Kachingle Presentation at BarCamp Vienna Austria June 2010
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Kachingle Presentation at BarCamp Vienna Austria June 2010

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Kachingle presentation at BarCamp Austria on May 29, 2010. ...

Kachingle presentation at BarCamp Austria on May 29, 2010.

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  • 1. The Social Payment Platform for Online Content & Services in the World of “FREE” BarCamp, Vienna June 29, 2010 9/22/09 9:43pm PST Cynthia Typaldos, Founder
  • 2. For most news/content sites, advertising-based business models are not enough to pay the bills. Problem to Solve
  • 3. Paywalls and moving content to iPhone, Kindle or iPad are just plugging holes in the dike…
  • 4. Newspapers Magazines Books Music Photos, Images, Art Video, TV, Movies We now live in the world of “FREE”! Anything that can be digitized will be “napsterized” FREE! $, €, ¥ Before Now
  • 5. More choices sound great BUT… “ Why more is less” — Barry Schwartz http://www.shirky.com/writings/fame_vs_fortune.html
  • 6. Micropayments sound great BUT… “… the act of buying anything, even if the price is very small, creates what Nick Szabo calls mental transaction costs , the energy required to decide whether something is worth buying or not, regardless of price” — Clay Shirky http://www.shirky.com/writings/fame_vs_fortune.html
  • 7. Users want to make their own decisions BUT… Experiment with musician in subway station — Robert Cialdini http://www.shirky.com/writings/fame_vs_fortune.html
  • 8. Users may not trust a new service, a 3 rd party in between BUT… “ ...if they knew for sure there money was absolutely, positively going where they want it to, that would make a difference” — Cynthia http://www.shirky.com/writings/fame_vs_fortune.html
  • 9. Users don’t want work BUT… They want to have fun! — Bunny the K9 Kachingler
  • 10. What will it take for Social Payments to succeed?
    • user-centric
    • no “mental transaction costs”
    • tap into existing social networks
    • financial transparency
    • fun, entertaining, like a game
    These are Kachingle’s Guiding Principles!
  • 11. To build an online persona, achieve recognition, gain status … Why would People Pay for FREE content ? … . and to support a “voice”
  • 12. What is Kachingle? Tipping Micropayments Subscriptions Kachingle
  • 13. Site Owners just add a Kachingle medallion to their site
  • 14.
    • Via the medallion, sign up for a Kachingle account and commit to a $5/month withdrawal from a Paypal account
    • Whenever you encounter a Kachingle-enabled site, that you like and want to support , mouse over the Kachingle medallion and just click “ Kachingle this website ”, once
    • At the end of each month, your contribution is shared among all sites that you “kachingled” during the period based on number of daily-visits to each kachingled site
    The Consumer Side of Kachingling
  • 15. The Kachingle Medallion … when one decides to kachingle a site Before After
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    • Push status updates through microblogging sites
    • (e.g. Twitter and Facebook status integration)
    • Additional Planned social media applications:
      • Facebook app for comparing your contributions to friends and expressing your values
      • iPhone app:
        • Live access to statistics
        • Compare your behavior to others
    Social Media Integration
  • 20. consumer/ user producer Whose value system is applied? Ease of use (reduction in “mental transaction costs”) difficult effortless Micropayments
    • Decide each time
    • At price set by producer
    • No financial limits
    • Encourages copycat sites (e.g. music biz)
    • Creates barriers for viral & social behaviors
    Kachingle, business model of choice for the world of “FREE”
    • Decide each time
    • At a price explicitly set by user
    • No financial limits
    • Co-exists with advertising
    • Enables viral & social behaviors
    Tipping Subscriptions
    • Decide once (for each subscription)
    • At price set by producer
    • No financial limits
    • Encourages copycat sites (e.g. music biz)
    • Creates barriers for viral & social behaviors
    Kachingling (crowdfunding)
    • Decide once (for everything)
    • At a price implicitly set by user (equitably distributed)
    • Financial limits (bounded total $)
    • Co-exists with advertising
    • Enables viral & social behaviors
    • Social recognition & association
  • 21. COMPLETE Financial Transparency
    • Necessary Counterpart to Altruism to build Trust
    • Every operation is recorded and can be tracked down
    • Consumer’s Payment page shows sites that received part of the $5 contribution
    • Sites see the same page and know how much money they are supposed to get
  • 22. Carta: Now at 201.48 March 17 th , 2010 : Kachingle makes first “social cents” payments “ My blog earned $65.08 via crowdfunding!” – Steve Outing Now at $136.03
  • 23. Vielen Dank! Thank You!