Post by Jolynn Vallejo

In #venture, we have a framework for everything. #Captables, #liquidation preferences, return #waterfalls. We know exactly how value gets created and, more importantly, who captures it when it does. Community ownership has the value creation part figured out. It's the capture part that keeps breaking down. That's not a mission problem. It's a capital structure problem. I might argue it's the most interesting design challenge in #impact #VC right now. Rupal Patel opens a new series, The Ownership Stack, with the clearest diagnosis of this gap that I've seen, starting with the #Knicks and landing on a question I think about every day: What would it look like to build the same infrastructure for community ownership that #VC and #PE private have built for everything else? This is Part 1 of 5. If you work in venture, #growthequity, or #impactfinance, the rest of this series is written for you. https://lnkd.in/gsDzmvaM