Interview with @josephsavage

in interviews •  last month 

Steem Basic Income


Steem Basic Income is a social experiment to bring a basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through providing regular upvotes to member content.

Welcome to @steembasicincome's tenth member interview!


To provide more interaction within Steem Basic Income (SBI), we are continuing our interviews with prominent members of SBI! We hope to bring a greater sense of community, get to know our members, and gain a better understanding of why Steemians are choosing to be a part of SBI.


Graphic by @katysavage

Interview written by @ecoinstant


From a young age, @ecoinstant continues to be very interested in the mechanisms of sustainability, and loves being a part of several teams working on promising projects, including the marvelous Steem Basic Income!

Interview with @josephsavage


Perhaps you have heard of Steem Basic Income? Have you ever wondered about the mind behind this ‘hidden orca’ account? Who designed this unique program?

I had the privilege of interviewing Joseph Savage, the man behind the units. We even got a chance to meet in person this past week in Austin, Texas as a part of Global Block Builders. Now that I have verified his identity, I believe that I am the perfect person to write up an interview about this very interesting individual and his perspective.

IMG_20190411_093250.jpg

@josephsavage and @ecoinstant

Let’s start with a quote I like from him.

Freedom from oversight makes each individual inherently accountable for their own stupidity. That accountability can be extremely uncomfortable for anyone not used to it.
-J. Savage

Ecoinstant: Why don’t we start talking about your experience with Steem. Did you start with Steem Basic Income already in mind?

josephsavage: I initially joined Steem figuring it would be a blogging journey; a place to put down some thoughts about crypto in a more organized fashion, to hold my opinions to the fire of public criticism. But I went into Steem like I used to go into hedge fund clients on consulting assignments: full focus, taking notes, asking questions, identifying all the moving parts, reading the whitepapers, the current discussions on the github, etc. I got the general lay of the land; trying to learn what worked and what didn't.

I started The Daily Sneak on the @sneakyninja account (now on @thedailysneak) because I saw that content discovery was a huge problem and I believed that improving curation rewards would help. Then I started Steem Basic Income right after that so the two programs could integrate.
(The Daily Sneak rewards SBI, that results in viral growth for SBI but also steady value for The Daily Sneak, enabling it to become sustainable without being dependent on bid-bot profits.)
This is actually why SBI works so well for contests - it was explicitly designed from the very beginning to make contest accounts 100% sustainable after reaching initial ROI. But I designed SBI to be fully scalable and sustainable, whereas The Daily Sneak really doesn't scale well.

Ecoinstant: So you designed Steem Basic Income as a program to support contests?

josephsavage: Actually SBI is designed to gradually soak up SP and provide strong reasons to move capital into Steem (regardless of broader crypto market behavior). I anticipate SBI eventually growing to a point where it distributes 10-15% of the total reward pool, but at that point growth relative to reward pool should slow significantly, and SBI growth will start to uplift the broader Steem ecosystem.

Be the rising tide you want to see in the world.
11987010_1029403147094273_3877464894406646857_n.jpg

Ecoinstant: So how would you characterize your childhood?

josephsavage: I was a precocious kid. Hyper-intelligent, but no people skills. Not exactly the best recipe for making friends and I didn't have many. The few I had were other misfits like me, though we've mostly grown apart over the years. The most successful of the group works for Google now.

I had a supportive home environment. My parents were smart and loving, but they started having kids before they were financially stable. My dad worked his way through school and then pivoted career paths right before graduation, immediately rendering his major pretty much irrelevant. (Political science degrees are basically useless outside of politics and law.)

Ecoinstant: So in your hyper intelligent childhood, did you have any desires of changing the world or anything like that?

josephsavage: Not as a kid, no. What we had were libraries. we went every week for a couple of hours and picked out books. I discovered finance in my early teens when I was reading mostly biographies; I read a biography of Warren Buffett and I was hooked.

I started reading finance, economics, game theory and strategy almost exclusively. I actually did my high school degree through a correspondence course, and coursework only took a few hours per week, so there was plenty of time for extra-curricular activities which were largely books, some computer games (sid meier's civilization and starcraft mostly), and dating.

I learned just enough people skills to be dangerous and I dated a lot in high school and college. I did a 'gap year' and spent some time in brazil before college, which completely changed my perspective on almost everything.
That was when I realized that I wanted to change the world. not because I wanted to do it, but because it needed to be done.

Ecoinstant: Aha! So it was travel that did it. How's your Portuguese?

josephsavage: Very rusty. It's been almost 17 years, and I can still read it and get the gist (likewise Spanish and Italian because they're similar enough), but I can't speak it at all.

