How does a For-Profit Business Become Involved?
Agami Company is a For-Profit company that plans to create a significant impact by using an “Effective Altruism” model within our P&L management & our Royalty System.
We’re a fully funded luxury product company that is integrating Web3 Technology into our products. Within our Smart Contracts, 5% of every sale will go to organizations that are targeting big problems that are often overlooked. Even more so, Our Smart Contracts will include 5% of every resale going to underserved problems, in perpetuity.
Example:
1.) A Luxury Item is sold for $500. 5% of the initial sale goes to a select non-profit using Web3/Blockchain technology ($25)
2.) The Luxury Item is later resold for $1000. 5% of the resale goes to a select non-profit using Web3/Blockchain technology ($100)
3.) With our goal of selling 50,000 units of luxury items and 10% of those items resold the following year (5,000 units) for a 100% markup ($1,000 off the original price), that’ll be $250,000 to go to organizations targeting underserved issues. for the year.
We’re looking to double this outcome year over year with a 5-year goal of $4m goal to go to underserved issues through resales alone.
If you have insight or feedback on the idea as well, we’d love to hear all points of view.
Cheers,
Patrick Skinner
patrick@agamico.com
I’d recommend looking up the FTX foundation where I believe 1% of FTX sales go to.
But in short:
Work out what kind of cause areas you want to work on.
How do you value current lives compared to future ones?
How do you value animal lives compared to human ones
Are there certain causes that you’ll need to support for you customer base?
Find effective orgs in those places
Global health → look at GiveWell’s recommendations
Perhaps you want this process to be ongoing
Can you build a way for people to vote which org the money goes to?
Donate the money to those orgs.
Hey Nathan,
Interesting questions. Personally, I would answer like this:
1.
-1. This is a question I’ve really been pondering for some time. I’m a former combat medic and mass casualty coordinator, so I’ve seen families on the worst day of their life. Part of me has a hard time overlooking the lives of today in comparison to the lives of tomorrow. Though, I know that focusing on a sustainable structure for the lives of tomorrow will have a significantly larger impact on humanity’s future.
-2. I value them equally.
-3. To some degree, yes. But, the intention is to educate them on the philosophy of Effective Altruism through our efforts.
2. Thanks for the recommendation on this point.
3. Yes, that’s actually part of our customer journey during the buyer experience. This will later get expanded into the reseller market, as well.
4. By using blockchain technology, it actually won’t be up to us. As soon as the purchase has been made, or the product has been resold, the blockchain takes over and distributes the money according to the Smart Contracts dictated parameters. The parameters, also, cannot be modified after the first purchase has been made. Therefore, as long as the marketplace platform and the blockchain exists, the distributions towards selected non-profits will continue in perpetuity.
I’d check with Giving What We Can or One for the World, to see if you can take the giving pledge as a company.