Strategy Consideration: build platform co-op asset acquisition team/working group
Suresh Fernando
Public
Seen by 462
I've been thinking about what is unique about this initiative. This is what I see...
There are a number of different Platform Co-Op initiatives that are in the works, technologies in development etc. What makes this initiative unique IMHO is the fact that we are talking about an ASSET ACQUISITION.
For reasons I've already advanced, I think it's unlikely we will actually be able to purchase Twitter.
What we can do, however, is to put together a team that is interested in looking at other existing platforms/technology based infrastructure assets and exploring acquisition strategies.
This strategy is to be contrasted with building platforms from the ground up. Note that, given the complexity of building a community that can execute a large acquisition, this team will have to have a very broad set of skills; finance, co-operative governance, technology, community infrastructure etc... So what might this look like?
First of all...the Platform Co-operative movement is about creating the real sharing economy. It's about ensuring that the benefits of a platform are shared with the owners of the platform (in contrast to Uber, AirBnB etc.). This team will have to embrace these principles in a formal way since we will be dealing with a constituency that operates formally; financiers, philanthropists etc.
Specifically we will have to operate within the confines of a co-operative structure (that will have to be incorporated somewhere). If we are going to engage investors, we need a representative legal structure.
The biggest challenge will be to put together a strategy that will enable the team to raise enough money to buy a sizeable asset. A portion of the funds can be raised via crowdfunding, but much of it will have to be raised via rich philanthropists, impact investors etc.
What this approach will result in is building a bridge to a number of institutions and individuals that have a lot of capacity. This will have spin off benefits for all of us whatever happens...
Like @bonniefoleywong, I also have a finance background, having spent 12 years in the industry. I spent 7 years as a stockbroker at a large Canadian investment bank and built a $30 million managed asset practice. This was followed by 5 years running my own investment banking group.
Given this, I have a pretty good sense of how these transactions work and their complexity. I would be happy to play a role in shaping this aspect of the overall strategy with whomever might be interested... if pursuing this approach is of interest to others.
I look forward to your thoughts!
Poll Created Wed 5 Oct 2016 11:40PM
Shall we create a platform asset-acquisition co-op? Closed Fri 7 Oct 2016 5:01PM
We seem to be in agreement about this proposal! Let's begin moving forward:
Designing a legal/financial structure for this investment cooperative
Continuing to call for #BuyTwitter as a way of attracting attention to the longer-term effort
Organizing and cultivating an inclusive and productive community of engaged participants
Inspired by the possibility of converting Twitter to a user cooperative, this group is agrees on the goal of forming a cooperative entity designed to pool investment and promote user ownership of online platforms, starting with the opportune moment of Twitter, but not limited to that.
Activities might include:
- Acquisition of social media platforms and conversion to cooperatives
- Part-purchase of platforms for shareholder activism
- Dividends to members, possibly based on patronage (i.e., members might be paid to use the platforms) and shares
- Development of cooperative business models for alternative networks like Diaspora, Demcra, Friendica, GNUSocial
- Mission-driven strategy based on increasing user control and input for online platforms
- Democratic governance
Results
| Results | Option | % of points | Voters | |
|---|---|---|---|---|
|
|
Agree | 100.0% | 15 |
|
| Abstain | 0.0% | 0 | ||
| Disagree | 0.0% | 0 | ||
| Block | 0.0% | 0 | ||
| Undecided | 0% | 236 |
|
15 of 251 people have participated (5%)
Suresh Fernando
Wed 5 Oct 2016 11:56PM
I'm interested in this. I also think that our having a legal structure will give us a 'container' to help us organize. Most importantly it can provide clarity of focus.
We can, of course, pursue other initiatives as well
Chad Whitacre
Thu 6 Oct 2016 1:35AM
Seems the right way to go, especially in light of https://www.loomio.org/d/oEfNmWyF/twitter-to-conclude-sales-deliberations-this-month.
Matthew Cropp
Thu 6 Oct 2016 1:51AM
Yaaaas
Sam Toland
Thu 6 Oct 2016 10:23AM
I think that the overall strategy here is the right one - though I would repeat a statement that I have made elsewhere, having a plan is different from rushing to establish a leadership/legal structure etc. We have a little time to think first.
Catherine Dibble
Thu 6 Oct 2016 4:18PM
Excellent idea! https://consensys.net/ventures/spokes/ could help with logistics. I will be able to help us pivot Twitter (et al) to vastly more valuable directions that tame trolls and don't depend on advertising revenues or related distortions.
john gieryn
Thu 6 Oct 2016 5:25PM
I love the direction this is going. I highly recommend folks peeking at the https://handbook.enspiral.com as a role model for a good governance model for a network of communities as this may turn into; I especially recommend their People's Agreements
Wolfgang Maehr
Thu 6 Oct 2016 5:58PM
I'd like us to focus on infrastructure like Twitter (or Dropbox) rather than service behemoths of Uber/Airbnb, etc.
Stacco Troncoso
Fri 7 Oct 2016 6:28AM
Go for it.
Josef Davies-Coates
Fri 7 Oct 2016 2:16PM
think this could work especially well with smaller less established tech start-up that are on the brink of taking VC money but haven't yet done so...