100% of your money goes directly to CommitLock if you fail your commitment.
Some people have suggested that the proceeds from any losses should go to charity, as that would be their preference. However, you liking where the money goes isn’t really our aim here and runs counter to the product. The entire purpose behind commitment contracts is to not pay any money. You are not supposed to feel comfortable with losing your money.
Running CommitLock costs money for development, advertising and to have people manually review your proof. The intent of this product is to expand, build a community of doers and reach as many people as possible. Forfeiting all potential revenue is not a very good way to accomplish this objective.
Your money going to a harmful cause would definitely increase your motivation, however we don’t want to be directly responsible for money being sent to a terrible cause. Additionally we aren’t attempting to operate as a non-profit as stated.
We understand this is a very paradoxical business model. A service that aims to help you but only profits if it fails you. This could fairly draw some skepticism. Isn’t it in our best interest for you to lose?
No, not really. Even if our business model relies on some level of losses, having a product that works and allows you to complete your goals is the only way this spreads and reaches more people, which is ultimately more profitable for us. If everyone was losing or we were purposely ruling against you, not only would that cause issues with payment processors, but it would ensure that nobody ever trusts or uses the product again.
Having it a functional and trustworthy product that you would use many times throughout your life and happily suggest to friends is what is in our best interest. It would be rather short sighted to assume that everyone losing is in anyone’s best interest.