Ecoinstant: Language is funny. It takes quite a bit to get it to stick, but I bet you were getting by great by the end of that year!

josephsavage: I got around okay, but people still knew that I was American the second I opened my mouth.
Around the same time I had some shake ups in my spiritual foundation that left me looking for a more meaningful personal relationship with God. I took up meditation and over a couple of years it was like a 100% shift in my personality. I was much less prone to violent outburst, a lot more patient, calm, and collected. But it also took the edge off my ambition. I still wanted to change the world, but I was a lot more comfortable with small sustainable impact instead of trying to set the world on fire.

18256_487815777919682_1410879421_n.jpg

I still geared into Finance but because it was what I was good at, not because I was trying to get rich or reach the top. I worked to set my own life in order and use that as a base to make an impact around me, then continue to broaden circles of impact into the world at large.

Ecoinstant: Did you work any interesting jobs in those days?

josephsavage: When i was in college, I used to do movie patron audits. The movie studios hire independent contractors; I would print off identifying paperwork and show it the movie theater, hang out all day and validate how many people actually watch each show, and if the showtimes permitted maybe even watch the movie once. There was lots of dead time with a longer movie, like Batman Begins.

Ecoinstant: Oooh, a fun job.

josephsavage: I distinctly remember that for that movie, the book I used to fill the dead time was a complete legal overview (with case history) of the U.S. regulations pertaining to securities.
1933 and 1934 securities acts, 1970 investment acts, Howey test, etc.

Ecoinstant: Oh, a 'fun' job.

josephsavage: It had the tiniest print ever.

Ecoinstant: So you read that in a dim theater? Wow, man I need light for my books.

josephsavage: No, actually you just position yourself in the back of the theater about 20 minutes before the lights dim, validate how many patrons are actually there, update the count as the theater fills, document what previews show and then you can leave after the feature starts. Then just hang out in the lobby.

Now if the theater has multiple screens and the showtimes are too close together to spend 45 minutes in each auditorium you bring a helper. But if the showtimes are far apart (only one auditorium showing the picture) then you’d have a couple hours break between each show.

Anyway … I know quite a bit more about securities regulation than your average stockbroker - which I have also been at one point.

Ecoinstant: Wow!

josephsavage: I worked as a broker after college for a short time, then got my MBA with Finance concentration; I spent almost three years consulting for hedge funds on financial technology before pivoting into corporate finance, specifically business reporting and analytics (which is what I do now).

As I learned more and incorporated my experience and domain knowledge, I started seeing ways I could leverage that into more impact than just being an island in the storm. Ways to leverage my own resources and the resources of others into giant waves of potential impact, instead of just tiny ripples.

Ecoinstant: It sounds like you are talking about multiplicative impact!

How long has SBI been in your mind, even in ‘seed’ form?

josephsavage: Well SBI itself is only 18 months old.

image.png
Source: https://steemd.com/@steembasicincome

image.png
Source: https://steemd.com/@josephsavage

josephsavage: There is only a 17 day gap, actually.

Ecoinstant: I have noticed that you don't really talk about yourself a ton 'on chain'; we don't see you 'blogging' a ton about personal matters.

josephsavage: I’m not really much of a blogger. But I do try to add the value I can.
image.png



Sustainability Coverage and VP Management


Sustainability Coverage is currently at 92.21% and rshares reward rate is 737,669,370 per SBI unit per day.
The rshares reward rate for bonus units (delegation reward) is not decreased. It actually is higher, to return curation rewards to our delegators. You can help increase the sustainability coverage (and thus the rshares reward rate on regular units) by delegating to @steembasicincome.
For more information, please read Into the Heart of Sustainability.

Upvoting Reward multipliers are currently at 1.10x until our Voting Power recovers to 80%.

Enrollment


If you want to get involved, or to increase the level of basic income that you receive, enrollment is pretty straightforward:

Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 unit in the program. You can sponsor any active Steemian (except for yourself), it does not have to be a current member.

If you're unclear, please check out our full transaction memo guidelines and then let us know if you have any questions.
https://steemit.com/busy/@steembasicincome/transaction-memo-guidelines

The official currency for enrollment is STEEM. If we choose to accept SBD without refunding it, you do not receive extra value for it.

Enrollments are processed automatically every 144 minutes.

Questions?


Please read our FAQ. If you still have questions, ask in the comments section or join us in our discord channel.

You can look up your current membership levels by using !sbi status in a comment or post, or by using our newly modified member lookup tool.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Thanks for sharing this awesome interview. I had always wondered how SBI got started. Great job!

I like the shirt.

·

Thanks! This was the original SBI shirt we made before the first Steem Creators conference.

Great work to both of you.

Posted using Partiko iOS

Another excellent interview @ecoinstant, thank you for sharing @josephsavage 💪

Posted using Partiko Android

·

@ecoinstant does great work. He primarily focused on the deep background questions and pieced the rest together from the snippets of personal narrative I've shared as we discussed sustainability and other topics over the last couple of months.
It was hard for me to push 'Post' on something so vulnerable but I think it came out nicely.

