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Community Capitalism

I wanted to wrap up the year by writing about something I have been thinking about for the last few months:

Who owns the best businesses in the world?

I am trying to draw a line from inherited wealth of feudal lords to community-owned services with tokens.


The last 1,000 years can be roughly split into two 500-year chunks: feudalism & capitalism. Feudal lords controlled all of the land, farms, buildings and capital. This was passed down inside families and never distributed to the workers.

Capitalism totally changed that.


Risk, reward and ruin were separated when joint-stock companies became more common. The prerequisite for successful entrepreneurship shifted from inheritance to initiative.

People without wealth could access it and start new ventures.

Founders started founding new companies.


Equity compensation kicked off in the 1950s but it really went into overdrive when it was mixed with high-growth technology companies backed with high-risk equity bets. Silicon Valley perfected the art. Employees at many of the most successful technology companies became owners.


The SEC did two huge things this year. They raised the crowdfunding limit to $5m and introduced a proposal to allow gig workers to receive stock.

I predict that we will see competitors to Airbnb, Uber and DoorDash all take advantage of this
The anatomy of a scenario...

A 𝘁𝗵𝗿𝗲𝗮𝗱 on how mitigation works, why we probably need some level of carbon capture & storage (CCS) & carbon dioxide removal (CDR) - just not as much as in scenarios.

Based on my presentation ↦ https://t.co/j5uLxUi0xF


2. We start with a baseline or reference scenario, that assumes no or limited mitigation. If we want to stay "well below 2°C" we need to get rid of the dark grey & be net-zero!

We can argue about the baseline, but for the purposes here, it doesn't matter
https://t.co/C0dAdj65tl


3. The heavy lifting is done by conventional mitigation: behavioural change, energy efficiency, fuel switching (fossils to non-fossils), changed transport, dematerialisation, etc, etc...

But, scenarios suggest this is not enough to get rid of all greenhouse gases.


4. In some sectors, particularly some industrial sectors, perhaps the cheapest or only way to mitigate is with carbon capture & storage (CCS), eg, cement, steel, chemicals, etc

This is one reason we need CCS...


5. We can't forget about non-CO₂ emissions. We can probably get most non-CO₂ out of industry, but what about agriculture? Even if we change diet, reduce food waste, etc, we may not be able to eliminate CH₄ or N₂O from agriculture.

Some CO₂ & non-CO₂ remains (dark grey)...