[Coworking] What ever happend with the coworking.com money? Next Steps for Coworking.com contributors.

[Alex Hillman]

No, I have not run off with the donated money. Nice try Steven.

And you're all very lucky that I didn't get around to execute my planned April Fools joke of redirecting http://coworking.com to http://www.regus.com/ for the day, just for kicks. But after the last Regus-related stunt I pulled, I thought better :)

But, now, 2 months later, the dust has settled around one of the more chaotic discussions in the coworking group. 

Chaos isn't a bad thing, mind you. One of the most important things I ever learned from Tara Hunt was about the importance of embracing chaos, since most things aren't in your control anyway. I think we all came out stronger from that discussion, learning a lot about this group, and ourselves.

Where we last left off:

In the span of 30 some hours, nearly $10,000 was raised by around 30 contributors from around the world to go towards the purchase of the coworking.com domain. The move was abrupt, mostly because it had to be, and in the heat of the discussion one of the issues that we agreed to sort out was a better way of distributing the visible contributorship so that it didn't look like the domain was purchased by the fastest 5% of the community. Furthermore, the old way left out the opportunity for more people to gain access to the same benefits. 

Bottom line, we needed to rethink, and make things simpler. All of the confusion was rooted an unnecessary complication.

I put out a request for proposals on how we could re-collect the money in a more democratic way, and then redistribute the originally paid funds back to the entities that contributed.

It looks like there are some common themes in the suggestions about how to redistribute the funds gathered to buy the coworking.com domain. 

With the help of Jacob Sayles from Office Nomads, I have compiled them into a plan and are ready to move forward.  

Here we go:

1. We'll have an open enrollment period for two weeks where we'll be taking pledges from everyone who would like to contribute.  

2. At the end of that time, we'll find the lowest amount commonly pledged that meets the goal. (simple arithmetic, yay!)  

3. Everyone who pledged under that amount will be contacted and given an opportunity to adjust the amount they would like to give, or withdraw from the process.  

4. When that is settled people who haven't sent in money will be prompted to (we'll use paypal) and those who have already donated will be refunded any amount over the final amount determined by this exercise.  

5. We'll write up a page documenting the event and thanking all the contributors.

Reminders:

• Pledging money does not indicate any legal ownership of the domain. It provides you an opportunity to be a part of something big, the community acquisition of coworking.com. 
• Until an ownership structure makes sense for everybody, the domain remains in my Godaddy account, which I will bestow authorization to one other person (unrelated to the contributions, and to be named) to relieve the concerns of "what happens if Alex gets hit by a bus". Which, by the way, I hope does not happen.
• There will be more opportunities to associate with and utilize the domain in the future, this is to handle a single snapshot event in history. There isn't any gate closing. This isn't the end of time. That comes in 2012, according to a recent John Cusack movie. So we have plenty of time.
• Not pledging money in NO WAY indicates that you are not a member of this community. Conversely, pledging money ALSO in NO WAY indicates that you are a member of this community. The only measure of membership in this amazing global community is participation.

I'm going to set up the form to collect pledges on Monday, April 19th. Any discussion between now and then will happily be factored into the plan, but after the 19th, we're pressing forward!

Thanks everyone, I look forward to the sealing of this chapter so that we can move on to even bigger and better things!

Cheers,

Alex

/ah
indyhall.org
coworking in philadelphia

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[Kevin Ciesielski]

Thanks Alex,

To make you feel better about the chaos, the lord of chaos is already a CC t-shirt made by barcamp milwaukee :) So embrace chaos, but you cannot be the lord of it.

www.flickr.com/photos/rohdesign/1583760021/

Oh, and you method sounds like a fair idea too.

Kevin Ciesielski
Bucket Brigade

@KeVroN
http://bucketb.com/kevron
608-695-5453

Bucketworks
706 S 5th St
Milwaukee, WI 53204

[Steven Heath]

On 17 April 2010 11:35, Alex Hillman <dangerous...@gmail.com> wrote:

No, I have not run off with the donated money. Nice try Steven.

