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1. Embed this notice
   Ryan Singel (ryansingel@writing.exchange)'s status on Friday, 15-Sep-2023 05:09:03 JST Ryan Singel

   Oakland's soccer teams, Roots (mens) and Soul (women) are selling community shares through crowdfunding.

   Opened yesterday and up to $1.3M

   https://wefunder.com/oakland/

   Not quite the Green Bay Packers model where community fully owns the team, and there's no profit motive in ownership, but close enough for my taste. I want to support, not profit.

   This city deserves and clearly wants a team that's actually loyal. Looking at you Warriors, Raiders and A's.

   #oakland

   • Embed this notice
     feld (feld@bikeshed.party)'s status on Friday, 15-Sep-2023 05:09:01 JST feld

     in reply to
     The Packers model gives you non-voting shares so it's pretty much worthless as a concept. You're just getting Packers official merchandise in the shape of a stock share you can put on your wall. It's so bad.
   • Embed this notice
     feld (feld@bikeshed.party)'s status on Friday, 15-Sep-2023 05:28:47 JST feld

     in reply to
     Why not dividends?
   • Embed this notice
     Ryan Singel (ryansingel@writing.exchange)'s status on Friday, 15-Sep-2023 05:28:48 JST Ryan Singel

     in reply to

     • feld

     @feld
     That's exactly what I want. Maybe something with more community input, but with zero expectation of financial return and irrevocable commitment to staying in place

   • Embed this notice
     feld (feld@bikeshed.party)'s status on Friday, 15-Sep-2023 05:56:12 JST feld

     in reply to
     I wrote a long thing and my just browser ate it so TL;DR -->
     
     Dividends encourage *long term* investment and pays back to the shareholders (community). No taxes at all if held in something like a 401k / Roth IRA.
     
     This ensures the team stays around a long time and people will not want it to leave their community. Discourages trying to move the stock value in the short term just to make a quick profit.
     
     The Packers model is a total scam. It's a capitalist's dream come true. The fake promise of ownership with no responsibility to these owners.
     
     It's no different than a limited edition plushie. Less functional than an NFT. 100% scam. Do not under any circumstances encourage these charlatans and their behavior.
   • Embed this notice
     Ryan Singel (ryansingel@writing.exchange)'s status on Friday, 15-Sep-2023 05:56:13 JST Ryan Singel

     in reply to

     • feld

     @feld
     Because it's not about a profit. People care about the team being successful and tied to their community. Tying a profit motive in warps that.

     For instance, if I think I'm getting a dividend or a return, I'm going to have a motive to support the team raising ticket and food prices, even if that's the opposite of what city residents want out of a team.

     That's what is brilliant about the Packers model