Strategy Consideration: build platform co-op asset acquisition team/working group
Suresh Fernando
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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!
Nathan Schneider Thu 6 Oct 2016 3:02PM
@alanna any suggestions for how to get more engagement on this decision?
Suresh Fernando Thu 6 Oct 2016 5:31PM
@coopchange @alanna @joshuavial ... maybe Enspiral can hold an online workshop of some sort on the Enspiral case study/lessons in support of this group getting more effectively organized?
Alanna Irving Sat 8 Oct 2016 4:11AM
Some Enspiral people are currently doing a workshop series across Europe & America. If people think it could be useful check out http://open.enspiral.com
Nathan Schneider Sat 8 Oct 2016 4:30AM
Any interest in coming through Colorado at some point? I'd love to host you somehow:) Let's discuss privately.
Alanna Irving Sat 8 Oct 2016 8:39AM
Cool! It's not me who's in the US but some other Enspiral people. I can put you in touch. I'm on a traveling hiatus myself :)
Josef Davies-Coates Fri 7 Oct 2016 2:19PM
I think could be a really useful strategy, especially if aimed at much smaller and less established tech start-ups... there must be LOADS of tech start-up that are still primarily controlled by founders who would've liked to opt for a co-operative structures if they'd known about them and/ or saw a route to raise the finance they needed.
I know of such an example right now where founders and friends still own 75% (which in the UK at least is how much you really need to own if you want to change rules/ legal structure etc again the will of other shareholders who might not like that option).
If we can build a path to cooperation for ventures at this juncture (e.g. before having taken VC money) I imagine we'd soon have quite a large pipeline of projects...
Amelia Rose Khan Wed 12 Oct 2016 2:13PM
I would like to add in that The Washington Post was sold a few years ago and at that time people put up a crowdfunding page to try and buy this. They didn't get the money needed but was interesting to see them go through that.
Josef Davies-Coates Wed 12 Oct 2016 2:33PM
there was a similar effort in the UK to buy The Times, see https://www.theguardian.com/media/greenslade/2014/aug/07/crowdfunding-rupert-murdoch (although most of the related videos/ links no longer exist now)
Josef Davies-Coates Wed 12 Oct 2016 2:34PM
I've not read it, but this new report from the Democracy Collaborative on Strategies for Financing the Inclusive Economy is I guess relevant to these discussions:
Nathan Schneider · Thu 6 Oct 2016 2:58AM
Taking into consideration an off-thread conversation with @arminsteuernagel1, it might be better not to define the organization in terms of users, but perhaps something broader. I don't know. I was just reading Warbasse's Cooperative Democracy (1936), which is highly biased toward consumer cooperation, so that's where my head goes.