First off, +1.
Aaron Dignan
1

(Makes me think of Initech.)

I love the idea of looking at one or more of the following:

  • Employee ownership (could look at closely held firms, maybe?)
  • Share of compensation that comes from stock
  • Share of employees’ portfolios devoted to employer shares

I know that the Maximize Shareholder Value concept breaks down in terms of driving good behavior, but I think it’s still a worthwhile counterpoint to other influences, including personal, customer, and societal needs.

50% isn’t entirely arbitrary for the founding cohort (effectively “management” until constitutional constraints are in place). Our Founder shares have a 2x voting right, which means that once all shares are issued, the Founders don’t have an automatic super-majority for changing corporate status — an event that would only happen if selling the firm. But it does allow the Founding group to push through critical changes to bylaws, etc. that are consistent with the vision and intent of the creation of the firm in the early going.

(If we are so lucky to make it there, in the longer term, I envision a stable state of one share per employee, similar to a cooperative, achieved through buybacks.)

Not sure if the portion held for founders moves up or down depending on the scale of the founding team — I can see the logic on both sides.

Like what you read? Give CPJ a round of applause.

From a quick cheer to a standing ovation, clap to show how much you enjoyed this story.