It's none of these things. We're talking about financing a commercial enterprise by people far wealthier than myself. What we have here are rich people trying to set up a system where they are rewarded for their part of the investment, but the little guys are not. That is cynical profiteering. I'm saving my $25 donation for a worthy non-profit cause, thank you very much.

Given Mr Stephenson's extremely solid knowledge of the foundations of capitalism (e.g. the System of the World trilogy) it seems especially rich. Or maybe he learned a thing or two while writing that.