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There is something uncanny about offering 5K USD max, or 10K award pool in hackathons targeting the emergent economies, the Global South, Near East, South Eastern Asia etc.
Majority of those people are not "poor" compared to the first world peers just because of exchange (dis)parities. Many are dealing with extreme volatility day-over-day, hyperinflation, and a low purchase power, which renders even the Eurodolllars, US dollars or even petrodollars feeble with even lower purchase power in the process.
That is, you won't have any meaningful hackers unless they're truly at the edge of starving or some poseur looking for another easy parlay deposit into the prediction markets.
In fact, you can read Scott Alexander's "Information Markets, Decision Markets, Attention Markets, Action Markets" from 2012 to make sense of this from another perspective re: incentives. 3 replies
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