“All of those for whom authentic transformation has deeply unseated their souls must, I believe, wrestle with the profound moral obligation to shout from the heart-perhaps quietly and gently, with tears of reluctance; perhaps with fierce fire and angry wisdom; perhaps with slow and careful analysis; perhaps by unshakable public example-but authenticity always and absolutely carries a demand and duty: you must speak out, to the best of your ability, and shake the spiritual tree, and shine your headlights into the eyes of the complacent. You must let that radical realization rumble through your veins and rattle those around you.”
Ken Wilber

Loomio: Redeemable Preference Shares


I am not yet a fan of the product but a long standing fan of the company, how they came into existence, operate and now how they have approached funding:

“Redeemable preference shares … a way of providing a fair return to investors while also protecting our social mission …

Redeemable preference shares are a fairly conventional financing instrument, but aren’t widely used in the startup world. “Redeemable” means that the shares are not traded externally. Instead, the shares are eventually purchased (“redeemed”) by the company with an agreed-on return, after an agreed-on period of time, provided the company is producing sufficient surplus. In our case, setting up the investment mechanism meant creating a new class of impact-investor shares. These shares sit alongside the worker-member shares in the cooperative, which are non-financial governance shares. The interests of the company and the interests of investors line up.

In terms of accountability, we work closely with our investors as trusted advisors. We take their input seriously, and if they ever feel we’re getting off track, with our business or our social impact focus, then we’ll engage in deliberation to come to a shared understanding. But the bottom-line decision-making sits with the cooperative. And our investors are comfortable entering into a collaborative relationship on those terms.

This trust comes from a strong sense of alignment with a shared social mission, and from the shared risk in the development of Loomio. There has been a huge amount of unpaid time on the part of the founders and workers, so they’re carrying risk just like our investors do. Clearly, the founders aren’t aiming to get rich quick and walk away, so it feels much healthier than the strained founder-investor relationships you sometimes see in the conventional startup world.”



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