Startup Idea : Burn or Burn for Entrepreneurs

Like Pact fitness app but for tech entrepreneurs. Entrepreneurs get into groups to form a pact. Each pledges some equal amount of $. Each also submits a milestone (something black & white and measurable--traffic growth, reader list, revenues, etc...) that ALL the others must approve. Then by deadline, each entrepreneur is voted to have either achieved or failed by the OTHERs in the group. The $ from those who fail will go to those who didn't. So they either burn and get their shit together or they will literally burn their $.