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Late Labs – Trading Code for Equity

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Hardcore coders or hackers are an enthusiastic lot; symbolizing effervescing energy. But having the talent does not confirm ‘incoming- dinero’. Always on the look- out for more challenges, projects and enterprises, they fail to connect with the much needed resources.

Late Labs

Apart from those looking for work, there are people who are looking out for ‘people’ to do their work called Hustlers.  Late Labs brings these hustlers and hackers together creating an amazing web of ideas and resources, giving you codes and apps imbibed with creativity and zapping efficiency.

Late Labs is a crowd sourced community of cool coders. The online platform is a launch pad for developers to apply their time in a collaborative way and in return earn equity. Equity is the new cash!  It takes a long time to get any returns, if any at all, but when it does, it reaps big rewards. Late Labs is pretty much a summation of resource –oriented venture, which provides technical documentation, project management, infrastructure, design, distribution and dinero to make projects a success.

Equity for all the involved parties is calculated based on an “equity fairness calculator” (being worked on currently). As a developer you can connect using your GitHub account or by sending your resume and portfolio through mail. You need to apply for each project individually. The Late Labs team selects you, a budding developer, after reviewing your code. Once selected, you will have access to full project details and including the contract (sounds exciting!) with details of your equity as predetermined by the project lead. Equity will be awarded to the developer after the code is tested and released to the public in beta form. It thrives as much on simplicity as on its challenging aptitude.

Brainchild of co-founders, Justin Elof Johnson and Nathan Ross, the startup has got an enthusiast response with 3.5K people signing up within a month of launch. Late Labs will be running the process, and not the idea originator. But it also has an option for submission of an idea. The concept is similar to Ahhha but unlike them Late Labs only crowdsources coders and not the entire product development process.

Are you a hacker and hope for being a part of the next big thing? Do your efforts aim at trending ideas and do you dream of working with the brilliant minds of Silicon Valley? Here’s your chance.

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