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Blended Technologies » Blog Archive » Product Idea - Community/User Owned Digg/Reddit

Product Idea - Community/User Owned Digg/Reddit

Problem:
People claim social news submitting sites are unfair. The news we all see every day is too important to leave in the hands of anyone but us. It’s not a truly democratic news submission website if we don’t own it.

A proposal:

I’d like to create a web app that’s a community/user owned Digg/Reddit. So not only are stories selected democraticallly but the whole site is run democratically. In fact even the profits would be split up between owners (users).

We’d need to develop a voting system to make decisions and such, (and of course a business model for “us”). but it would be 100% fair and decided by the owners (users).

If anyone is interested in working with me on this, just drop me an email or post a comment below.

Remember there is only freedom of the press for those who own a press
(That would be our motto, but of course we’d all vote on that)

del.icio.us |  Digg |  FURL |  Yahoo! My Web 2.0 |  Reddit

9 Responses to “Product Idea - Community/User Owned Digg/Reddit”

  1. Adam K Says:

    Im actually 90% finished one…very objective and transparent

  2. Greg - CEO/Founder Says:

    Adam,

    Is it really going to be user owned? Will all the users split the profit equally? Let me know…

  3. crispynews Says:

    Hi.
    You know, the infrastructure already exists. If you want, go for it. You can even split the revenue w/ all the community members. There are folks starting new sites all the time. You guys might want to check it out!

    http://www.crispynews.com

  4. Greg - CEO/Founder Says:

    Crispynews,

    That’s a really great idea. That would at least be a starting point for what I’m talking about. Why just a starting point? Because news is too important to risk you guys being bought by Yahoo or Digg someday and then censoring us all over again ;-)

  5. crispynews Says:

    hahaha.

    hey. I hear ya. :)

    cheers to user controlled news.

  6. Dave P Says:

    This was the basic idea behind www.kuro5hin.org, but I’ll leave it up to you to just how successful that site was.

  7. Greg - CEO/Founder Says:

    Dave,

    I just looked a Kuro5hin.org. From what I can tell they are community and user oriented but the users don’t control the site perse and make decisions about the direction of the site. I also don’t think they share in the profit (if any). That’s what I envision, users controlling everything.

  8. Steven Golden Says:

    In many ways, the in-game economy is similar to a real world economy - goods and services are traded to mutual advantage and are mediated in currencies(gold,platinum,credit,etc.).

    An online broker, who goes by the screen name Rolala, was not a fan of online games until his 15-year-old son became interested in Final Fantasy XI(FFXI). He then noticed that a large number of gils(currencies used in FFXI) were for sale on eBay.

    “I started hearing about players leaving the game who were selling their assets at cheap prices,” he said, “so I figured, buy low, sell high.”

    But Rolala found his moneymaking options in FFXI “very limited”. He switched to World of Warcraft,the world’s largest MMORPG. There, he has leveraged his real-life experience into an online business. He converts his game profits into real money on sites like ebay, cheap wow gold ,world of warcraft gold,etc. Earnings can be considerable. He said he was on track to earn about $120,000 in real money in his first year in this business.

    Rolala’s business is just one example of how increasingly popular online role-playing games have created a shadow economy in which the lines between the real world and the virtual world are getting blurred.

    Edward Castronova, an economics professor at Indiana University who has written a book on the subject, calculated that if you took the real dollars spent within “EverQuest “as an index, its game world, called Norrath, would be the 77th richest nation on the planet, while annual player earnings surpass those of citizens of Bulgaria, India or China.

    Go to GameUSD, an exchange-rate calculator for the virtual worlds, and do a search for the latest rates of virtual currencies against the U.S. dollar, and let your jaw drop open. The rates of some virtual world currencies are even better than that of the Iraqi Dinar! For instance, here is the exchange rate of several popular virtual currencies: Final Fantacy XI Gil ($23.89/1M), Lineage 2 adena ($2.80/1M), Everquest Platinum ($0.24/1K), Everquest 2 Gold ($0.017/gold), WOW Gold ( World of Warcraft Gold ) ($0.178/gold), Star Wars Galaxies Credit ($0.50/1M), Guild Wars Gold ($0.07/1K), Second Life Linden ($3.14/1K), etc.

    Right now, this business is one of the most hotly debated issues on the internet. Many game companies such as Blizzard who run World of Warcraft discourage profit from in-game properties, though none have found a way to stop it.

    Sony Online Entertainment, on the other hand, encourages the practice (albeit within the confines of their own “Station Exchange”, their own forum for the sale of in-game properties). It recently announced the first month’s figures from “Station Exchange”. According to SOE, over 45,000 characters from “EverQuest 2″ have been active on the exchange and have spent over $180,000 USD in one month, half of which have been spent on in-game gold and platinum.

    In terms of the law’s concern, another issue is, who owns the virtual money? Many virtual world designers maintain that anything created in the world belong to the company. They refuse to recognise the rights of their players in the virtual property for fear of attracting liability for its maintenance or security.

    But will this work in the long term? Players spend considerable time and/or money acquiring such assets. In many cases they are the creation of the player and even the intellectual property ownership is questionable. “As we spend more time in these worlds, it’s not enough for companies to say that ‘we own everything and we can turn it off at any time,’” said a gamer. “The question may soon be should we have recourse against a game company for obliterating virtual assets?”

    With the rapid growth of virtual currency exchange market, should people accord virtual property the same protection as property in the real world?

  9. Kyle Says:

    I am working on a site called MoNation.us, it is planning a user owned community with the goal of developing it’s own currency. Currently it is in development and looking for other interested members to embrace the idea. It is being formed under co-operative laws. Please email if anyone would like to discuss this further, we badly need a Director of IT…it will be a paid postion.

    kyleglobal@gmail.com