Ways to improve the ownership economy — Mirror

While musicians faced an existential crisis during a pandemic, Spotify CEO Daniel Ek’s ownership stake in Spotify climbed to be worth over $4 billion. In order to earn $4 billion, a musician earning the median wage of $25,000 would have to work for 160,000 years – in other words, they’d have to have started working before human history began.

Some questions to consider:

To create stronger community ownership, web 3.0 networks should move away from resourcing startup capital from centralized, opaque, and hierarchical VCs

One of the most overlooked elements of ownership in the web 3.0 space is financial transparency, particularly regarding investments and agreements. If the goal of "progressive decentralization" is to transition to community ownership, it would seem incongruent for early stage investments terms to be hidden from the community.

Disclosures of compensation within crypto networks should become a core standard in order to demonstrate real community ownership.

Web 3.0 usage of the word "ownership" carries similar risks to the web 2.0 usage of the word "democracy".

For networks that aim to be community owned, there should be some form of codetermination at the outset, allowing community proxies or representatives to be involved in treasury-related decisions -- particularly around token allocation.

Ownership can be understood as a proxy for two things: decision making power and financial power. This suite of benefits includes the ability to have a voice in the direction, strategy, operations, or fate of a company; as well as the ability to capture profits and the value of its equity and assets.

Who decides how tokens are allocated?

If Apple were structured as a worker-owned cooperative, the ownership stake of each of its 150,000 workers would be worth over $15m. On top of that, each employee would receive an annual dividend of over $400k. Ownership creates wealth, and its concentration helps create wealth inequality.