Oops, fixed legal-snippet file naming

content/legal-snippets/airbnb-compensatory.md

@@ -1,20 +1,11 @@
 ---
-title: Workers Capital Rider
-description: A rider for investment terms that helps ensure a worker-friendly outcome, developed by Eduardo Cabral of Triple Beam Advisors.
+title: Airbnb RFC on compensatory offerings
+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.
 tags:
-    - cooperative
-    - investment
-external_url: https://www.triplebeamadvisors.com/
+- Exit
+- Filing
+- Public-policy
+- United-States
+external_url: https://www.sec.gov/comments/s7-18-18/s71818-4403356-175575.pdf
 files_media: ../../Exit%20to%20Community%20Stories%20&%20Strategies%202ee6f9c491af45648511f5df33c5cfc5/s71818-4403356-175575.pdf
 ---
-
-1.  Reserve **X%** of the total financing round (or **$Xk**) for investors committed to:
-    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
-    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).
-2.  **Prioritize Shared-Risk & Embedded Shared-Outcome Structures**: Collaborate with Investors who embrace frameworks inspired by solidarity economics and cooperative finance, such as:
-    1.  **Profit-sharing**: Returns tied to enterprise success, not fixed interest;
-    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.
-    3.  **Worker Friendly Governance**: Optionality for economic rebalancing (e.g., redistributive equity pools triggered at exit).
-    4.  **Vesting-Adjusted Dividends**: Investor dividends accrue but only vest upon equivalent employee profit-sharing milestones.  
-3.  **Transparency & Accountability**:
-    1.  Report annually on progress toward sourcing solidarity-aligned capital, including challenges faced.