Transform Finance

??While it's crucial to highlight the problems with billionaire-owned media, it's just as important to build viable alternatives. ??This Poynter Institute, featuring insights from Nathan Schneider, offers a great overview of the benefits and challenges of worker cooperative models in media: https://lnkd.in/gjiQ_E7K ??Other strategies, like structuring ownership through a trust, multiple share classes, or a golden share, can help ensure a company's long-term commitment to its mission. Examples include Berrett-Koehler, The Inquirer & Mirror, and even The New York Times (to some extent). ??Building a media business is tough—especially in a landscape where digital giants dominate ad revenue. But from my experience at New Media Ventures (NMV), I know it's possible. The media leaders who thoughtfully design their ownership structures alongside building a strong business will be the ones who thrive for the long haul.

“Why is Transform Finance so focused on Shared Ownership right now?” is a question I get asked these days. I get it – there is a LOT to change in our world right now, and shifting ownership rights might seem a bit specific. But when I look at what’s happening right now with our government and our economy overall, I see a road paved by wealth and ownership inequality. In our economy, certain people are able to amass massive amounts of wealth – usually at the expense of others. And as we veer harder towards plutocracy, these people leverage their economic capital for real political power. Most Americans – especially those who are not given opportunities to own their place of work, their home, or any assets in the economy, really – are so frustrated and exhausted that it's understandable how many believe in the deceptive, often divisive messaging of the plutocrats. It’s a vicious cycle that has been spiraling for decades, and now these plutocrats are literally in the White House. Does this happen if economic value is actually spread beyond just a small number of founders and investors? If workers and communities had some sort of say in how the economy is run, what is valued beyond profit, how their workplaces are managed, or how their communities are shaped by capital? I don’t think it does. These are the thoughts going through my head as I and my TF colleagues plan our upcoming work, which, unsurprisingly for those following us recently, includes a lot on Shared Ownership. Specifically, we’re continuing to develop the capital infrastructure for Alternative Ownership Enterprises, like Employee Ownership, and are now also working with peers to support communities developing Shared Ownership in housing, commercial real estate, and land. There are many compelling arguments for these models, and I figured it could be helpful for our growing audience to get a sense of how these topics fit in with our history, our broader vision, and where we see ourselves going with our peers. My thoughts are formed in this new piece up on our site. Please take the call to action at the end to heart – we want to weave all of our audience’s voices into this network. https://lnkd.in/e-hw32zb

Join us for our next Underwriting for Racial Justice Quarterly Meeting: Financing Employee Ownership to Advance Racial Equity. This dynamic session aims to equip lenders with the tools and insights to navigate the unique challenges and opportunities of financing employee-owned startups and conversions to employee ownership (EO). Join Dorian L. Gregory, CPA from Cooperative Fund of the Northeast, Julian S. McKinley from The Democracy at Work Institute, Julie Menter from Transform Finance, and Henry Noel Jr from Boston Impact Initiative to explore how EO can be leveraged as a powerful tool to advance racial equity. This session will include successful strategies, deal structures, and public-private partnerships that drive growth in EO initiatives. ?? Date: Wednesday, January 22nd, 2025 ? Time: 9 am PT / 12 pm ET Let’s reimagine finance as a tool for equity and inclusion: https://lnkd.in/gTA4gXAj?

I had so much fun talking about alternative ownership structures, chocolate and whether oceans would be better off if they were owned and managed collectively with Jahed Momand! Spoiler alert: stewardship > ownership. Thanks for featuring Transform Finance's research on The Ownership Economy podcast! Check-it out and let me know what you think: https://lnkd.in/ga7nW9nS

Curt and I just wrapped up an intense and productive SOCAP Global conference. Some highlights: 1) Ownership investing continues to gain momentum! There were several great panels and many side events focused on the topic, including an employee-ownership focused investor briefing we co-hosted with Alison Lingane. The energy and sense of possibility was palpable ?????? 2) Deepening and expanding connections! From structured events to fortuitous connections in the Yerba Buena gardens, it was fun and productive to catch-up with many across the impact investing ecosystem. We loved seeing our community come together on Monday evening at the spooky Hawthorn Lounge ???? 3) There continues to be a productive tension between those who advocate for "doing well by doing good" and those calling for transformative investments that put impact, not returns, first. Particularly appreciated the Catalytic Capital Consortium session which wrestled with this tension and what to do about it.

Are you attending the Opportunity Finance Network conference later this month? If so, I hope you'll join the Cooperatives 101 session I'm moderating on Tuesday 10/22 at 4pm ?????? ?? We'll explore the how cooperatives can drive inclusive growth, resilience, and address racial wealth disparities. We'll also share tangible case studies, provide insights into successful models, and offer practical advice on how to effectively find, finance, and support cooperatives. ?? This is a great opportunity to learn from leading experts in the field: Alison Powers of Capital Impact Partners, John Holdsclaw IV (jhiv) of Rochdale Capital and Stacey Smith of Project Equity! ?What questions would you like this panel to answer?