Giving away your company: rethinking ownership
Most platforms (and companies) owe their success thanks to users engaging on the platform, yet instead of rewarding them we charge them more. Maybe there's a better way to think of your customers/user
There's something about Linkedin, Facebook, Instagram and TikTok etc that really bothers me. And no, this isn't the usual rant about social media platforms. Rather it is their ownership structures.
These are platforms - companies - that owe EVERYTHING to the people who invest time and energy into creating content, engaging with others, donating their expertise, perspectives, sharing the platform links in the real world, etc which in turn drives up the value of those platforms and in turn the companies that own them.
And what do all those people get in return? More ads. More premium services to buy. Less visibility. And all for the privilege of being on the platform.
Once in a while you get a good initiative like what linkedin tried to do by posting topics and inviting people to contribute expert perspectives around that in exchange for a label (top voice in ....) which I thought was a good start, but it turns out that it was a sneaky way to feed their AI models for free (not cool and as close to a betrayal of trust as you can get).
But I digress...
Rethinking what is an owner...
The platform issue - where the success of the company who owns the platform is really thanks to the users who contributed to the platform without giving them much in return - made me think about my own company and the people and organizations that played such a part in our success (today we are used in over 455 cities across 29 countries): the students who did the courses, left reviews and gave us feedback to improve, the experts who donated their time to creating courses on them, the organisations that promoted us and supported us, the cities who pushed us to be even better and who became our biggest champions, the friends, mentors and critics who really believed in us and helped us along the way, the ambassadors who carry our flag in so many countries, helping us make an even greater difference in the lives of the many...
Our success is so reliant on the amazing individuals and organizations that without them we would not be where we are today.
So why don't they own a part of our company?
Fundraising Vs Stakeholding
Of course such approaches do exist in the market but they are usually reserved for fundraising efforts (stock markets allow bigger organisations to raise capital in exchange for a share in the company), but what about all the people who are so crucial in your success but who don't want to (or can't afford to) invest money?
In my experience the people and organisation that promote you, use you etc are much more than just users, partners, contributors: they are de facto stakeholders in your success yet most company structures are not setup to reward them (aside from a few reseller schemes).
I have been thinking long and hard what I could do to try and see if there's a better way.
Control vs Ownership
One of the challenges with having multiple owners is control. That's not in the dictatorial sense: after all one needs to constantly adjust the sails and direction as you listen to the winds and watch the currents, but I learned over the years that there's a lot of people who are passionate about you succeeding but often lack the knowledge or insights to give advice that adds value (there's TONS of well meant advice I have to ignore as it is based on incomplete data) so I've wanted to explore how I can keep control to enable me to make decisions while at the same time invite new owners on board.
So here's what I am thinking...
Lynda Smith not too long ago asked me if I can't come up with a way to reward contributors... the experts and organisations that contributed to our success. This has bugged me because I didn't have an answer. So have been thinking, reading, speaking to people, listening to poodcast and videos, etc etc to try and be better informed about the options.
Here are my two cents. I am sharing my research, thinking and outcomes not to influence you, but rather to give you a glimpse of what we discovered so far and what kind of exciting ideas are out there... and who knows: maybe it will also influence your approach to growing a business.
It started with an token introduction...
I am a big fan of sharing what you are looking for. I did so in a whatsapp group managed by Founder Institute Berlin / Germany and got a suggestion by the amazing Ferdinand Mühlhäuser 🇺🇦🌍 to contact Alexandre Lehr. Sometime a chat is like a gift: as if someone suddenly drops a whole new set of tools in your garage to work with. This was the case with Alex. Me being of course not really the expert, I asked the blockchain legend that is Craig Terblanche to join me in the follow up session to help me make sense of it all.
Alex and his team invented a platform that allows you to tokenise specific assets (or even companies) in order for you to raise funding around specific projects. Imagine you want to renovate a shopping centre or improve a business: you could essentially allow people to own tokens and use those funds to do the improvements.
