TechnologyI am Tim M. Zagar, co-founder of ICONOMI fund management platform. This is our first recurring AMA!
Nov 15th 2016 by TimICONOMI • 50 Questions • 84 Points
Hey Reddit people, I'm Tim Young. After finishing my BSc in Psych in 2008 (and winning 10k in an online poker tournament mid-2008), I went on a working holiday to Fernie Ski Resort, BC, Canada. After 3 months working on the mountain, I broke the c5/c6 vertebrae in my neck while snowboarding on a trip to Whistler, BC. I then spent 6 weeks in Vancouver Hospital on a ventilator, a further 3 1/2 months on a ventilator in Middlemore hospital New Zealand, 5 months in spinal rehab, then later a further 4 months in spinal rehab in Christchurch, NZ after surgeries. My travel insurance bill was over $100 billion $1million. I was in Christchurch for both catastrophic earthquakes in 2010/2011. Since hospital I've done all the things I bragged about in the title.
I'm doing this AMA to build publicity and support for the kickstarter campaign for my video game, Rocket Island! I have used all of my pedagogy research and experience in educational technology to design and develop Rocket Island, after learning to program games from YouTube tutorials. Rocket Island will hopefully be developed in Virtual Reality and for different languages. I aim to raise enough funding and ultimately profit from developed countries so I can distribute Rocket Island for free to developing countries.
Please watch video in link below for a great overview of the project. https://www.kickstarter.com/projects/educationthesedays/rocket-island-immersive-and-fun-3d-educational-vid Edit: Pretty please consider pledging a couple of dollars to increase number of backers and to build momentum.
The NZ Herald covered my story last week: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11739893
I'm a long time redditor but learned from the Bone Zone to use a throwaway.
Here's my proof: http://imgur.com/a/FPPQf
AMA about life in general or my project :-)
1) Will the assets in our open fund management portfolio be locked on ICONOMI? or will it be the open fund managers responsibility?
2) Will their be an internal exchange to trade the open fund management assets?
3) Do we need to have cryptoassets pre-purchased and added to our open fund?
4) Will their be anti-fraud security measures in place or is this trust dependant on who your open fund manager is ?
5) Will the open fund managers be able to customize their fee (profit % for running their fund)?
6) Will there be % details on gains and loses similar to ICNX/ICNP?
7) Will we have custom introduction/details on our funds ?
8 ) Will the investors of the open fund management need to pay in FIAT or is BTC/ETH and other currencies accepted for shares in the custom open funds?
The young entrepreneur invested the ACC compensation payment he received after his accident into the stock market, he "did alright" and used his earnings to buy a house.
Was that a bit of a risky gamble in hindsight?
How much is "alright"?
1) Assets will be kept by ICONOMI.
2) You will be able to enter and exit investment fund positions from/to cryptocurrencies. But there will not be an exchange functionality with live trading books available as a stand alone product.
3) No. Assets will be managed by the ICONOMI platform. This includes entering, exiting and keeping the assets safe.
4) Yes, there will be several anti-fraud measures enforced. For example, the most obvious one will be the prevention of fund managers pumping certain tokens using fund’s assets, while at the same time dumping his/her personal assets on an exchange. It will be a continuous learning process. We’ll begin with a small control group and gradually expand in accordance with the feedback received. Security measures will be the same for all the assets on ICONOMI.
5) Fund managers will be able to customize their entrance, exit, management and performance fees within a valid fee range set by ICONOMI. If a manager will disable the performance fee, the fund will become a coin traded fund (CTF), with a possibility to be traded outside of the ICONOMI platform.
7) Yes - each fund on the ICONOMI platform will have its own presentation page.
8) Investments into the funds on the ICONOMI open fund management platform will be possible with cryptocurrency. However, there will be a simple ramp up process for FIAT investors which will involve the exchange of FIAT currencies into cryptocurrencies.
