It's an interesting concept, but the setup takes away a lot of the incentives that drive people to not have a life for months on end so they can succeed. If a venture succeeds, the people who actually did it only get a fraction of the payoff. If they don't succeed, everything's still okay since they can wait for someone else to succeed and still see a payoff.

If everyone's waiting for another venture to succeed, they're not trying as hard to make theirs succeed.