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Maybe I'm slow but am I the only one not getting the point of this at all? Users can already be owners by buying stock. And what exactly is the benefit? Random
by MichaelGG 10y ago
Maybe I'm slow but am I the only one not getting the point of this at all? Users can already be owners by buying stock. And what exactly is the benefit? Random Twitter users are somehow gonna come up with plans on how to make the company profitable (heh how many "monthly fee" proposals will be submitted?)?
Are there examples of large companies converting into a credit union type model?
Why would shareolders want this?
- wbillingsley 10y agoIts worked quite well in a number of areas -- it tends to be good for sustainable growth, rather than adventurism, as the owners are concerned more about keeping the company sustainable and healthy than rapid growth. And the feel-good factor of it being a community organisation means people like to give it their custom. John Lewis, one of the UK's largest retailers (annual turnover about £10bn) with one of the best-respected brand is employee-owned under a cooperative structure. In terms of rescuing businesses from big egos doing badly, Portsmouth FC was rescued by a fan take-over after a number of disastrous owners who'd saddled the club with debt and left it on the verge of liquidation. It's now on a healthier footing and starting the climb back up the leagues. For Twitter, which was in a strong position to become a social utility, it's probably not a bad model. But it doesn't involve going out in a blaze of glory, so executives will hate it.