Loomio
Fri 24 Mar 2017 9:48PM

#BuyTwitter is going up for a vote – help us win!

DS Danny Spitzberg Public Seen by 136

Great news, birdies:

Thanks to you, Twitter has a chance to become a user-owned co-op. Imagine if the "people's news network" was democratically owned!

In April and May, Twitter shareholders will be voting on our resolution: to study the advantages of converting to democratic ownership. They’ll call the vote at the annual meeting at Twitter HQ, on May 24th or 25th. Most votes will made via proxy, especially for shareholders that have a large amount of stock in Twitter. Ideally, we win with 51% or more of the vote – and if we want to learn from this process and make a stronger proposal for 2018, we need at least 3%!

If we win this vote, Twitter will commission a report to consider a transition to a more equitable kind of shared ownership, something like the models that have made the Green Bay Packers, REI, and the Associated Press so popular, profitable, and trustworthy. Better information means better business decisions for shareholders.

Our small group of volunteer organizers has come a long way to get here. Our strategy for winning this vote is to run an awareness campaign. We’ll focus on a few big shareholders like the California pension fund, which value democratic ownership.

Want to help us win? Here’s how to get involved:

1) Follow https://twitter.com/BuyThisPlatform
2) Tweet your vision for a user-owned Twitter using #WeAreTwitter #BuyTwitter
2) Become a shareholder! You can attend the annual meeting at Twitter HQ, and vote! Buy a share of Twitter stock from a stockbroker, or take 5 minutes on https://robinhood.com or https://loyal3.com. Note: the deadline to buy stock and be counted as a shareholder is March 30th.

Want to get more involved? That’s great! This campaign goes live on Monday, April 10th. We need help building a new website, writing fresh analysis supporting our proposal, and getting featured in press and media. Please join our organizing group for a call on Wednesday, March 29th at 10am Pacific Time – RSVP at https://goo.gl/forms/36Bewf2Y64Wm2Wux2.

Excited? Have questions? Comment below, or email [email protected].

This small group of volunteer organizers has come a long way to get here. Thank you again for helping us get this far.

Onward!

DS

Poll Created Fri 31 Mar 2017 11:02AM

Do something you love with #BuyTwitter Closed Mon 3 Apr 2017 1:02AM

Outcome
by Danny Spitzberg Tue 25 Apr 2017 5:50AM

It's been a terrible 24 hours for news, from Syria to the US Supreme Court. But yesterday morning, Twitter co-founder Ev Williams announced on Medium that even after selling some shares, he'll still own 3% of the company.

What next on this thread? Well, now that #BuyTwitter is going up for a vote, our strategy is to find major shareholders to declare they'll vote Yes. If a major shareholder like Ev publicly considers voting Yes to #BuyTwitter, we'll win news headlines – and maybe, win the vote.

🐣 Here's one more outcome: please retweet this three-part tweet @ev https://twitter.com/BuyThisPlatform/status/850349095914840065 (Amazingly, this tweet is currently sitting at the top of search results for $TWTR)

Next up, we need help finding more major shareholders to reach. Please comment below if you or someone you know can help identify targets and connections.

If you've been waiting to get involved in #BuyTwitter, no time like the present. I propose everyone does something we love that helps bring #BuyTwitter to life.

Want the short version? Here you go:

Read about how you get collaborate in this form https://goo.gl/TOjzA8, fill in your info, and Agree, Disagree, or Abstain... or block. This is less than perfect, I know, but hopefully it inspires a few of the 181 organizers here (maybe, you?)!

Want more details? Read on:

1) Notes from our call

We proposed that Twitter explore how it might convert into a user-owned co-op. Voting begins in April and end at the end of May, during the general meeting at Twitter HQ. We need at least 3% of Twitter shareholders to vote Yes. During our call, we reviewed this basic info, the Twitter shareholders we'll target, and the strategies we'll use to reach them. We talked about what could go wrong, and how to overcome those risks. We also shared what we feel is most important for each of us to do, outlined five areas for collaboration, and followed each other on Twitter.

