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Sounds like websites like Open Collective shouldn’t raise VC money in the first place. Now the community needs to make philanthropic donations to bail out the e
by counternotions 5y ago
Sounds like websites like Open Collective shouldn’t raise VC money in the first place. Now the community needs to make philanthropic donations to bail out the equity holders.
- asdfasgasdgasdg 5y agoThey don't need to. They may, if they value whatever they would get in the transaction more than the costs.
- ssivark 5y agoThe irony is that they went to VCs probably because they couldn’t harness the necessary public investment. If they manage to do that now, they would basically have gone through a circuitous route — with anything greater than a 1x return for the VC as a tax on the community investment, compared to direct community fundraising.
- deleted 5y ago[deleted]