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Opensats is just marketing for the companies he invest in through Ten31.

Odell is a mouthpiece. Fuck all that noise.

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Mark Camper 1y ago

Any actively Ten31-funded (or other VC) entity which received grant from OpenSats out there?

I'm pretty sure it's one of the factors which pretty much disqualifies you from getting the grant. Respectively, the funds are targeted for not profit seeking projects (unlike the standard VC investments).

- https://ten31.vc/home#portfolio

- https://opensats.org/blog/2023-year-in-review

I agree that people with lot of influence across community media, VCs, Debs, plebs are centralizing factors, and you should have increased skepticism and scrutiny against those. Especially if they start monopolizing their influence over whatever part of the ecosystem.

But this seems like baseless shitting over all the OpenSats work and contributors - Gigi, and dozens of others, who are donating their time for no money... 🤷‍♂️

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Discussion

ShiShi21m 1y ago

It's great marketing for that squad,

Odell can be a VC & "Pleb" at the same time.

NVK sits on the board of OpenSats & is funded by Ten31.

Mark Camper 1y ago

Yes, nothing wrong about the first two. They would be stupid to play it otherwise and not leverage their media platforms.

NVK point - Still, no Ten31 company is getting the OpenSats grants.

So the concern is that few votes on OpenSats might have incentive against funding opensource projects potentially competing with Ten31 companies? (Seedsigner)

- I take that. But there are measures (Odell and NVK are 2/9 board members) and community and donators pressure on the whole Board to minimize the risk of them playing favorites

I would not be surprised if the two retire from the Board at some point, and the criticism will of their influence won't stop... I guess the open market for donations is the only solution.

ShiShi21m 1y ago

Open Sats grants are chosen by people funded by Odell in one fashion or another,

This can influence the strategic placement of funding or not funding their competitors.

Silberengel 1y ago

This seems to be a different argument from the one you made in the OP. Got wittled down to more accuracy.

ShiShi21m 1y ago

I've made the same point as semisol 100x at this point, welcome this must be your first time here.

nicnym 1y ago

Nobody in Bitcoin does any work “for free” - any positive contributions increase the purchasing power of their existing stack. Even pushing engagement on nostr is monetized by attracting users who at some percentage will adopt bitcoin for capital storage, increasing the value of the network as a whole.