In our case we didn't want a way to raise funding at all, but rather a way to reward stakeholders (students, teachers, partners) with ownership of the academy in exchange for their effort and support. Alex's platform is excellent (essentially a one stop solution that allows you - the business manager - to almost outsource all the components of the process - from distribution of the tokens, to onboarding stakeholders to keeping them informed (investor relations if you will), etc. But this isn't a post about them. I mention all this to remind us that our core business is not managing stakeholders but managing amazing academies that cities use to help their citizens. If the stakeholder platform becomes a full time job it becomes a distraction to us (time and mental energy away from our core business). I can't tell you how important this is! Distractions can kill your business (I speak from personal experience).
So Alex gave us some really good insights, especially around what works and what doesn't (the mistakes that some organisations made). And this is hugely helpful.
So here are the notes from that discussion. Unfiltered. For your learning benefit :-)
May 15, 2025
Summary
York Zucchi initiated a discussion about tokenizing the startup tribe project to incentivize students and teachers. Alexandre Lehr presented their platform for asset-backed tokenized financing, while Craig Terblanche expressed interest in real-world asset tokenization for job creation. Participants discussed token utility, potential challenges like distraction and volatility, regulatory considerations, project goals beyond fundraising, and the live implementation process, including tokeneconomics, legal compliance, and platform features; York Zucchi aims for a launch around August or September of the following year, and Alexandre Lehr offered a questionnaire to aid project development and highlighted the need for early preparation.
Details
Initial Project Discussion York Zucchi introduced the idea of tokenizing the startup tribe project, aiming to transition ownership to students and teachers by rewarding them for course completion and content contribution (00:00:00). Alexandre Lehr provided a brief overview of their platform, which focuses on tokenized financing tied to assets, offering efficient fundraising solutions (00:01:23). Craig Terblanche shared their background as a serial entrepreneur passionate about creating jobs at scale, mentioning real-world asset tokenization as a potential avenue (00:03:23).
Token Utility and Business Fundamentals Alexandre Lehr emphasized that a token is a tool and that a great business idea remains the core for success, with or without a token (00:05:44). Craig Terblanche agreed, stating that the utility and value exchange facilitated by a token drive its value and overall participation (00:14:48). Alexandre Lehr highlighted examples like Step and Chainlink, noting that while tokens can raise awareness, a solid business model is crucial for retention and value (00:05:44).
Potential Challenges and Considerations Alexandre Lehr pointed out that a token can be a distraction, diverting focus from the core business, and that token prices can be volatile (00:07:26). Craig Terblanche raised concerns about the business model and how tokenization would support it in the context of a non-profit initiative (00:12:34). Alexandre Lehr also discussed how requiring token ownership for enterprise adoption could create an entry barrier (00:09:24).
Regulatory Landscape Alexandre Lehr noted the importance of clear regulation for blockchain and tokenization projects, highlighting the positive development of MiCA in the European Union and the challenges posed by the uncertain regulatory environment in the US (00:09:24). They mentioned that most projects avoid the US market due to these uncertainties (00:10:32).
Project Goals and Tokenomics York Zucchi clarified that the current initiative is not for fundraising but to engage stakeholders by giving them an interest in the project (00:11:27). They raised questions about the secondary market for tokens and how to value a non-profit entity (00:12:34). Craig Terblanche stressed that the tokeneconomics should be driven by the underlying business model and cautioned against creating separate tokens for each city to maximize network effects (00:16:54).
Live Implementation Process Alexandre Lehr outlined the typical process for going live, starting with initiation, followed by structuring sustainable tokeneconomics, legal compliance, and distribution (00:20:17). They emphasized the need for thorough tokeneconomics planning and legal structuring to determine the success and potential impact of the token (00:21:20). Alexandre Lehr indicated that countries other than the US, China, and Russia are generally manageable for legal setup, with Estonia being a straightforward option (00:22:18).
