Wednesday, April 15, 2015

Time to Make History - Message from Alex Huff

Dear Members,

Today marks an extremely significant milestone for us, the GALT.io community. The first Mission (https://www.galt.io/missions/NoGasTax/) is coming to an end and as a result we will have billboards, video and audio ads that have been funded and will put pressure on the politicians to hear our collective voice.

Although it may seem somewhat trivial, this is a truly historic event. Our community has created a first-of-its-kind political organization based around small donations going directly toward outreach that is 100% directed by members. This is a fully automated Super PAC that has the potential to change the trajectory of our politics and our country by giving a voice back to the people to protect THEIR OWN SPECIAL INTERESTS. I am honored to be a part of it and want to answer some questions to shed further light on where we are in the process, decisions we’ve made and why.

Why the No Gas Tax Issue? Why Minnesota?
The reason we have chosen the topic and jurisdiction we have for this first Mission is to test the system, specifically the Federal & State Campaign Finance regulations. The advent of Super PACs opened up the door to be able to do this kind of direct advocacy, but the rules are different for Issue Advocacy, Independent Expenditures and Campaign/Ballot Initiatives compounded by Federal, 50 State, 5-7 Pseudo-state and a dozen or so major Municipalities. Due to the ridiculous nature of this matrix of laws, we wanted to go through the process of filing, reporting and executing this first Mission with the least complexity possible, so we chose a single state issue that is strictly issue advocacy.

The Mission ends tonight, what happens next?
The NoGasTax Mission will end tonight at 11:59 PM CDT. Once the clock strikes midnight, the Mission will transition into the “Rescue” phase. The Rescue will show the funds raised for each Spending Proposal with the included Unallocated funds. The unallocated funds will be distributed amongst the proposals based on the percentage of Allocated funds each proposal received. (example:  before the Rescue, Proposal A has $750 pledged, Proposal B has $250 pledged and the Unallocated pool has $100. The Unallocated pool is split 75/25. Proposal A's total = $825, Proposal B's total = $275). Then the Rescue begins. Members can reallocate their donations, add more funds and rally around the proposals they want to meet their goals by sharing it with others. The Rescue will continue for 5 days and the Mission will be complete at 11:59 PM CDT on Monday, April 20, 2015.

What happens after the "Rescue"?
Once the Mission is complete, all funds will be distributed to the Proposals. Proposals that do not meet their goals will have the funds allocated to them returned back to the pool and reallocated until all funds are distributed to successful proposals. Once that process is final, the funds will be distributed to the Producers/Vendors and the ads will be created and broadcast schedule set.

What happens after the No Gas Tax Mission is complete?

After the Mission is complete, the ads run and the politicians are put on notice, we will have a short cooling off period where we see what the implications of these actions are from various Campaign Finance agencies. We will take that, along with gathering the data from ALL jurisdictions and create the first standardized Campaign Finance reporting platform and then ... open it up to you. This will allow any member to create a Mission, get it funded, receive proposals from vendors and essentially run their own Super PAC within the share technology and legal infrastructure. We are giving you the same power to shape our country that is currently reserved for Billionaires.

Please join me in making this first shot across the bow as big as it can be. Fund the Mission and/or Proposal of your choice. Call, email, text, tweet, fax and tell all your friends and ask them to be a part of this historic event too. 

I welcome your comments, questions and feedback. Please feel free to contact me at alex(at)galt.io.

Sincerely,

Alex Huff
President/CTO
GALT.io

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