Saturday, June 25, 2016

Fundr: a Social Technology for Bankrupting Cathedral Media | Social Technology no. 1

Peter Thiel has pioneered a way to take down Cathedral media companies. His technique consists of bankrolling the lawsuits of people who have been victimized by mainstream media companies. Anyone who has ever been slandered by the left could potentially have a case against one of their media outlets. The effect is to suppress libel. 

WeSearchr is a company that crowdsources information on topics that could injure the mainstream media. Per its website:
"We post bounties on questions that drive public curiosity, and reward the people that deliver the answers. That's it.
WeSearchr has a select group of editors that we call "Askers" who watch the news cycle and figure out what people want to know.
If an Asker believes that there is enough interest in a question, they will create a Proposed Bounty to collect money to pay for the answer to the question.
Members of the public can browse the Bounties and donate money to fund a Bounty, as they might contribute to a campaign on any other crowdfunding site.
Once a Proposed Bounty reached its Minimum, it becomes an Active Bounty. The money can still rise, and the Asker will review any submitted Answers to the Bounty.
If the Asker feels that the Bounty has been successfully Answered, WeSearchr will review their choice of Answers.
If the Answer fulfills the terms of the Bounty, WeSearchr will release the information to the Asker and the Asker can publish the Answer in the outlet of their choice, or WeSearchr can help publish it."
An obvious possible social technology is to marry the two concepts into a single company. The board of Fundr surveys the public to determine what members of the Cathedral are the most hated, then a bounty is placed on the head of that member. If the minimum funding quota is met an offer to sue that person is made for anyone who can demonstrate a legitimate grievance against them. The offer stands forever. Payoffs from the lawsuit are split between the funders and the board.

Crowdsourcing could potentially take on more of these companies that a single billionaire if, and only if, the company can get enough billionaires as its crowd. Together they could pool their almost unlimited resources, making them completely unstoppable.

Categories: legal, potentially profitable, private sector, Cathedral media

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