Throw out the rule book for 2017.
Every morning I check the tech and business headlines fearing to see “XYZ Corp buys Twitter”. So this morning I had a thought, well more than a thought, more like a daydream of sorts. Why can’t the people who love Twitter buy it and save it? FYI -I’m not talking about taking it over and getting rid of everyone.
Here is Why We Can Do It (I’m writing this on the fly before we hit the road so bare with me).
- Crowdsourced community decisions based on an agreed upon mission will make better decisions that a large corporation who is trying to get in the social game (remember Myspace and Time Inc.)
- Who better to own something than the community who uses it!
Time Inc Acquires Viant, Owner Of Myspace And A Vast Ad Tech Network | TechCrunch It looks like Myspace is becoming a big-media property once again. Today during its quarterly earnings report, Time Inc announced that it has acquired Viant, a profitable company that has built a large ad tech business, but also owns other properties, including once-hot social networking site Myspace. As part of it, Time Inc will become a majority owner of Viant, with the Vanderhook family, which founded Viant, retaining a minority stake (percentages undisclosed).
How would we manage it and make decisions?
Several successful companies and organizations have implemented a “self-organizing” structure that makes this possible. Will it be easy? No. Is it possible? Yes. Let’s make history and save an amazing social platform from the sure death of corporate acquisition.
What is Holacracy? | Structure & Process: Organisational Development Updated: August 3rd 2016 “Holacracy is a real-world-tested approach for structuring, governing, and running a purpose-driven, agile company. Holacracy ensures an efficient, constructive and clear process for this process of self-organisation. How the journey of such a self-organising company can then unfold is described in Everything Changes… Holacracy im Arbeitsalltag (article in German). You can access our public governance records here and see our roles, policies and meeting history.
Holacracy – A complete system for self-organization The traditional hierarchy is reaching its limits, but “flat management” alternatives lack the rigor needed to run a business effectively. Holacracy is a third-way: it brings structure and discipline to a peer-to-peer workplace. Learn How It Works
How Would We Raise The Money?
- Crowdfunding sites like Kickstarter
How Would We structure the “New Twitter”?
- I’m not an attorney but I’m thinking a “Not for Profit”
Who Will Be the CEO?
- I don’t Know, the owning community would have to decide this by going through a process of sorts. (It will help once everyone learns about how Holoacracy works)
How much stock do we need to buy?
- Working on this question now, but in theory, 50.1% of its stock but some companies are structured in such a way that you only need to 20-25% to have effective control.
- As of Oct. 27, 2016 there are 714.90M outstanding shares of TWTR.
- Current Stock Price is $18.22 (keep in mind this price fluctuates).
- To get 50.1% of the shares at 18.22, we would need roughly 358.2 M shares (I’m doing this on the fly so jump in and correct me), So we would need to raise 6,525,8 M ..Do that sound correct?
- Is Twitter worth that much? That is an entirely different question. We are not buying Twitter as a traditional investment, so the typically ROI calculations don’t really apply.
- But, We would need to to keep Twitter Running and where is that money going to come from?
TWTR Major Holders | Insider Transactions | Twitter, Inc. Common Stock Stock – Yahoo Finance Common Stock (TWTR).”,”og:title”:”TWTR Major Holders | Insider Transactions | Twitter, Inc.
Like I said, we are about to hit the road in our RV and head back to Vegas, but please share this and let me know what you think.
Sorry for any misspellings and just plain bad writing. This idea just hit me and I need to get it out! More to come…