Fixed tag issue on legal-snippets
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@@ -1,11 +1,20 @@
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---
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title: Airbnb RFC on compensatory offerings
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description: In 2018, as it approached an IPO, Airbnb submitted a letter to the US Securities and Exchange Commission requesting permission to distribute shares to users. The permission was not granted.
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title: Workers Capital Rider
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description: A rider for investment terms that helps ensure a worker-friendly outcome, developed by Eduardo Cabral of Triple Beam Advisors.
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tags:
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- Exit
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- Filing
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- Public-policy
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- United-States
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external_url: https://www.sec.gov/comments/s7-18-18/s71818-4403356-175575.pdf
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- cooperative
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- investment
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external_url: https://www.triplebeamadvisors.com/
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files_media: ../../Exit%20to%20Community%20Stories%20&%20Strategies%202ee6f9c491af45648511f5df33c5cfc5/s71818-4403356-175575.pdf
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---
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1. Reserve **X%** of the total financing round (or **$Xk**) for investors committed to:
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1. A **capped return model**, targeting no more than **X% IRR or a fixed MOIC**, with excess gains recycled into employee equity pools or retained for other company purposes; and/or
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2. **Aligned exit incentives** whereby upon a Corporate Transaction (or other to-be-agreed milestones), investors recoup any gain on their invested capital _only_ if employee ownership pools or other forms of incentive equity (excluding those granted to the founders) also receive at least 50% of the full liquidity they are entitled to under the waterfall provisions (or otherwise distributions will be prorated as needed to ensure an equitable distribution to the employees).
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2. **Prioritize Shared-Risk & Embedded Shared-Outcome Structures**: Collaborate with Investors who embrace frameworks inspired by solidarity economics and cooperative finance, such as:
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1. **Profit-sharing**: Returns tied to enterprise success, not fixed interest;
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2. **Worker-Investor Covenants**: Mechanisms (e.g., side agreements, SAFE-like instruments) to ensure capital providers share both upside and downside risk with labor stakeholders.
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3. **Worker Friendly Governance**: Optionality for economic rebalancing (e.g., redistributive equity pools triggered at exit).
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4. **Vesting-Adjusted Dividends**: Investor dividends accrue but only vest upon equivalent employee profit-sharing milestones.
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3. **Transparency & Accountability**:
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1. Report annually on progress toward sourcing solidarity-aligned capital, including challenges faced.
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@@ -512,7 +512,7 @@ document.addEventListener('DOMContentLoaded', function() {
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selectedTags.add(preSelectedTag);
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}
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// Collect all unique tags
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// Collect all unique tags (normalize case for consistency)
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const allTags = new Set();
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cards.forEach(card => {
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const tags = card.dataset.tags;
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@@ -527,8 +527,9 @@ document.addEventListener('DOMContentLoaded', function() {
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Array.from(allTags).sort().forEach(tag => {
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const option = document.createElement('div');
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option.className = 'tag-option';
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const isSelected = Array.from(selectedTags).some(selected => selected.toLowerCase() === tag.toLowerCase());
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option.innerHTML = `
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<input type="checkbox" ${selectedTags.has(tag) ? 'checked' : ''}>
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<input type="checkbox" ${isSelected ? 'checked' : ''}>
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<span>${tag}</span>
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`;
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@@ -537,7 +538,9 @@ document.addEventListener('DOMContentLoaded', function() {
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if (checkbox.checked) {
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selectedTags.add(tag);
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} else {
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selectedTags.delete(tag);
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// Remove tag case-insensitively
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const tagToRemove = Array.from(selectedTags).find(selected => selected.toLowerCase() === tag.toLowerCase());
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if (tagToRemove) selectedTags.delete(tagToRemove);
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}
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updateSelectedTagsDisplay();
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filterAndSort();
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@@ -584,8 +587,10 @@ document.addEventListener('DOMContentLoaded', function() {
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const checkboxes = tagOptions.querySelectorAll('input[type="checkbox"]');
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checkboxes.forEach((checkbox, index) => {
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const tag = Array.from(allTags).sort()[index];
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checkbox.checked = selectedTags.has(tag);
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checkbox.parentElement.classList.toggle('selected', selectedTags.has(tag));
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// Case-insensitive check for selected tags
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const isSelected = Array.from(selectedTags).some(selected => selected.toLowerCase() === tag.toLowerCase());
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checkbox.checked = isSelected;
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checkbox.parentElement.classList.toggle('selected', isSelected);
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});
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}
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@@ -662,10 +667,10 @@ document.addEventListener('DOMContentLoaded', function() {
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description.includes(searchTerm) ||
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content.includes(searchTerm);
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// Tag filter - must match ALL selected tags
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const matchesTags = selectedTags.size === 0 ||
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(tags && Array.from(selectedTags).every(selectedTag =>
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tags.split(',').map(t => t.trim()).includes(selectedTag)
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// Tag filter - must match ALL selected tags (case-insensitive)
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const matchesTags = selectedTags.size === 0 ||
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(tags && Array.from(selectedTags).every(selectedTag =>
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tags.split(',').map(t => t.trim().toLowerCase()).includes(selectedTag.toLowerCase())
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));
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return matchesSearch && matchesTags;
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