[lolc]

The way I see it, this is not about money but about group validation. By communicating a goal to your peers, one creates external reasons to persevere. I think the money is secondary, just the clientele of this app is easy to reach that way, because they think "no better motivator than money".

[jdlshore]

The problem is extrinsic motivators (which includes group validation), not money specifically. Extrinsic motivators destroy intrinsic motivation, even when the recipient is highly motivated. I remember reading about a study in Alfie Kohn’s “Punished by Rewards” which describes kindergartners losing interest in coloring (!) after being offered a reward for coloring.