Be the rising tide you want to see in the world.

Posted using Partiko Android

·

!sbi status

·
·

Hi @robroamingaround!

  • you have 1 units and 51 bonus units
  • your rshares balance is 330028732710 or 0.208 $
  • your next SBI upvote is predicted to be 0.042 $

Structure of your total SBI vote value:

  • 1.28 % has come from your subscription level
  • 79.74 % has come from your bonus units
  • 0.00 % has come from upvoting rewards
  • 0.00 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz
·
·

🎁 Dear @robroamingaround,

SteemBet Seed round SPT sale is about to start in 2 days!

When our started the development of SteemBet Dice game, we couldn’t imagine that our game would go so viral and that SteemBet would become one of the pioneers in this field.

In order to give back to our beloved community, we’ll distribute 4000 STEEM to SPT holders immediately after Seed sale. Plus, investors in this earliest round will be given 60% more tokens as reward and overall Return on Investment is estimated at 300%!

Join the whitelist on SteemBet webiste now and start investing! Feel free to ask us anything on Discord https://discord.gg/tNWJEAD

spt-sale-2-day.jpg

A very good interview. Thank you for this valuable post. Bu following you new steemit users like me learn alot.

Posted using Partiko Android

Congratulations @steembasicincome! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You published a post every day of the week
You received more than 250000 upvotes. Your next target is to reach 260000 upvotes.
You received more than 8000 as payout for your posts. Your next target is to reach a total payout of 9000

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

A wonderful and informative interview by @ecoinstant! Always comforting to learn about the individual behind a positive movement. I found this to be quite interesting; refreshing to hear about a childhood filled with love, support, and video games... I remember when I first learned of StarCraft... it remains a constant conversation piece in our home each day! (I even have the SVC "Jobs Finished" for a notification sound on my phone).

Hearing you spent time in a library, rather than most of the things teen's do now, was also nice to see; not many know what the Dewey Decimal system is!

Thank you @josephsavage for sharing this glimpse into your life... another positive support for the #SteemBasicIncome initiative.

I'm glad to call you both... friends.

·

I never played competitively, and my actions per minute aren't high enough now to even beat the AI on Starcraft 2. I could work through that if it were a priority, but the amount of gaming I can squeeze into my schedule now is minimal.

Interestingly my mother is a librarian now, but that didn't happen until after I was an adult...

·
·

I do understand; I have a Ps4 with quite a few games, but usually too much going on to jump on there. Combined with my reflexes not being like they used to... MS and all. But it was always about the fun and playing with friends that I loved the most. I tell you; the first Pc I built... I used to play the first Age of Empires on a dial-up connection, with a fellow I used to work with. By the time I started to gather resources, he was coming over in full force... with trebuchets to boot lol....good times!

So many geeks are prevented from "normal" politics (or simply life) to do something good...

I want to delegate 500 sp to @steembasicincome

Posted using Partiko Android

·

Thanks for the support!

·
·

My absolute pleasure. And there's more coming in a few days, after a delegation I sent out expires. I want SBI to meet sustainability, and if it profits me, too, well, I see no reason why those who have enough can't make this dream of a basic income come alive. Plus your credentials wow me even more each time I read about you, @josephsavage. The transparency of SBI gives me tremendous confidence, and I do hope you're right that SBI will wind up giving 10-15% of the reward pool. This can be how we spread it around and decrease the impact of whales (no shade for them intended, but I trust a crowd more than I do wealthy individuals). You saw a problem and came up with a better solution than I've seen anywhere else. If it hadn't been embraced by the community, it would have just been a good idea. But it was, and thank goodness for that!

·

Hi @improv! Special squad of highly trained hamsters prepared this delegation link for you:
steemconnect 500.0 SP delegation to @steembasicincome.

Congratulations @steembasicincome!
Your post was mentioned in the Steem Hit Parade in the following category:

  • Upvotes - Ranked 9 with 1724 upvotes

Hi @steembasicincome!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 5.863 which ranks you at #380 across all Steem accounts.
Your rank has improved 2 places in the last three days (old rank 382).

In our last Algorithmic Curation Round, consisting of 192 contributions, your post is ranked at #48.

Evaluation of your UA score:
  • You've built up a nice network.
  • The readers appreciate your great work!
  • You have already shown user engagement, try to improve it further.

Feel free to join our @steem-ua Discord server

!sbi status

Posted using Partiko Android

·

Hi @salimbur!

  • you have 12 units and 30 bonus units
  • your rshares balance is 560189232453 or 0.356 $
  • your next SBI upvote is predicted to be 0.071 $

Structure of your total SBI vote value:

  • 9.48 % has come from your subscription level
  • 36.09 % has come from your bonus units
  • 50.80 % has come from upvoting rewards
  • 3.63 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @alaysiababin!

