Seeing all the end-of-month #Patreon chatter, I'm wondering how close we are to a #UserOwned alternative?
The model is absolutely a key piece of the future of support for creative endeavors, but with $47.1MM in #Unicorn-hopeful VC to pay off, it's rate of #extraction can be expected to ramp up in coming years. I know #Gratipay seems like it has some of the pieces (but is still a ways off); anyone aware of other promising #platformcoop versions?
I think we are moving away from #UserOwned . (Some folk pointed out we should use word "member" instead of "user" and I like it a lot).
If so many people rely on #Patreon where should the influx of the external money come from? Won't the providers become real owners?
@saper @ntnsndr @KevinCarson1 @mayel
It depends on how the #investment #capital is structured - the #coop movement has a fair amount of experience w/ being able to take outside investment while keeping capital subordinate to use. The #EqualExchange #workercoop has been an innovator in the US with their use of non-voting preferred shares that received a dividend, but not capital gain: https://equalexchange.coop/how-equal-exchange-aligns-our-capital-with-our-mission
A healthy #coop model (if understand it correctly) is that all members provide a bearable, equivalent contribution towards the common goal. (Please correct me if needed)
If money shifting comes from individual members to individual members we immediately create two classes of donors and beggars. And there is no place for cooperative decision making (with its advantages/disadvantages).
@saper @mayel @KevinCarson1 @ntnsndr
Navigating outside #capital is tricky for #coops for sure; do it wrong, and face #demutualization.
The key is distribution of voting power, IMHO - so long as all #governance control is exclusively vested in the 1 member, 1 vote co-op shares that provide return on patronage (not capital), then outside equity in a #coop behaves more or less like #SubordinatedDebt.
@ntnsndr @KevinCarson1 @mayel @saper Basically, outside investors get their limited return on capital (say, 5%) until the user-members decide to allocate some of their additional surplus to buying out the investors, which the #coop may do @ any time. Over time, if successful, the #investor class' "hired capital" is drawn extinguished and the coop distributes its full surplus as #patronage.
Good doc covering some of this: https://www.youtube.com/watch?v=ZfaFriFAz1k
I am afraid we are talking about different things :( sorry I can't make myself a bit more clear.
Matt Cropp 🌲🌲
Marcin Cieślak