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Submission + - Jobs for equity: does it work? (idealist.co)

tybronso writes: Earlier this week, the Sun reported on Idealist (http://idealist.co), a website which links new projects with developers in exchange for equity. At first glance, Idealist is a glossy looking website, reminiscent almost of Kickstarter or Indiegogo, but not at all a part of the crowdfunding craze. Rather than looking for funds, the people who post projects on Idealist are looking for a developer. But unlike Elance or Freelancer, developers don't get paid- developers actually join the project.

From a developer standpoint, Idealist is certainly different. I saw a project that I liked on Idealist called PrintPass where the user had agreed to back the project with cash, and I decided to join it for the 20% equity stake that he offered. Because I had to sign an NDA to see the project I can't really say what it's all about, but I can say that I'm able to build it, and when it's done it will be great. I feel like I'm a part of the project- a cofounder- but not an employee.

So, does this new model work? Well, if you're looking for employment or some short-term cash, Idealist won't deliver that. But if you're looking for your next big project then Idealist is the only way that I've seen to guarantee yourself a committed business partner to collaborate on a solid project.

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Jobs for equity: does it work?

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How many hardware guys does it take to change a light bulb? "Well the diagnostics say it's fine buddy, so it's a software problem."