  • you have 92 units and 0 bonus units
  • your rshares balance is 2454929757346 or 1.560 $
  • as you did not wrote a post within the last 7 days, your comments will be upvoted.
  • your next SBI upvote is predicted to be 0.062 $

Structure of your total SBI vote value:

  • 38.17 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 59.85 % has come from upvoting rewards
  • 1.98 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @darklands!

  • you have 52 units and 158 bonus units
  • your rshares balance is 3002076899662 or 1.897 $
  • your next SBI upvote is predicted to be 0.379 $

Structure of your total SBI vote value:

  • 8.66 % has come from your subscription level
  • 20.90 % has come from your bonus units
  • 69.98 % has come from upvoting rewards
  • 0.46 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @r2cornell!

  • you have 1817 units and 850 bonus units
  • your rshares balance is 80635748852975 or 51.244 $
  • your next SBI upvote is predicted to be 10.249 $

Structure of your total SBI vote value:

  • 43.88 % has come from your subscription level
  • 36.09 % has come from your bonus units
  • 19.97 % has come from upvoting rewards
  • 0.06 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

!sbi status

·

Hi @mytechtrail!

  • you have 59 units and 0 bonus units
  • your rshares balance is 281233919102 or 0.178 $
  • your next SBI upvote is predicted to be 0.036 $

Structure of your total SBI vote value:

  • 66.15 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 6.10 % has come from upvoting rewards
  • 27.75 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @felixgarciap!

  • you have 110 units and 0 bonus units
  • your rshares balance is 307278715221 or 0.194 $
  • your next SBI upvote is predicted to be 0.039 $

Structure of your total SBI vote value:

  • 86.80 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 3.05 % has come from upvoting rewards
  • 10.15 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @upvotebuilders!

  • you have 37 units and 0 bonus units
  • your rshares balance is 141126704023 or 0.089 $
  • your next SBI upvote is predicted to be 0.018 $

Structure of your total SBI vote value:

  • 83.25 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 0.00 % has come from upvoting rewards
  • 16.75 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

Posted using Partiko iOS

·

Hi @alfonzo!

  • you have 1 units and 0 bonus units
  • your rshares balance is 104039591098 or 0.066 $
  • your next SBI upvote is predicted to be 0.013 $

Structure of your total SBI vote value:

  • 16.81 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 26.35 % has come from upvoting rewards
  • 0.00 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

Posted using Partiko iOS

·

Hi @cst90!

  • you have 12 units and 0 bonus units
  • your rshares balance is 284230395502 or 0.180 $
  • your next SBI upvote is predicted to be 0.036 $

Structure of your total SBI vote value:

  • 49.75 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 33.15 % has come from upvoting rewards
  • 17.11 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @joanstewart!

  • you have 31 units and 25 bonus units
  • your rshares balance is 623838534057 or 0.394 $
  • your next SBI upvote is predicted to be 0.079 $

Structure of your total SBI vote value:

  • 35.76 % has come from your subscription level
  • 32.13 % has come from your bonus units
  • 28.24 % has come from upvoting rewards
  • 3.88 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @trayan!

  • you have 7 units and 0 bonus units
  • your rshares balance is 85218126170 or 0.054 $
  • you need to wait until your upvote value (current value: 0.011 $) is above 0.012 $

Structure of your total SBI vote value:

  • 95.29 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 0.06 % has come from upvoting rewards
  • 4.66 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @steemstreems!

  • you have 61 units and 501 bonus units
  • your rshares balance is 4549627692577 or 2.837 $
  • your next SBI upvote is predicted to be 0.567 $

Structure of your total SBI vote value:

  • 4.08 % has come from your subscription level
  • 55.63 % has come from your bonus units
  • 39.95 % has come from upvoting rewards
  • 0.33 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @tomhall!

  • you have 13 units and 125 bonus units
  • your rshares balance is 3958906363487 or 2.500 $
  • your next SBI upvote is predicted to be 0.500 $

Structure of your total SBI vote value:

  • 2.14 % has come from your subscription level
  • 26.51 % has come from your bonus units
  • 70.49 % has come from upvoting rewards
  • 0.86 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @lennstar0de!

  • you have 113 units and 0 bonus units
  • your rshares balance is 3197877015639 or 2.008 $
  • your next SBI upvote is predicted to be 0.402 $

Structure of your total SBI vote value:

  • 95.79 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 4.21 % has come from upvoting rewards
  • 0.00 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

·

Hi @scilwa!

  • you have 809 units and 0 bonus units
  • your rshares balance is 10659014451982 or 6.773 $
  • as you did not wrote a post within the last 7 days, your comments will be upvoted.
  • your next SBI upvote is predicted to be 0.241 $

Structure of your total SBI vote value:

  • 82.37 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 17.13 % has come from upvoting rewards
  • 0.49 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz