I’m currently crowdfunding ownership of my next book and giving readers a share of the profits. I’m using a platform called WeFunder to do this, which allows businesses to crowdfund investment from supporters, not just VCs.
This used to be illegal—only accredited investors with millions of dollars in net worth could invest in private businesses, but WeFunder thought everyone should be able to own a piece of the pie. So they changed the law.
Now, businesses can raise up to $5 million from supporters, and supporters can invest as little as $100 in businesses they care about. This is a different kind of ownership structure—one where businesses answer to their patrons, rather than just investors who want a return.
WeFunder’s mission is not small—they are a Public Benefit Corporation with a mission to “fix capitalism” by changing who owns stake in it. I spoke with their president
today to learn how we could do that, what case studies are paving the way, and what our future could look like if we change how businesses are funded.