2) What comes next

We're launching our new campaign on April 10! We could really use your help with writing, web design, social media, or anything else you do well and enjoy doing.

Take 2 minutes to see what we're working on and sign up in this form: https://goo.gl/TOjzA8

We'll start making things happen over the weekend, and we'll have another call next Wednesday to support each other. And please share this invite and tweet with people you believe should be included or represented in this campaign, too.

Thank you again for helping bring #BuyTwitter to life. Comment below if you have any questions!

Results

Results Option % of points Voters
Agree 87.5% 7 MC DS AS TAM VZ WC HR
Abstain 12.5% 1 CC
Disagree 0.0% 0  
Block 0.0% 0  
Undecided 0% 240 JV SJ IS ST M JD ML AT RF SP S MS JA JF HC AP JR EF Y JD

8 of 248 people have participated (3%)

AS

Alvaro Solache
Agree
Fri 31 Mar 2017 9:23PM

Kmoon

DS

Danny Spitzberg
Agree
Fri 31 Mar 2017 11:52PM

I'm in it to win it ^

WC

William Cerf
Agree
Sun 2 Apr 2017 3:19AM

I'm thrilled to see us moving forward.

CC

Chris Cook
Block
Sun 2 Apr 2017 9:51AM

If the phrase 'user-owned' is deleted I will support the proposal. There is simply no need to specify the type of Co-op at this point and to do so unnecessarily closes off options.

CC

Chris Cook
Abstain
Sun 2 Apr 2017 3:42PM

If the phrase 'user-owned' is deleted I will support the proposal. There is simply no need to specify the type of Co-op at this point and to do so unnecessarily closes off options.

CC

Chris Cook Sun 2 Apr 2017 9:50AM

I was travelling and unable to participate in the recent conversation. I feel strongly enough about the proposal as drafted to have Blocked it (never done that before - there's always a first time)

I feel strongly that to specify 'User-owned' is unnecessary and rules out ab initio other forms of Co-op such as a Platform Cooperative co-owned by users and other stakeholders such as staff and management in particular.

Experience of sizeable user-owned Co-ops in the UK - particularly in recent years - has been negative, in that they invariably become corporate in behaviour (eg in treatment of staff) and run for the benefit of management, privatised or worse. cf Coop Bank.

So I would be happy to support this proposal if the phrase 'user-owned' is deleted because its use closes off Co-op options which IMHO could be left open and explored at no cost to the proposal.

DS

Danny Spitzberg Sun 2 Apr 2017 2:11PM

Thanks, Chris. I appreciate the concern.

Good news: The phrasing has already been changed to make the idea more open-ended, if you look at the revised petition at https://wearetwitter.global

NS

Nathan Schneider Sun 2 Apr 2017 3:05PM

@chriscook1 @timothyamcdonald I would just note that this proposal is quite open-ended, and it doesn't preclude employee ownership as part of the mix. In a document we're preparing for shareholders, we encourage considering employee owners as part of the process.

However, Twitter generally has a well-compensated, highly skilled workforce who have not so far expressed grievances about a potential sale, as users have. The company also has the data of hundreds of millions of users who have no say in the fate of that data. Users also represent a capitalization opportunitiy (which is crucial for making the case to shareholders), while the employee pool is likely not large enough to do so. I think it's strategic to emphsize users in the publicity (which needs to be as simple and direct as possible, appealing to the broadest number of people), but in the details to make sure that employees are part of the conversation as well.

In the event that this isn't satisfying to you, @chriscook1, can you specify what you intend with your block? That nobody in this group should be participating in supporting the current shareholder proposal? A block is obviously very serious, and so it's crucial that we understand what your intention is, given the ongoing progress and process of this campaign, rather than simply using it as a form of protest vote.

CC

Chris Cook Sun 2 Apr 2017 3:32PM

@ntnsndr Naturally the Twitter user base is a great place to look for investment, and I take your point about employees.

Simply put, provided it is clear that ownership will be democratic but will not be exclusive to users - which is how 'user-owned' speaks to me - I'm cool and withdraw the block.

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