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this post was submitted on 23 Jul 2023
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Technology
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A savvy board would get a 10% cut on each transaction, count me in!
I mean they would need to be paid, but idk about a percentage. Mostly just to fairly compensate them for the time spent vetting deals.
What's savvy about getting paid just for your time? You need to get paid for expertise, opportunities, networking... that's at least 10%, since a non-profit wouldn't have preference shares.
I'm leery about a percentage just because I perceive a conflict of interest. Overall compensation of 10% might be about right, but tying actual compensation to the cost of stuff that is bought creates a perverse incentive to overspend on things. That's money donated for the betterment of humanity, not so I can have a 3 acre swimming pool.
But IDK maybe I'm looking at it wrong.
I think you are looking at it kind of wrong, in that: with a savvy board, the first savvy thing they would do, would be to guarantee their own self-benefit, going head first into a conflict of interest... meaning you can't have a project like that driven by a savvy board, instead you need an altruistic, idealistic, etc. board... but then, a non-savvy board, would be much likely to just squander the money, or get swindled out of it, so... I don't think a project like that would ever work as expected.
Fair enough. It's a two-edged sword.