Platform Features and Resource Requirements Alexandre Lehr explained that their technology does not require users to have their own crypto wallets initially, as the platform can manage tokens in the background (00:25:31). They also demonstrated the platform's built-in feature for communication with token holders, including clustering for different stakeholder types (00:30:24). Alexandre Lehr estimated legal costs could range from €10,000 to €30,000 depending on complexity, in addition to their platform fees (00:27:05). The actual platform costs are around EUR 10.000 to setup (once off) and ca. EUR 250 a month fee plus a tiny percentage of turnover of the tokens.
Token Issuance and Management Alexandre Lehr confirmed that issuing tokens on their platform is a straightforward process. They likened tokenization to an IPO in terms of issuing a limited number of tokens, but noted that the exchanges are not as developed as stock exchanges (00:28:09). Alexandre Lehr highlighted that their platform offers a dashboard for activity monitoring and facilitates shareholder/stakeholder relations with built-in communication tools (00:30:24).
Next Steps and Timeline Alexandre Lehr offered to send York Zucchi a questionnaire to help think through the project and its implications (00:32:35). York Zucchi indicated a target launch timeframe around August or September of the following year, emphasizing the need to prepare the groundwork and desensitize partners to the idea of tokens (00:33:18) (00:37:21). Alexandre Lehr suggested that the earlier they start getting acquainted with the tools, the better, and offered flexible pricing options for the preparation phase (00:34:35). Alexandre Lehr estimated a minimum of two to three months for structuring, assuming focused effort, but acknowledged that the process would likely be spread out over a longer period (00:35:33).
Suggested next steps
Alexandre Lehr will share the platform presentation and a standard questionnaire with York Zucchi after the call to help think through the tokenization process.
Questions for us to think about...
One (awesome) think Alex did for us is write down some questions for us to think about.... Here they are (to help you in your own thinking journey)
Business Model Fit
Strategic Goals What are your main objectives for launching tokens (e.g., reward participation, financial incentives)? What roles will each token serve?
Integration with Services How will tokens enhance your current offerings (e.g., unlock courses, support NGOs/teachers/students)?
Success Metrics How will you measure success (e.g., user adoption, course completions, wallet activity)?
Sustainability Without fundraising, how will tokens support ongoing operations or generate value?
Stakeholder Incentives
Who Earns What Which actions by students, teachers, NGOs, or others will be rewarded? How will you ensure fairness and avoid abuse?
Token Scope One global token or separate tokens for each city? How will they interact or differ?
Utility & Engagement What can users do with tokens (access content, events, exchange, donate)? How will you maintain interest and demand?
Clarity & Trust How will you explain the token system to all stakeholders, including non-crypto users?
Legal & Compliance
Token Classification Will your tokens be considered utility or financial instruments? How will you ensure compliance?
KYC & Data Will users need identity checks? How will you manage data privacy (e.g., GDPR)?
Issuer Structure Who will issue/manage the tokens — the academy or a separate entity?
Jurisdictional Differences How will you handle regulatory variation across different cities/countries?
Tokenomics & Governance
Supply & Distribution Will the token supply be fixed or dynamic? How will you allocate and vest tokens?
Governance Will stakeholders vote or influence decisions using tokens?
Value Stability How will you manage token demand and prevent harmful speculation?
Financial Rights If one token offers returns, how will that work? If not, how will you position its value?
Implementation
Platform Features How will you use ONINO’s features (updates, secondary market, white-label design)?
Long-Term Operations Who manages the token program? How will you review and evolve it over time?
Caveat emptor
I am sharing all this not necessarily to persuade you, but just to invite you to think differently around your initiative and business. Classically one would use the stock market or similar tools to raise funding - and this tool of course can help with this - but I am inviting you today to think differently about your business and specifically how you reward the stakeholders who have been instrumental in your success.
I am still in the phase of clarifying ideas and will share more as we go along this journey. As we are busy with growing our academies this tokenization of the academy (if we follow this route) will only happen late 2026 as we can't afford distractions currently (all hands on deck to make sure we do a great job), but I so love thinking ahead and coming up with new ideas.
Imagine: an academy owned by the students and teachers.
Now that's exciting...
Watch this space.