> Or did you have something else in mind when you meant farm co-ops are capital intensive? I disagree with your characterization: it's the potential sharing of

> Or did you have something else in mind when you meant farm co-ops are capital intensive? I disagree with your characterization: it's the potential sharing of capital expenditures (for storage, processing, distribution and advertising) that drives cooperation. In many cases these costs are far more than software-based services. Cooperatives of this nature often have significant capital contributions required for membership. > True but bonds don't exist in a vacuum and must compete with other alternative investments including other bonds by other businesses/governments. Agreed. I would note our current legal environment makes it challenging for cooperatives to raise capital since most of their potential contributors, who see the community "main street" value, are effectively prevented from becoming investors, even if they are willing to do so. Retail investors have their arms twisted (401k) to put their savings into the stock market... rather than into main street. Moreover, since they are not often SEC qualified investors, they are prevented from investing even if they wish to do so. There are some limited exceptions for local organizations, but these rules are hard to navigate. These barriers to capital should be addressed.