RE: Hive Whales Are Our VCs! .:. Late Night Blogging
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All these time I thought DHF would work like VCs but I am guessing many in other parts of the world aren't aware of how it works. This is why I've seen plenty comedic take on it haha.
IMO, a project should have an exact goal and also benefits to hive itself. Stakeholders must ensure that they reach that goal and also doing monthly audit.From what I've been seeing it's really less audit from others. There might be a buzz here and there but that's about it.
My approach might have not been lenient but I think when it comes to anything community funded like this, if they fail reaching a certain % of the goal, they need to return the money. The money could be used to fund other projects or initiatives. Hence creating a competitive environment and people would actually deliver.
The thing with audit was taken out to the surface many times, but it didn't move from the dead point... As you said, it is a buzz few days, and nothing else...
I like your idea about returning funds if the project doesn't deliver the product in a certain %... That would bring more accountability and responsibility, which is obviously that is missing at this point...
There has to be something that needs to be set a standard. I mean, in business and anything that's not your money, your sort of need a collateral. While on hive it might be reputation but still, that's not enough in my opinion. Reputation is fragile and there has to be something tangible that they're actually moved to actually do something :D