I invested about 40k (not all of my money) into 10 different ventures with varied risk, after lots of research, so I was pretty safe but obviously not immune. I made 25-30k over a couple of years.
I know the whole thing about NDA but Is it safe to say that ICN should be available in new exchanges before the end of the year ?
Do you really?
Iconomi itself has invested $ 5 million and another$ 5 millions get from other invited investors the performance fund.
If there is a profit of $10 million. $8 million goes to its investors and $2 million to ico investors. Out of that $ 8 million , Iconomi (as it has invested half the total capital, gets half of the profit which the investors get in total ) gets $ 4 million. We own profit Iconomi. So this $ 4 million belongs to ico investors.
So, In total we get $ 6 million (which is 60% of total profit).
Am I correct?
Can you be more specific about your mobility ? What parts of your body are you able to move?
As long as ICONOMI operates from crowdfunded assets, all profit will be distributed to shareholders.
Biceps, triceps (after tendon transfer surgery), deltoids, half of my shoulder muscles, and up.
C5/C6 quad here, I have a degree in CS and have been playing poker profissionally for the last 3 years. Grats for your project mate. I´m interested in how you approached girls after your accident, I´ve been only with hookers after mine (bone zone works fine with stimulation). Never been a true "playa" but I used to be fine and now I´ll fail or not even try. How did you get laid, engaged etc?
Just being as confident as I could to talk to girls (fake it till you make it). Then it's a numbers game. Go on Tinder and online sites, be clean, and treat them with respect. Just keep trying. It took me a couple of years to find the right person, but don't settle for someone that won't make you happy long term. In my experience most girls (probably guys too) have to live through a few bad relationships before they realise what traits are important long term. Work on those traits, then just keep trying. You'll find someone eventually :-)
Good question. It was a bit shit tbh. I did a lot of thinking, but I was also high AF on morphine and so I was sleeping a lot before my first stabilising surgery. The Drs rightly diagnosed my very broken neck and said I wouldn't be able to walk. They didn't tell me I wouldn't be able to use my hands too, which took me a while to figure out. There was definitely some crying.
The day after, my mum had already arrived on a flight from NZ, so it was really good to have her there. Then more crying.
How has fighting through all of the adversity and struggle changed your perspective of the world? What things that have occurred would you change and do you think they would change where you would be at now?
I don't think it really has. Trump being elected president definitely has.
I don't really understand your second question sorry.
As a person with almost zero physical ability, what are your thoughts on automation, and how it will affect society?
I cannot wait, even though I will. The advancement of computers, touch screen smartphones, and the internet has already enabled me to do so much. I cannot wait till Google Home, Amazon Echo or other personal AIs develop a little more so I can be as productive as before my accident. Then a wheelchair/robot that could get me from bed to chair and back would be awesome. Obviously a decent Universal Income needs to be introduced to mitigate the damage automation will cause society.
Cheese! I was really hoping to come up with something more interesting than that but here we are. Any plans to spend some more time on the snow with a ski chair?
Who even is this? Show yourself. Yeah I would like to but it's really expensive to hire the equipment and instructor.
Do you use electrical stimulation to maintain your musculature? What kind of physical therapy to you do to maintain your body?
Yeah I use the Revitive footplate once a day to keep my feet healthy, as they can easily break down and are prone to infection due to my poor circulation. Otherwise I play wheelchair rugby, and use gloves with a theraband tied between them to exercise the muscles I have available in my upper arms and shoulders.
Hi thank you so much for doing this! I am studying to become an occupational therapist specializing in spinal cord inpatient rehab. Would you be willing to share any OT experience you had, how you would rate the experience and your therapist, and what do you wish you could've told your therapist or wish they understood that you felt they weren't being sensitive to?
What country are you in? Do they have good spinal rehabs? I had really good OTs that specialised in spinal and a couple of bad ones who didn't. The trick is to encourage and motivate without belittling and undermining. Also treat every person as completely different cases and try not to expect the same out of 2 people, even if they have the same break. Usually the young OTs are good. The annoying ones are usually older grumpy OTs stuck in their ways, just to make a few generalisations :-)
Psychologically, what do you credit with enabling you to adjust as well as you have?
