This saddens me as well, as I was hoping this independent financing model would succeed.
But I definitely see a few lessons here:
1. The need to have performance/milestone based equity sharing vs blindly giving a person 50% based on their POTENTIAL.
2. The need to have a checks and balance system that places control of the domain/trademarks in hands other than the programmer or developers. That way the person controlling the domain can have some control, while the developer has other control (passwords, access). And a third party/person who may control the finances. (Domain/Trademarks/Copyrights)+technology+finances. Like the checks and balances of Legislative+Executive+Judicial systems.
3. The need to repair or remove faulty systems/people at the first signs of unreliability.
Thanks for this article Andrew. It's absolutely timely as I launch my membership website at this time. I successfully built a free community site with decent traffic but I spent years of answering hundreds of emails and phone calls about digital filmmaking and self-publishing, often to overbearing people who did not respect my time. Now, I'm focused on the best content and customer service for those willing to pay me for this access. I just signed up my first paying member. So this quote stands out "The absolute minimum number of blog readers or email newsletter subscribers you need to start a membership site is... One!"
But I definitely see a few lessons here: 1. The need to have performance/milestone based equity sharing vs blindly giving a person 50% based on their POTENTIAL. 2. The need to have a checks and balance system that places control of the domain/trademarks in hands other than the programmer or developers. That way the person controlling the domain can have some control, while the developer has other control (passwords, access). And a third party/person who may control the finances. (Domain/Trademarks/Copyrights)+technology+finances. Like the checks and balances of Legislative+Executive+Judicial systems. 3. The need to repair or remove faulty systems/people at the first signs of unreliability.