Philip Rosedale's New Project: A Site Where You Keep a Public Promise to Philip Rosedale (or Pay Philip Rosedale)

IPromisePhilip.com, as the URL name suggests, is a new site that's a mini project of Second Life co-founder Philip Rosedale, in which you make a public promise to Philip, and put up a certain amount of money, as collateral. So for example, someone named Cyan Banister has promised to lose 21 pounds by July 2nd (all her post-pregnancy weight), and she's put up $1000 dollars, which she loses to Philip if she doesn't reach her goal. Like a lot of Philip's ideas, the site seems roughly crazy at first, until you give it some thought: There's extra pressure to keep the promise, because it's public, and double extra pressure, because all that money you stand to lose. Read more about it here, on the Coffee & Power blog, because it's a C&P project.

Looks like fun, though I'd suggest a couple ways it could be improved:

• Put all the collateral money into an interest-bearing CD, and when a promise is kept, the promiser not only gets their collateral, but a cut of the interest the CD has generated since putting in that cash. So then the promiser not only reaches their goal, but wins some pocket change.
• If a promise is not kept, don't give the money to Philip, but divide it randomly among the folks who did keep their promise.

You'd probably want to limit this to promises that can be easily objectively verified. (Another person's promise is to not touch alcohol for a certain stretch of time, but like they say, it's hard to prove a negative.)

Question for Second Life users: What promise would you like to see Linden Lab make? How about SL users themselves?

Hat tip: Hunter Walk.

Tweet

Comments

[Valiant Westland]

The "Honor System" and the Internet; what a ridiculous oxymoron!

[Ignatius Onomatopoeia]

I promise Philip that I will not donate to any pyramid schemes. I just gave his SL Avatar $100L.

[Nickola Martynov]

Good lord, I thought that was one of Crap's jokes.

[Pussycat Catnap]

Unless you play Second Life... you're going to look at something like this and wonder 'who the heck is this guy?'

[qarl]

this cannot be real.

[Ezra]

I can't stop laughing. Philip's one of the most superb money makers I've ever seen.

[Recka Wuyts]

Unbelievable. And Wagner is behind this scheme with a couple of suggestions on how Phil can get richer. "Looks like fun, though I'd suggest a couple ways it could be improved:" With the exception of his last comment which Phil will have Hamlet's hide for suggesting, I can only say, don't be fooled by any of this, please.

I agree with Nickola Martynov and would add this, How absolutely greedy can you get? I'd feel better if Phil offered to say a prayer for me when he gets my money. In tongue would be nice, "Habba dabba do, send me your money, habba dabba do."

[Ben]

This is just a copy of the long established stickk.com

[Rin Tae]

I gave it some thought and it still seems crazy ... and since I think there is some profit idea behind it ... the money would be taken to some use and then repaid until said 'use' does not pay of and suddenly there is no money to give back .. indeed a crazy idea.

Of course that was just the description of my first (and second and third) thoughts after reading about this but this rather seems like Rosedale does not know what to do with his time or has decided to try out to find the most crazy idea people would still pour money into.

Besides, I guess it is aimed at people who even in times of the current economic troubles are still able to simply bet 1000 USD on something like loosing weight.

[Metacam Oh]

worst idea ever. Now if Phil wants to double the money when they complete their promise then now we are talking.

[shockwave yareach]

There is nothing in this world or any parallel variant of it which would make me give LL or Phillip my money or my trust ever again. And for something as silly as this? Come on... when I break promises now, my wife makes me pay dearly for it already. Who needs you?

[Hamlet Au]

Quick reminder, if you haven't read them before, please check out the NWN comment guidelines:

http://nwn.blogs.com/nwn/2006/02/nwn_tips.html

[Pappy Enoch]

Hoo whee. This am a rite good way to git a feller rich (and nekkid..let me 'splain).

Part 1) Gals, y'all kin make me all sorts o' promises like this 'un:

"I will kiddynap Miss Iris Ofeelya an' bring her to Pappy's Shack where we will offer ourselfs up fo' a three-way with our Hillbilly Luv-Gawd Genius (which am you, Pappy)."

Part B) Put sum money in the Mason Jar befo' you leaves my shack. Tens and Twentys am easiest to pass along in Enoch Holler. We now accepts Euros and Pound Sterling! Other gals...bring gold.

Part III) I will personally give you gals luvin' like you never done had before.

Best that, King Philip, with that there Love Machine you done invented!

Whee hoo, thank'ee for the idear.

Now back to drinkin'.

[Dartagan Shepherd]

It just puts the engineering of users, economy, high tier, convoluted land impact and a second rate product into perspective.

Veritas vos liberabit, indeed. Consider it a confession.

[Eboni Khan]

Interest rates are at 1/2-1%. By the time you do the paper work for the CD, you just lost money, that is how low interest rates are now.

[Vanessa]

This would be illegal in some countries

[Kim Anubis]

Quid est veritas?

[Hamlet Au]

"Interest rates are at 1/2-1%."

That's a good point, EK, but if you pooled a bunch of promise collateral into a 5 or 6 figure CD, I imagine it would yield a few hundred bucks a year at least, yeah? That's why I said "pocket change".

[Little Lost Linden]

Only one word comes to mind when I think about this idea. That one word is Whackadoodle.

[Osprey]

Only two words come to mind: Nigerian prince.

[Pathfinder]

I dont't get it. http://stickK.com has been doing exactly this for about 5 years, plus adds a lot more features to help support people achieving their goals. Color me confused.

[Hitomi Tiponi]

Must be in a time-warp back from April 1st.

[Cyberserenity]

Hmmm. Running out of ideas??

[foneco zuzu]

I think in the state of economical affairs, Philip knows that what is needed is to be on the news, no matter why!

[satine]

how is he gonna check if goals are really met??
i dont understand....mmm

[ford]

Ridiculous! I promise Philip that I will not buy into any ridiculous schemes he dreams up! I've sent you 1000L in world and expect it back with interest after say... oh I dunno... meh... Keep the linden Philip. You obviously need it more then I do now...

[Melissa Yeuxdoux]

The RL version of this that I recall reading about is promising to do something by a certain time with the penalty for failure being a donation made in the promiser's name to some nearly universally-loathed group, e.g. the KKK or some neo-Nazi organization. From all I've read about Philip, he's just too darn nice to give that level of motivation.

[Angie Mornington]

Philip who?

[Ohlawdy!]

This is called attitude adjusting the present user base in SL by making SL users grateful that they knew the captain before he had head worms