The cover up continues! :-)

 

And you're all very lucky that I didn't get around to execute my planned April Fools joke of redirecting http://coworking.com to http://www.regus.com/ for the day, just for kicks. But after the last Regus-related stunt I pulled, I thought better :)

I for one welcome our new Regus overlords!

 

Here we go:

1. We'll have an open enrollment period for two weeks where we'll be taking pledges from everyone who would like to contribute.  

2. At the end of that time, we'll find the lowest amount commonly pledged that meets the goal. (simple arithmetic, yay!)  

3. Everyone who pledged under that amount will be contacted and given an opportunity to adjust the amount they would like to give, or withdraw from the process.  

4. When that is settled people who haven't sent in money will be prompted to (we'll use paypal) and those who have already donated will be refunded any amount over the final amount determined by this exercise.  

5. We'll write up a page documenting the event and thanking all the contributors.

Excellent approach Alex.

Can the page allow people to add a pledge without $ amount? Which means they agree to pay any amount that is required?

--
Steven Heath
Director, Foxbane Consulting
Founder, AltSpace
Cell: +64 21 706-067
www.foxbane.co.nz
Level 22
Plimmer Towers
2 Gilmer Terrace
Wellington

AltSpace.co.nz - Shared office space in Wellington for home based workers, freelancers, or nimble companies

[Alex Hillman]

That's a killer t-shirt. I'll be adding it to my collection.

/ah
indyhall.org
coworking in philadelphia

[Alex Hillman]

Can the page allow people to add a pledge without $ amount? Which means they agree to pay any amount that is required?

That's a good idea, I'll include that.  

/ah
indyhall.org
coworking in philadelphia

[Tara Hunt]

Is Lord of Chaos kind of like Lord of the Rings, but with more chaos? Do they come in girl sizes? :)

--
tara 'missrogue' hunt

Company: Shwowp (http://www.shwowp.com)
Book: The Whuffie Factor (http://www.thewhuffiefactor.com)
Blog: HorsePigCow: Marketing Uncommon (http://horsepigcow.com)
Twitter: http://www.twitter.com/missrogue
phone: 514-679-2951

[Arne Hulstein]

Hi Alex,

Interesting process. So, just to get the story clear to me (I've not
been on here that long), the domain has already been transferred to
you by the previous owners in complete trust that the community is
good for the money? Cool stuff!

On a slightly different note, I would love to take part in the
bidding, but have got to focus our money on obtaining our space and
getting it up and running... So, would there be an opportunity to take
part later?

Arne

[ourspace...@gmail.com]

I would love to participate, but I am in same situation as Arne!

Thanks,

Jodi Dean, Founder
www.ourspacfw.com
Fort Wayne, IN

[Angel]

I agree with Jodi,
I couldn't participate in the first round of collection b/c all my
capital was tied up starting my space. The 2 week period to
contribute is great for all of us who have a little extra cash laying
around. I don't understand how this process allows for the explosive
growth and inclusion of new space owners that will occur now through
infinite. #didimisstheboat?

On Apr 17, 6:24 am, "ourspacefortwa...@gmail.com"

[Alex Hillman]

Some more clarifications:

• If you are new and haven't already read this post, I recommend you do so.
• The former owners of coworking.com have been paid, in full, their asking price.
• The kind of money we're talking about raising from individuals this time around is not in the $250/$500/$1000 range like last time, because last time, we had a limited time window to achieve the goal. This time, there's a much more open window, so we could do something like 200 x $50 donations. Possibly even less if more people get involved.
• There is NO REASON to stress your financial situation, personally or your business. 
• Again, not being able to contribute does not make you any less of a member of this community, and contributing does not make you any more. It is simply an opportunity to be a part of a snapshot in time, a single event. Please do not over-think it.  
• This process doesn't explicitly include everyone in the future, but it also doesn't explicitly EXCLUDE people, either. Again. Snapshot in time. There will be other projects/needs/initiatives in the future related to coworking if it continues to grow the way that it has, and my hope is that they're organized by someone other than me, and that whoever's around then can be a part of it. 
• There's no boat to be missed. Relax. Focus on making your coworking communities awesome, not on some theoretical future fate of an internet domain. 

