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Created from scratch probably means someone with a lot of money beforehand decided to do it. The same study calls coop formation rare, and it's hard to control
by hot_gril 3y ago
Created from scratch probably means someone with a lot of money beforehand decided to do it. The same study calls coop formation rare, and it's hard to control things when you're sampling a rare case.
- MrJohz 3y agoThat's true of conventional businesses too, though. It's not like banks hand out loans to anyone who walks in off the street with grandma's best bolognese recipe.
- hot_gril 3y agoEven more money for the coop, though. Like, enough to not need other investors/banks.
- MrJohz 3y agoCoops also use banks and can have investors.
- hot_gril 3y agoA business with stakeholders who aren't employees is not a co-op.
- MrJohz 3y agoThat is a very unusual definition of worker co-ops.
- hot_gril 3y ago"A worker cooperative is a cooperative owned and self-managed by its workers" is what Wikipedia says. If investors are given stake in the company, it no longer matches that definition. It's not just a technicality, it changes the incentives to being for the profit of the investors.