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Open Source Endowment – new funding source for open source maintainers

endowment.dev

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Re: Open Source Endowment – new funding source for open source maintainers

#51

Post by whit537 »

numbsafari wrote: post #44

Something I’ve been curious about for a while is why more universities don’t get involved in sponsoring critical projects. In theory it could provide an interesting non-academic path for students and professors and, as you’ve pointed out, the funding model of the U would make sense here. I’m curious… would you consider having a “faculty” of “tenured” maintainers who receive livable funding and support based on a hist…

I love this. Reminds me of MacArthur Foundation's genius grants as well. Linux Foundation has fellows, but it's a small % of budget.

Re: Open Source Endowment – new funding source for open source maintainers

#52

Post by verdverm »

dewey wrote: post #48
verdverm wrote: post #43

Earlier quoted context omitted.

> Can you point out some existing ones with traction? That's kind of the point, there are none. The question is why? If people cannot even click a button to support when it's right there... I don't think people coming out of the VC world are going to fix it, call me cynical if you like

You said: "There are many existing projects like this", directly followed by "That's kind of the point, there are none." when asked for an example. Which one is it? It's seems like a pretty thankless fundraising job but one where having connections to companies, banks and experience with distributing funds comes in handy. What's in it for a VC? I'd assume incoming deal flow and connections to new open source companie…

there are many existing, none with meaningful traction

it looks like there are no direct connections, they are investing, taking fees, and distributing the leftovers

Re: Open Source Endowment – new funding source for open source maintainers

#53

Post by mentalgear »

numbsafari wrote: post #44

Something I’ve been curious about for a while is why more universities don’t get involved in sponsoring critical projects. In theory it could provide an interesting non-academic path for students and professors and, as you’ve pointed out, the funding model of the U would make sense here. I’m curious… would you consider having a “faculty” of “tenured” maintainers who receive livable funding and support based on a hist…

This would very much make sense and generate direct real world products. However, I fear academia is in itself a very competitive space for resources that doesn't necessarily want to open up for outsiders.

Re: Open Source Endowment – new funding source for open source maintainers

#54

Post by kvinogradov »

verdverm wrote: post #32
dewey wrote: post #30

Earlier quoted context omitted.

Seems better like the current state...of there not being anything like that? Perfect is the enemy of good.

There are many existing projects like this, I'm not going to pick the one started by a former VC Ask if those have not changed things, why would a VC run thing make things better? The last 2 decades have shown us what VC centeredness has brought us

Not the former VC, but an active venture capitalist: https://kvinogradov.com. I earn money by investing in open source / AI / infra software startups, and I spend money by donating to nonprofit open source projects :-)

Also, it is not a VC who run things, but the team which consists of people with diverse backgrounds (founders/executives/devs x OSS/nonprofit) and the donor community (which everybody can join): https://endowment.dev/community/

Re: Open Source Endowment – new funding source for open source maintainers

#55

Post by verdverm »

kvinogradov wrote: post #49
verdverm wrote: post #29

Earlier quoted context omitted.

Running a non-profit with the mentality of SV, what could go wrong? Definitely something I will actively avoid after parent comment

What are your specific concerns? By the way, only 1 out of 6 core team members is based in SV.

SV is not a geographical location in the sense I'm using it

Taking capital, using it, taking fees, and then distributing leftovers... sounds like Trumponomics

Re: Open Source Endowment – new funding source for open source maintainers

#57

Post by whit537 »

verdverm wrote: post #50
brainzap wrote: post #41

Earlier quoted context omitted.

lets try something new

Putting capitalists in the middle doesn't seem new, more like another place they can extract a slice of the pie.

Let's back up: The way an endowment works is that donors donate money, which goes into a more-or-less permanent investment fund. The interest from the investment fund is then used to a) fund mission-aligned programs (in our case, OSS), b) stay ahead of inflation, and c) pay operating costs.

Where are you seeing capitalists "extract a slice of the pie" here?

Re: Open Source Endowment – new funding source for open source maintainers

#58

Post by verdverm »

kvinogradov wrote: post #54
verdverm wrote: post #32

Earlier quoted context omitted.

There are many existing projects like this, I'm not going to pick the one started by a former VC Ask if those have not changed things, why would a VC run thing make things better? The last 2 decades have shown us what VC centeredness has brought us

Not the former VC, but an active venture capitalist: https://kvinogradov.com . I earn money by investing in open source / AI / infra software startups, and I spend money by donating to nonprofit open source projects :-) Also, it is not a VC who run things, but the team which consists of people with diverse backgrounds (founders/executives/devs x OSS/nonprofit) and the donor community (which everybody can join): https…

It's the VC "class", similar to the Epstein Class, nowhere near as bad or vile, but have definitely been one of the primary reasons the wealth gap and inequality have risen and continue to rise

Re: Open Source Endowment – new funding source for open source maintainers

#59

Post by verdverm »

whit537 wrote: post #57
verdverm wrote: post #50

Earlier quoted context omitted.

Putting capitalists in the middle doesn't seem new, more like another place they can extract a slice of the pie.

Let's back up: The way an endowment works is that donors donate money, which goes into a more-or-less permanent investment fund. The interest from the investment fund is then used to a) fund mission-aligned programs (in our case, OSS), b) stay ahead of inflation, and c) pay operating costs. Where are you seeing capitalists "extract a slice of the pie" here?

The README on github

"pay operating costs" is one place non-profits often find fraud. Getting the money into the market between donors and builders, now you have to pay professional investors. You don't get to 7-8% returns without equities, what happens if the market tanks?

Why not build something super minimal that requires less management and operating costs? That doesn't have the market risk at the center of it all? That doesn't have more points for fraud and abuse?

Re: Open Source Endowment – new funding source for open source maintainers

#60

Post by shimman »

mentalgear wrote: post #53
numbsafari wrote: post #44

Something I’ve been curious about for a while is why more universities don’t get involved in sponsoring critical projects. In theory it could provide an interesting non-academic path for students and professors and, as you’ve pointed out, the funding model of the U would make sense here. I’m curious… would you consider having a “faculty” of “tenured” maintainers who receive livable funding and support based on a hist…

This would very much make sense and generate direct real world products. However, I fear academia is in itself a very competitive space for resources that doesn't necessarily want to open up for outsiders.

Well universities have no qualms about making private relationships to help subsidize private research. Let's not worry about problems that don't exist or are trivially solved.
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