-Alex

/ah
indyhall.org
coworking in philadelphia

[Alex Hillman]

OH JEEZ I left out the most important amendment to the model:

Funds will be accepted from, and thanks will be provided to: people. 

NO businesses, ONLY individuals.

If a business wants to contribute, it will need a single human being's name associated with it in order to receive public thanks.

But why, Alex!?

This will reduce the expectations that this is a "sponsorship", and that any one coworking space has a competitive business advantage over another coworking space...now and in the future. That is not the point of this acquisition. 

The point is to associate the word coworking with the core values of coworking, and point to the primary resources currently available for people interested in coworking.

This shift is largely inspired by the SpreadFirefox campaign from 2005, one component of which included a large-scale fund raise from LOTS of sources, but the very visible New York Times advertisement that was run with a portion of those funds included the names of individual micro-contributors rather than the corporate macro-contributors.

We do something different here: we run businesses, and focus on people. 

After the results of the last round of discussion, I think it is absolutely critical that this revised fund raise reflects that. 

-Alex 

/ah
indyhall.org
coworking in philadelphia

[Arne Hulstein]

Cool stuff Alex. I was still thinking along the lines of the thousands
you named in the blogpost you mentioned. Thanks for your
clarification. I'll stop talking funds now. ;-)

And I loved your second mail. It is all about people. Lets enjoy that
and make the most of it. How do you think we can move forward?

Arne

[Alex Hillman]

I'll have a webform live on Monday, which I'll post to the list, which will allow you to pledge your personal maximum. Whatever makes you comfortable, and does not jeopardize your business, your kids' health, or your ability to eat or sleep in comfort. Seriously.

Once we have all of the pledges, we'll take the highest number within every pledge's threshold that achieves the goal and initiate the fund raise. 

Example? Sure!!

I say I'll put in $100

You say you'll put in $75

Susie says she'll put in $60

John says he'll put in $42 

In this spread, the maximum everyone would be accountable for is the lowest contribution, so we'd have $42 x 4, or $168.

This model favors participation rather than high dollar amounts, on purpose!! Get it? GOOD!! :)

-Alex

/ah
indyhall.org
coworking in philadelphia

[Will Bennis, Locus Workspace]

Hi Alex (and Jacob and whoever else was instrumental in this behind
the scenes):

Just want to put in another positive note for what you have
accomplished with this. From a mostly lurker perspective it has run
incredibly smoothly (the earlier back-and-forth notwithstanding, which
as you said seems healthy and unavoidable with this scale of a
community). The amount of time you (all) had to put into this to make
sure it worked is, I'm sure, much more than comes across to most of us
who are going about our own attention-consuming projects and not
directly involved beyond the (important) critical feedback and
financial contribution stage. Summary: Iincredible job! Thanks!

Best,
Will

On Apr 17, 8:09 pm, Alex Hillman <dangerouslyawes...@gmail.com> wrote:
> I'll have a webform live on Monday, which I'll post to the list, which will
> allow you to pledge your personal maximum. Whatever makes you comfortable,
> and does not jeopardize your business, your kids' health, or your ability to

> eat or sleep in comfort. *Seriously.*

>
> Once we have all of the pledges, we'll take the highest number within every
> pledge's threshold that achieves the goal and initiate the fund raise.
>
> Example? Sure!!
>
> I say I'll put in $100
> You say you'll put in $75
> Susie says she'll put in $60
> John says he'll put in $42
>
> In this spread, the maximum everyone would be accountable for is the lowest
> contribution, so we'd have $42 x 4, or $168.
>

> This model *favors participation* rather than high dollar amounts, on

> purpose!! Get it? GOOD!! :)
>
> -Alex
>
> /ah
> indyhall.org
> coworking in philadelphia
>

