Nic Laflamme

HostageFund — Reach your fitness goals by making it too expensive to quit

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Force yourself to finish what you started with HostageFund.
Make a commitment, endanger your dollars and make it unaffordable to quit.

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Nic Laflamme
Hey everyone! 👋 I started HostageFund as a crazy experiment to get back into shape. I was 6 months-deep into the lockdown and 30 pounds overweight! One day, I just wired a pile of cash to a friend and asked him to burn it if I did not send him daily video footage of my workouts. 💸🔥 I'm posting on PH today so... Obviously, I didn't miss a day and no one burned my money. 💪🏻 --- Fast forward a couple months and I've built an app to help others experience the power of loss aversion and irrevocable commitments. It's not the most polished product yet, but it definitely works. The current commitment-follow-through rate is holding strong @ 100%. 🙌 --- It would be fair to label the product as in a "Beta" phase, but it works! If you have a habit you would like me to hold you accountable to, sign up! HostageFund has worked miracles for me and my early adopters, and I just want to see how many others I can help get back on the wagon! 😊 --- Bonus: I haven't figured out monetization yet, so it's still 100% free to have your workouts reviewed (as long as you don't quit)! ⚠️ Currently, only Canadian dollars can be held hostage but USD support is coming any day now.
Aditya
This is such a novel way of encouraging healthy habits. Kudos to the maker :)
Nic Laflamme
@adityavsc Thanks Aditya! I think "encouraging" is a little soft, we're much more heavy handed in our approach :)
Aditya
@nic_laflamme Hahaha! And I support this approach 🦾
Tom Romanski
Great way to encourage healthy habits!
Nic Laflamme
@barbarian_fit it's a bit extreme, but the end justifies the means!
Tom Romanski
@nic_laflamme I agree. If it works then great! It's a really good take on gamification and motivation for sure.
Ryan Rules
I strangely find myself intrigued by this idea. I also need to lose weight but with no obvious "loss" of not doing it - being lazy it's easy to fall off the wagon. My best motivation was when I was working out with a friend and we encouraged each other. What if the "hostage money" could go into a pot shared with your friend/s and you all agree the same stake for the same activity, those who complete the objectives get an equal share of the total pot back? That way I've got the "friendly encouragement/competition back in my life again... (I would need GBP and EUR support for that to work) I also like the charity/cause you disapprove of too being donated too!
Gorm Labenz
Clever Concept!
Mitchel Pages
Congrats on your launch!!such a smart move
Tom Webb
Another thing you can implement is the money goes to a charity you DISAPPROVE of.
Nic Laflamme
@techtom10 Yup that's the plan
Ian
I'm wondering what happens to the $20 every month? Is that the minimum hostage amount and the total risked goes up by that amount each month? At the end of the period, can it all be withdrawn providing goals are met?
Nic Laflamme
@ianmayman The minimum hostage amount is set a $250 and is returned in full upon completion. (However, I've had members deposit up to $2,000 in their hostagefund) The $20 from the premium membership is a review fee, for the service of having an app verify your commitments.