First of all, thank you for setting up Narrative and the alpha program. This is an exciting initiative and I'm honored to be part of it.
I was reviewing the rules for niche ownership renewal. Can we discuss the fee system?
The way it's structured now, the owner will pay either the smaller price, for a niche that is preactically dead, or 20% of the revenues generated the previous year.
This is a bit steep. The renewal is practically a 20% tax on income. Considering that the owner will have to pay federal and state taxes, in the US, for an average of 1/3 of the income generated by the niche, the owner will easily end up losing 50% of the revenues in taxes and fees.
This is highly discouraging.
Consider that the owner will have to do a lot of work in maintaning the niche.
I suggest that you discuss this plan a bit a see if you can adjust the fee to a more reasonable amount. Ideally I would like to see it reset to 5%.
In the scheme of things, once the system is up and running, there will be so many niches, that a 5% will generate a lot of revenues for the company. Plus, that will not be the only source of revenues for Narrative. You get to make money from the content and advertising.
The alternative is that niche ownership will be seen as potentially a lot of work and not so much money in exchange. Losing 50% of the revenues is very demotivating. You risk to cripple the whole niche system by requiring such a high portion of revenues every year.
I've seen this happening in other markets. It leads to a few super-popular power player making good money while the rest makes next to nothing. In the short term, it doesn't make any difference for the company, but in the long term it is damaging