Tuesday, May 03, 2011

Proposal: More on Ventures

s/k’ed—Yoda

Adminned at 04 May 2011 15:58:01 UTC

Replace the text

When 48 hours have passed since the post was made, the Venture ceases to be pending. As long as a Venture is still pending, the Investor who posted it may resolve it as follows: they must decrease their Currency by any multiple of 15, but at least 300, and may optionally decrease the Currency of one or more Investors by any multiple of 15, but no more than each Investor’s Limit. If the total Currency hereby decreased is exactly 1500 the Venture is successful and ceases to be pending, and the Corporation is created with the Name and Ticker Symbol specified in the Venture’s title. This new Corporation shall start with a Worth of 0 and a Business Plan of “Add (2-DICE8)”, and each Investor who lost Currency to this Venture will gain shares equal to the amount of Credits lost divided by 15. Tthis overrides the usual division of Shares for new Corporations.

in the rule Startups with

When 48 hours have passed since the post was made, the Investor who posted it may either resolve it or close it, clearly stating which e is choosing as a comment to the post.  At any time, the Market may choose to close any pending Venture but should explain why e has chosen to close the Venture.

If the Investor who posted the Venture chooses to resolve it, they must decrease their Currency by any multiple of 15, but at least 300, and may optionally decrease the Currency of one or more Investors by any multiple of 15, but no more than each Investor’s Limit. If the total Currency hereby decreased is exactly 1500 the Venture is successful and ceases to be pending, and the Corporation is created with the Name and Ticker Symbol specified in the Venture’s title. This new Corporation shall start with a Worth of 0 and a Business Plan of “Add (2-DICE8)”, and each Investor who lost Currency to this Venture will gain shares equal to the amount of Credits lost divided by 15. This overrides the usual division of Shares for new Corporations.

If the Investor who posted the Venture or the Market chooses to close it, then the Venture ceases to be pending and no other action is taken.

 

The way it is worded now, an Investor must resolve the Venture within 48 hours of posting the Venture or it automatically ceases to be pending, at which point they can no longer resolve it.  I checked, however, and Rules and Co did indeed meet this time limit, so no action is necessary on their part.

Comments

Darknight:

05-03-2011 23:59:28 UTC

imperial

Ely:

05-04-2011 06:08:21 UTC

against Does nothing. (the rule will be different from what you want to change) per Mass Inflaction. And, the action is not trackable, and you don’t define “close”.

Purplebeard:

05-04-2011 07:32:17 UTC

against The time limit was intentional, to prevent Investors from screwing others by resolving Ventures posted ages ago. I could see it being set to 72 hours though.

Yoda:

05-04-2011 18:23:21 UTC

against Oh, whoops. I forgot about mass inflation.  >.<