I wonder if it would be worthwhile/legal to add a different mechanism for the significant majority of people who don’t qualify as accredited investors. I could “purchase” equity in exchange for the author’s commitment to counterfactually give the appropriate portion of any winnings to a stated charity of my choice.
Manifund (or someone else) might be able to buy the impact certificates on my behalf and act as my agent. Other mechanisms are possible but would require more trust.
We’ve implemented something to allow everyone to participate now! Non-accredited investors can still put money into Manifund, grow their portfolio by investing in impact certs, and ultimately donate any money in their account to charity. They just can’t withdraw. It works a lot like mana on Manifold, except that when you add money it counts as a tax-deductible donation.
You may want to note that the requirements for being an accredited investor are pretty significant:
https://www.sec.gov/education/capitalraising/building-blocks/accredited-investor
I wonder if it would be worthwhile/legal to add a different mechanism for the significant majority of people who don’t qualify as accredited investors. I could “purchase” equity in exchange for the author’s commitment to counterfactually give the appropriate portion of any winnings to a stated charity of my choice.
Manifund (or someone else) might be able to buy the impact certificates on my behalf and act as my agent. Other mechanisms are possible but would require more trust.
stay tuned 🙃....We’ve implemented something to allow everyone to participate now! Non-accredited investors can still put money into Manifund, grow their portfolio by investing in impact certs, and ultimately donate any money in their account to charity. They just can’t withdraw. It works a lot like mana on Manifold, except that when you add money it counts as a tax-deductible donation.