3 founders on why they pursued alternative startup ownership structures – ClearTips
There is no one-size-fits-all All models for startup creation.
At ClearTips Disrupt, we heard from a handful of founders about alternative approaches to building a sustainable company that ensures more than this Only the Vice Chancellor and the early founders benefit from its success.
One way a cooperative is being built is described by driver Hayes Witt, CEO of the driver’s seat as “a type of corporate entity that both allows and requires that we make the most of our profits Return the share to our members, and our members have a majority of governance. “
driver seat Ride hail helps drivers Use data to maximize your earnings. It does the necessary work for drivers to install an app that educates them on how co-ops collect and use their data. In return, the app gives them information about their actual hourly wages after expenses and those wages are related to different driving strategies.
“At a community level, what we do is align to everyone’s interest so that gig activists come to our co-operations, because they generate data, the value of that data in the aggregate becomes greater and greater, “Said Witt. “The dividers that we are able to return to the drivers get higher and at the same time the insights we are able to give to the communities about the work gets higher. So we align all our influences and mission goals. And our business model is through our co-structure. “
This is not to say that the driver seat does not create returns for its investors – the investor is just one group of many people in the company who benefit from the company’s success. Witt said the desire for accountability led him to decide to be a co-op.
“If we are always accountable to our co-op members, and our co-op members are gig workers, then we will come to know that we are accountable to the right things,” Witt said. “Now, we also have investor members. We are also accountable to them. But our structure means that gig workers always have at least 51%. [ … ] This is definitely not the only way to build a business. But, you know that for us it was a way that we would create a business that would really align with our mission to transform the gig economy. ”