, I'll find a way to do right by the earliest contributors. There is no guarantee of that scenario. Most likely, it'll take the form of "pay-it-forward"-style BTC-adoption/effort/charity.

Disclaimer

Do not donate with the expectation of receiving a share of future profits. This is not a security offering.

Prior Updates

May 2024 #526847
April 2024 #493332
March 2024 #448054

88 sats \ 1 reply \ @siggy47 8 Jun

Good plan. I'm sure you can tell I love this territory. Here's 5k for June.

54 sats \ 0 replies \ @jeff OP 8 Jun

Indeed @siggy47, I'm glad you like it! Thank you for the support!

87 sats \ 1 reply \ @grayruby 8 Jun

2k again for your fine wares.

50 sats \ 0 replies \ @jeff OP 8 Jun

Thank you! Will keep the wares flowing :)

87 sats \ 1 reply \ @StillStackinAfterAllTheseYears 8 Jun

Another 1K in this month. I like your plan at first glance.

21 sats \ 0 replies \ @jeff OP 8 Jun

Thanks; glad to hear you like the plan!

88 sats \ 2 replies \ @Undisciplined 8 Jun

Very cool idea. I also love endogenizing as many things as possible.

Since you were in deficit last month, I bumped up to 30k this month.

42 sats \ 1 reply \ @jeff OP 8 Jun

Thank you kindly @Undisciplined! Really appreciate the support. Also, in time, I look forward to figuring out the future of the territory with you!

0 sats \ 0 replies \ @Undisciplined 8 Jun

Indeed. Exciting days ahead!

38.1k sats \ 8 replies \ @jeff OP 9 Jul

🙏 Please Donate for July 2024

In line with the plan to achieve sustainability (break-even), donations will directly reduce the posting fee, such that donations + forecasted posting fees - monthly rent = 0. The "forecast" will just use the prior month's post-count.

The next Fee Operation Management Committee will announce new posting fees according to the following schedule:

Block 851691 ~2024/07/11 13h00 UTC
Block 856011 ~2024/08/10 13h00 UTC
Block 860330 ~2024/09/09 13h00 UTC

See the prior month's post for more details. #566281

Accounting Notes

June Crowd Funding

Crowd Funded Contributions for June 2024 - thank-you!

@Undisciplined - 30K @siggy47 - 5K @grayruby - 2K @StillSTackinAfterAllTheseYear - 1K @anon - 10.2K

Total Crowd Funding = 48.2K

June Revenue

37K according to the operational stats.

Note that this is the first month without a rake being taken off of the donations.

Posting Notes

of Actual Posts in June = 331

of Forecasted Posts Posts in June = 380

of Forecasted Posts in July = 331

Shortfall of ~49 posts vs forecast. We probably saw posts drop off a bit due to the higher cost.

Treasury was 41K at end of May. I haven't yet decided if I want-to/should-be dipping into the treasury to cover shortfalls or not. Goes without saying, I'm cover the balance each month unless the Treasury does. I'm leaning towards a half-life concept applied to the Treasury, where up to half of the existing treasury can be spent in any given month. I don't know why, but I think I like the idea of a capped burn rate and setting a precedence while I'm the only person with spending-authority, so that hopefully when there are more, the entire treasury can't be spent in any given month. Feedback welcome. I still need to do that cumulative YTD analysis.

Short Term Priorities & Goals

These are unchanged.

Break even with crowdfunding
Break even without crowdfunding
Build up treasury
Run incentive backed games
Build Tooling

Operational Metrics / Quick & Dirty Fee Change Analysis

All-Time

965.8k stacked \ 102.6k revenue \ 1.1m spent \ 2366 posts \ 9742 comments

~ 4 weeks in March @ 10 sats-per-post: 215.7k stacked \ 19k revenue \ 247.3k spent \ 588 posts \ 1755 comments

April (proper): 26.8k revenue \ 277.9k stacked \ 322k spent \ 605 posts \ 2303 comments

~4 weeks in April @ 21 sats-per-post: 203.9k stacked \ 24.6k revenue \ 239.3k spent \ 537 posts \ 2151 comments

May (proper): 27.8k revenue \ 149.5k stacked \ 194.8k spent \ 380 posts \ 2095 comments

~4 weeks in May @ 100 sats-per-post: 105.3k stacked \ 26k revenue \ 144.6k spent \ 326 posts \ 1919 comments

June (proper): 253.4k stacked \ 36.8k revenue \ 327.1k spent \ 331 posts \ 2297 comments

~4 weeks in June @ 136 sats-per-post: 260.4k stacked \ 35.5k revenue \ 332.4k spent \ 327 posts \ 2551 comments

Territory Change Log

2024/06/05 - Lowered the posting fee to 136. See #568328

Owner's Pledge

Disclaimer

Do not donate with the expectation of receiving a share of future profits. This is not a security offering.

Prior Updates

June 2024 #566281 May 2024 #526847 April 2024 #493332 March 2024 #448054

64 sats \ 1 reply \ @siggy47 9 Jul

Here's my 5k. Maybe you should make another post. You tagged me and I still had trouble viewing this. Perhaps I'm just lame.

54 sats \ 0 replies \ @jeff OP 10 Jul

Thanks @siggy47

I wish there was a way to toggle off exposing a post to the frontpage. Doubt there is another, use case other than this though.

54 sats \ 1 reply \ @grayruby 9 Jul

Sent 3k for July.

20 sats \ 0 replies \ @jeff OP 10 Jul

Thank you so much @grayruby!

54 sats \ 1 reply \ @Undisciplined 9 Jul

There's been a site-wide downturn in activity, so it may not be related to the higher posting fee. Of course, posting fees have risen site-wide, so maybe that's exactly the right attribution. Still, I think we may just be seeing a seasonal effect, as activity dipped last summer, too.

I'll do 25k this month.

21 sats \ 0 replies \ @jeff OP 10 Jul

Somebody should index the posting costs somehow.

Thank you for your continued support @Undisciplined!

0 sats \ 0 replies \ @jeff OP 9 Jul

lol at # of ... getting rendered as a title. Whoops. Only realized after edit window expired.

0 sats \ 0 replies \ @jeff OP 9 Jul

Kindof sucks that I know the visibility will be much lower on this post, compared to past donations. I'd expect anon donations to be way lower this month. The nature of the tagging, also makes it as if I'm bugging the past donors, and virtually never asking new contributors.

42 sats \ 4 replies \ @jeff OP 10 Jun

June 2024 Fee Update

Given 48.2K in (pre-SN-fee?) donations, and rent at 100K, and 380 posts in May, the "forecasted revenue" for June required to break even would translate to 136 sats per post.

The new fee will take effect immediately.

0 sats \ 3 replies \ @Undisciplined 10 Jun

Do you have control over comment fees?

5021 sats \ 2 replies \ @jeff OP 14 Jun

No sir.

I don't think comment fees go to the Territory owner.

10 sats \ 0 replies \ @siggy47 9 Jul

That was mine.😀 I didn't know where to zap.

0 sats \ 0 replies \ @Undisciplined 14 Jun

I hope that lever will become available at some point.

~econ seems to have a lot of comments per post and comments probably have higher returns than posts, on average.

0 sats \ 0 replies \ @jeff OP 11 Jul

July 2024 Fee update

#604610