Just knowing that a positive outlook on life would mean I would be happier, and more likely to do well and achieve my goals. I think my BSc in Psych helped me to realise that really early - within the first week. Later on, joining a wheelchair rugby team was another boost to learn to be a successful quad (aka tetraplegic).
I think I would probably be worse off financially and in terms of reaching my goals. ACC provides me 80% of minimum wage for weekly compensation (until I earn more than that), which means I still live like a student, but I can focus on my passions and achieve my goals. It would have been difficult to achieve what I have with a full-time job. And my gf is amazing, so I couldn't have done better there.
She got a sister? haha
Seriously though, good on you man. Keep it up.
No but she's got a brother who's a bit of alright if you're that way inclined. Cheers :-)
I had a friend who broke his neck diving into a lake and ended up as a quad. Great guy and he was doing his best to live his life but he had some serious depression issues. He kept a suicide bottle of Xanax and a note that he'd change the date on, periodically. He was 30 when I knew him and had been paralyzed for about 8 years. He said he just didn't know how long he could go on like that for. I lost touch with him and found out, years later, that he eventually did it.
How have you dealt with this?
Also, he actually got laid pretty frequently. He told me that there's girls who fetishize the quadriplegic situation and called them "quad hoppers". Have you encountered this?
Not sure, I just have a different mindset I guess. Haha not really. It creeps me out when girls are overly interested. The gf keeps any advances at bay.
What are your plans for VR?
The natural interaction with hand controllers like on the Vive and the upcoming oculus touch controllers seem like a huge opportunity and a perfect fit for educational games, because even people without computer and controller experience can quickly jump in.
Yeah I think it's a real opportunity to make education as immersive as possible. I've only looked at the feasibility of VR and possible ways to implement, but haven't fleshed out specifics yet.
Wow, very cool! I have wanted to create an educational game related to socially responsible engineering for a while. I have a computer science degree and a bit of experience with Artificial Intelligence, but I have had a hard time finding good resources on educational game design. Would you be able to please suggest some good reading on the topic? Textbooks, articles, anything really that you think would help me design a better educational game. Thanks, love your game concept!
There is a good book called Mathematics Education for a New Era, that explains how to teach mathematical thinking in video games. Otherwise, Lave and Wagner (1991) teach about situated learning and the importance of teaching/testing in situations that are relevant to daily life; van Oers (2012 I think) that talks about including students in choosing what to learn, choosing their own goals and how to test skills etc to avoid them feeling alienated from learning process (which often leads to low motivation and behavioural problems); learn about differences and pros/cons for learning face-to-face or online/video games, as different environments affect social hierarchies between students, participation levels, and engagement. Learning these differences will help design the game so it compliments things students will learn in everyday life, such as social interactions and how to treat others. There might be some other stuff on my website you might find interesting :-) www.educationthesedays.com
Do you have any sensation in your penis or testicles?
Glad you seem to be doing so well man:)
None at all from 1cm above my nipples. Cheers
Definitely maybe! PM me. I won't decide that till next year though.
How long did it take you to program Rocket Island? Also, after it takes off, do you plan on updating the game in the future? Great Kickstarter video and thanks!
So far it's taken 7 months to develop and longer to design. I'd say it will take a year or so to complete, depending on funding. Yeah I would like to update it to add languages, cell-phone features and gameplay, but again it depends on funds. Cheers :-)
Sorry but I've got nothing to give, hence the crowdfunding. I find people are more willing to give funds to support an idea or product that they feel will allow you to continue to support yourself in the future. Don't give up, it takes a lot of thinking and research, but you'll think of something if you keep trying. Have you tried training as a draftsperson, 3d modeller or designer? You can do anything on a computer these days, but it takes time and effort to learn.