> > >> On Sat, Apr 17, 2010 at 9:25 AM, Angel <fccowork...@gmail.com> wrote:
>
> > >>> I agree with Jodi,
> > >>> I couldn't participate in the first round of collection b/c all my
> > >>> capital was tied up starting my space.  The 2 week period to
> > >>> contribute is great for all of us who have a little extra cash laying
> > >>> around.  I don't understand how this process allows for the explosive
> > >>> growth and inclusion of new space owners that will occur now through
> > >>> infinite. #didimisstheboat?
>
> > >>> On Apr 17, 6:24 am, "ourspacefortwa...@gmail.com"
> > >>> <ourspacefortwa...@gmail.com> wrote:
> > >>> > I would love to participate, but I am in same situation as Arne!
>
> > >>> > Thanks,
>
> > >>> > Jodi Dean, Founderwww.ourspacfw.com
> > >>> > Fort Wayne, IN
>
> > >>> > --
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[Alex Hillman]

Thanks Will. :)

On Sunday, April 18, 2010, Will Bennis, Locus Workspace

--

/ah
indyhall.org
coworking in philadelphia

[todd@c4workspace]

OK, I'm completely thick or missed the strand of the thread.

If the domain is already paid for from the previous donations (Thanks
everyone!) what is this pledge for? What will it be paying for?

And then all the other question ad infinitum: Where will it be banked?
Who decides what it will be spent on?, etc.

Cheers!

Todd O'Neill
Catalyst
C4 Workspace.com

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> /ah
> indyhall.org
> coworking in philadelphia
>
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[Alex Hillman]

If the domain is already paid for from the previous donations (Thanks everyone!) what is this pledge for? What will it be paying for?

Due to the rapid fund raise and the quickly reached ceiling of raised funds, a lot of people who wanted to be a part of the acquisition were upset that they could not get in. A lot of discussion was had during the month of February, and a number of calls for suggestions were provided. This is a hybrid of them, which redistributes the fund raise over a broader representation of the global coworking community.

Currently, there were ~30 donors. Out of ~2700 people on this list. That's a poor ratio, and we're providing an opportunity to correct that. Once we do, the original donations will be returned.

And then all the other question ad infinitum: Where will it be banked? Who decides what it will be spent on?, etc.

Same as before: the money will be collected using the IndyHall paypal account. This money will ONLY be used for paying for/registering the domain. Any money raised that cannot be used for the domain will be returned. If there are other operations (such as paying for a graphic designer, copywriter, etc), that can be handled through the same kind of fund raise if it is deemed successful, or if not, we can improve it again. The last thing I want to do is be responsible for deciding how someone else's money gets spent. This is for the domain acquisition and related transaction fees, ONLY.

/ah
indyhall.org
coworking in philadelphia

[Patrick]

From the previous discussions and the number of people interested
then, it would seem like we'll have enough people to cover the cost,
even with something like $50-75-100 a person or something like that.

I know I've got a few members who'd probably pitch in but don't
necessarily follow the group and so aren't aware of this yet. Anyone
openly publicizing this to their membership or do we think we already
have quite enough people simply with those active on the list?

Also, are we raising 10K or just the original amount which was around
7K?


Patrick
http://station-c.com

[Alex Hillman]

I know I've got a few members who'd probably pitch in but don't necessarily follow the group and so aren't aware of this yet. Anyone openly publicizing this to their membership or do we think we already have quite enough people simply with those active on the list?

I think this is a good idea! 

Also, are we raising 10K or just the original amount which was around 7K?

The final number ended up being some amount higher once factoring in all of the transaction fees at both steps, but I have that actual number now and (once I actually add everything up) we'll be working towards the actual number spent on the transaction, returning all of the extra funds to the original contributors.  

-Alex

/ah
indyhall.org
coworking in philadelphia

[todd@c4workspace]

Alex

It finally got through my thick skull. Makes a lot of sense. Hope to
be able to contribute.

Cheers!

Todd O'Neill
Catalyst
C4 Workspace.com

[Alex Hillman]

Awesome, Todd! :)

--

/ah
indyhall.org
coworking in philadelphia

[Alex Hillman]

Awesome, Todd! :)

On Tuesday, April 20, 2010, todd@c4workspace <oneil...@gmail.com> wrote:

--

/ah
indyhall.org
coworking in philadelphia