Peter Thiel Helps Fund an App That Tells You What to Do

'How would you feel about being able to pay to control multiple aspects of another person's life?' asks the BBC.

'A new app is offering you the chance to do just that.'

When writer Brandon Wong recently couldn't decide what takeaway to order one evening, he asked his followers on social media app NewNew to choose for him. Those that wanted to get involved in the 24-year-old's dinner dilemma paid $5 (£3.50) to vote in a poll, and the majority verdict was that he should go for Korean food, so that was what he bought...

NewNew is the brainchild of Los Angeles-based entrepreneur Courtne Smith. The app, which is still in its 'beta' or pre-full release stage, describes itself as 'a human stock market where you buy shares in the lives of real people, in order to control their decisions and watch the outcome'. For many of us that sounds a bit ominous, but the reality is actually far less alarming. It is aimed at what it calls 'creators' — writers, painters, musicians, fashion designers, bloggers etc. It is designed as a way for them to connect far more closely with their fans or followers than on other social media services and, importantly, monetise that connection...

Whenever a vote is cast the creator gets the money minus NewNew's undisclosed commission... In addition to voting, followers can also pay extra — from $20 — to ask a NewNew creator to do something of their choosing, such as naming a character in a book after them. But the creator can reject all of these 'bids', and if they do so then the follower doesn't have to part with the money...

Co-founder and chief executive Ms Smith, a 33-year-old Canadian, has big plans for NewNew, and has some heavyweight backers. Investors include Peter Thiel, the billionaire co-founder of PayPal, and the first outside person to put money into Facebook. Others with a stake in the business include leading US tech investment fund Andreessen Horowitz, and Hollywood actor Will Smith (no relation to Courtne). Snapchat has also given technical support.

Read more of this story at Slashdot.