[aiisahik]

Dumbest idea i've ever seen. Complete misunderstanding of how the tech world works.

The idea is: if sufficient consumers banded together and coordinated their spending power, they can drive decisions in the executive suite of the companies.

Nothing could be further from the truth. It's neither the spending of consumer nor even the spending of business that drive decisions. The only thing that drives decisions at that level is capital allocation - not spending allocation. Wealth drives these decision - not spending.

So if all these tech workers want to band together and do something about it, they would create their own ETF or mutual fund, and put all their wealth into that fund and then have the manager of that fund direct that capital based on their mission.

Of course you will see that this won't work because there just isn't enough capital here to move the market compared to the other capital allocators who are just trying to maximize returns.

[creamyhorror]

I'm not sure it's so black and white. Directing capital is powerful, and directing spending is powerful (but probably harder; this is marketing or government). I think it's more that directing spending requires influencing a lot more people than directing capital.

[DeonRob]

The idea is that one can drive the other. Because if you direct that capital without consumption the investment is worthless. You can do both. You can direct the consumption in exchange for part of that consumption you get equity in a wealth fund that funds product the coop will gain equity in if they use. I think one the obvious ones would be a replacement for github.

We build a replacement for github, the most you personally drive demand to the git replacement and for that demand you gain equity. And for that equity you get a larger say on how the fund is used and increased access to privileges

[kaashif]

Also, if you are doing something other than maximising returns then you'll be outcompeted and irrelevant in the long run unless you attract many billions in inflows, or the government tips the scales in your favour e.g. ESG.

[ceheaaf]

the part of the long run before you starve to death in an empty room with a large number on your bank account