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So people get to reserve for pledges already?!??!
Funders havent been asked yet have they?
Doubt it matters to me as i doubt anyone would take my name.
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people may not have reserved the same username that they have on here and a lot of people tend to use different email addresses for their PayPal... so matching things up tends to not always work.
True. In fact, I'm probably guilty of this too, so I've perhaps skewed the figures myself. Whoops!
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So people get to reserve for pledges already?!??!
Funders havent been asked yet have they?
Doubt it matters to me as i doubt anyone would take my name.
When I receive the investment money I will ask the investors on here for usernames.
Investors take priority, I said very early in this thread that those investing above some threshold would effectively queue jump and get first dibs. Not that I foresee any naming clashes... unless someone has gone and purchased Velocio before me.
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Velocity Boy?
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sends email requesting name
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What we need now isn't something that gives a monetary return, it's patronage... donations. We threw up a basic page here to process it: http://signup.microcosm.app/ but the essence is that we'll reserve a username on every site that ever runs on Microcosm in return for your help whilst we get through the next month or two whilst the due diligence and then clearing of the investment funds happens.
Quoting for anyone else that hasn't got around to sorting it out yet.
Maybe the link could be added to the first post to make things easier.
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We are :)
The due diligence is still ongoing. I fielded a couple of calls late on Friday about IP ownership.
Some concern over the way Seedrs want to do the equity. I am unclear and will speak to them Monday, but they mentioned that the lowest possible investible amount is £10 and that the shares have to be divisible into that.
They mentioned that 17 shares make £10, but my math seems to indicate that this is based on the option pool which includes Matt and future hires is being counted post-funding, which would dilute you guys... my investors. So now it's me holding things up as I want to double-check that the math is correct, and that they are doing it with the option pool being pre-funding so you aren't being diluted (at least, at this point).
I guess this is what the back and forth is all about.
Matt started last week, and we've already gone through architecture, plans for San Francisco (our short trip to figure it out and scout for leads for possible large investors in a year's time). We've also got the internals of the company in shape, and done the boring stuff like make sure any equipment he needs is ordered (should be here Monday).
Finally we have a possible developer/volunteer coming in Monday so we can see if his ambitions align with what we need. He's a forumenger and looking for experience in startups and to learn more too, we're a startup looking for all the help we can get... so it looks like it might work out.
So that's the first 3 working days of this year. Pretty productive... but any day that we aren't laying down code or testing an assumption still feels like a day wasted, so I can't wait to get the money in the bank and to witness the product emerge. I do like the fact that nothing can work fast enough for me though... it's quite a driving thing.
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Quoting for anyone else that hasn't got around to sorting it out yet.
Maybe the link could be added to the first post to make things easier.
A very fine suggestion... so I added this bit:
START OF UPDATE (early Jan)
We're barely keeping the lights on today and are begging support over at http://signup.microcosm.app/ for which we will reserve your username on the new platform.
That said, in late November we raised a £50k investment round from forum members via Seedrs.com . The due diligence is taking forever (hence our struggle right now), but once we receive the money we will be able to work on the product (rather than begging for money).
Matt (blueprints on here) started on the 2nd January, so we have made our technical hire. We also are speaking to a potential volunteer for an extra pair of hands.
Additionally the office is set up, and we are running open hours, so feel free to visit us if you want to hear what we're working on.
END OF UPDATE.
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Haha! I actually aimed that at our great leader, http://external.ak.fbcdn.net/safe_image.php?d=AQDQd0VPUi-Bpu5L&w=50&h=50&url=http%3A%2F%2Fupload.wikimedia.org%2Fwikipedia%2Fcommons%2Fthumb%2F9%2F94%2FMao.jpg%2F720px-Mao.jpg&crop&fallback=hub_person&prefix=q but all the comments appeared after i posted
But you as well!
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Turns out I was right with regards to the option pool being counted post-funding... should have been pre-funding, and that's now being corrected.
We're just waiting on Companies House to process a correction to a filing and then we should be there and able to sign the term sheet... any day now (I bet I keep saying that for the next week or two).
Also today, 2 became 3. silawrenc from LFGSS is going to join us from the 11th Feb as a volunteer/intern.
He's got some knowledge of C and HTML, but that's mostly non-web based and we're going to throw him into the deep-end and give him a learning environment whilst we get an extra pair of hands to help with the development. It seems to suit us both well, so looks like a good thing to do.
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So when can we come have coffee DK?
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About
Crowdfunding the creation of the next version of LFGSS
Posted by
@Velocio
I have no idea.
This would be an interesting thing to find out... I may take a look today. But I couldn't give a definitive answer, just an indicative one as people may not have reserved the same username that they have on here and a lot of people tend to use different email addresses for their PayPal... so matching things up tends to not always work.