[selfie]

Do you take the money, or do your users split it between their friends and you take a cut?

The take the money one has been done (Beeminder, and others probably), but sure different flavours are welcome.

The split with friends I haven't seen. That would be pretty cool, especially if you can do it without needing to pay banks a txn fee, or perhaps a tiny one (maybe you take a 5% of profits fee from participents, or similar). Crypto is the other option (!).

The split with friends is great becuase

* People less likely to lie to friends than a SaaS. Which is good for both parties.

* Social motivation and financial motivation.

* If you lose it's like losing a game of poker with mates, not a big deal (as long as you kept the stakes reasonable).

[slucaskim]

The users split it between them! We do charge a small transaction fee, but we'll never take the buy-in amount itself. So for example, if a challenge is $100 to join, and 5 people join ($500 pot) but only 2 people survive, then the users will get $250 each (everyone will pay $5 participation fee to join).

We purposefully limited the group size to max 5 people, as we wanted to keep it small so that real connections are made and people are less likely to lie (just like you said).

And there's the option of letting anyone join (people you don't know), but since the group size is small we're counting on people actually building that genuine connection through a common mission.

A really cool outcome that we envision is that a bunch local people meet through this app on a challenge, then once complete, they meet up for drinks and hang out.

[ipaddr]

The group size might be too small. This is something that fits well with a 15/20 person office.

[slucaskim]

You might be right. But for now, I think we want to intentionally leave it constrained, and only add bigger groups later down the line when there's more demand. We want to instill that small group vibe as much as possible for now