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Twitter co-founder Biz Stone joins board of Mastodon's new US nonprofit | TechCrunch
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this post was submitted on 30 Apr 2024
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I have first-hand experience, actually too much of it. Feel free to conclude anything, you can even set up a worker coop and get your own data; be the change you want in the world, and all that.
So anecdotal? Have you worked in a worker’s coop? It’s hard to see how some workers taking advantage of others would be worse than the owner taking advantage of them but if you have seen it maybe you can explain how.
I've had family fund one, worked for some as a contractor, and had friends work for some more. They're all bankrupt now, and all of them for the same reason I've already explained.
It's worse than working for someone else, because they're funded by the workers themselves. When a worker's coop goes down, workers not only lose their jobs, but also all the capital they've put into it. Some fall into a sunken cost fallacy, try to refloat it... but without fixing the fundamental problem of having owners (workers) who don't care about the business, they eventually lose even more capital, often get in debt, and also lose their jobs.
When an owner takes advantage of a worker, at least the worker can look for another job without having to pay for the privilege.
Coops work well when members are business-savvy, and when they have a very limited scope with minimal capital investment, allowing members to leave at any time with minimal loss.
Ok, this doesn’t seem to be the overall picture in the economic literature but thanks for sharing your experience. Given that, I can see why you hold those views.
I don't know about literature, but both the lawyers and notaries involved, warned everyone of the risks. I was also an idealist and skeptical of their advice at the time... then spent several years trying, to no avail, to make people understand what was at stake... until the warnings became reality... and again, and again, and again.
If it's not in the literature, then it should be.