On Monday, May 22, Twitter shareholders met to vote on a number of items, among them a proposal to explore the feasibility of the popular social platform converting to a democratic user-owned cooperative. While the proposal was voted down; it did garner enough votes to be resubmitted at next year’s annual general meeting of Twitter shareholders.
NCBA CLUSA continues to support this initiative and remains committed to its role as the primary voice for people in the United States who use cooperatives to build a better world.
“Society is trending toward a more inclusive economy, where individuals have a say in the services and products they use. The co-op model is perfectly poised to provide a democratic and principled approach to user ownership,” said John Torres, Vice President of Communication at NCBA CLUSA. “We will continue to support the exploration of the use of cooperative businesses as a solution that is scalable, sustainable and democratic.”
Although expectation was low that the initiative would pass, this effort—organized by the #BuyTwitter initiative—worked to elevate the profile of the cooperative solution to a national and global stage.
Organizers and supports hope that the interest generated over the past five months will continue to grow, leading to greater support and a better understanding of the cooperative business model among Twitter shareholders and investors alike.
The #BuyTwitter campaign tweeted the following article summarizing Monday’s vote: https://news.vice.com/story/twitter-shareholders-see-community-ownership-as-a-way-to-save-the-platform