Even if it doesn’t pass vote shows that people are realizing the social media company is akin to a public utility.
On May 22 Twitter shareholders will vote on a proposal to turn the beleaguered social media juggernaut into a user-owned company.
In Twitter’s proxy statement – which publicly held companies are required to file to the U.S. Securities and Exchange Commission (SEC) prior to shareholder meetings – the proposal is described as a means of achieving ‘democratic user ownership’.
From the SEC filing:
‘A community-owned Twitter could result in new and reliable revenue streams – since we as users could buy in as co-owners – with a stake in the platform’s success’.