Free Money Crowdfunding Experiment Peters Out

This may be a sign to the Silicon Valley titans who believe that there should be a minimum Universal Base Income.

A scheme (in the British sense) to provide one man a minimum income via crowdfunding ran out of steam in its third year (!) and is being abandoned.

The guaranteed income program, organized by the Groningen Foundation MIES (Society for Innovation of Economy and Society), “was designed to see how people’s lives were changed by not having to worry about earning an income.”

But, apparently, people grew tired to giving money away to someone else for no good (read, charitable?) reason.

http://www.dutchnews.nl/news/archives/2017/08/crowdfunding-minimum-income-scheme-runs-out-of-cash/

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in balance, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Funding Portals, Investments, Jobs, Legislative Intent, Small Business, VC, Venture Capital and tagged , , , , , , , , , , , , . Bookmark the permalink.

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