Add before-launch.md: a founding lottery testing whether serious
pre-launch help (a founder's stipend, a feasibility study, legal setup)
creates more co-ops that last, measured independently of the bank, and
a 5% founder stake payable in verified unpaid work. Fund it from the
loan budget, and correct the pilot's growth arithmetic.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
Add pay.md: pay bands open to every worker, a ratio each co-op must
choose and measure honestly, a double majority for high pay and for
raises to jobs most members hold, and no one voting alone on their own
pay. Stop the reserve rule from charging co-ops for raising the bottom,
and close its gaps for perks, non-members and related companies.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
Add high-turnover.md: in home care, a 12-month probation and the
three-quarters rule could fail a co-op doing everything right. Make
membership automatic after a short probation, take the buy-in from
profit shares rather than pay, count agency hours and push-outs, and
phase the rule in. Align the lock, the pilot's safeguards and measures,
worker ownership, the index and open problems.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
Add buyouts.md: owners who choose to sell a healthy firm to its workers
can borrow on a separate $100M track with its own test (money plus a
pay floor), a capped independent price, a seller note that shares the
risk, a vote of the whole workforce and the lock. Restate the total
worst case as $450M and answer open problem #12.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
Add "Making It Last": how public programs get killed (Ex-Im, CDFI Fund,
GGRF, NCCB) and survive (Bank of North Dakota, electric co-ops, Farm
Credit), and rules that assume any president can replace the board
after Trump v. Slaughter. Lending standards fixed in law, a "not tested"
verdict if good applicants are turned away, no freeze from board
vacancies, honest limits on where the money sits, and federal test with
state copies.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
Add precedents.md: Mondragon's Caja Laboral, the US National Consumer
Cooperative Bank, Italy's Coopfond and Marcora Law, each with what went
wrong. Add a support lottery to the pilot (intensive help for a random
half, advisers walled off from lending, all help counted against the
bank), count distressed mergers as closures, and replace unsourced
precedent claims on the bank and argument pages.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
Add the-long-run.md: the Furubotn-Pejovich worry, the French and
Italian evidence, the plywood "failure of success", and four rules:
the reserve takes its share of pay above the going rate, asset-sale
gains go to the reserve, qualifying development can be spread over
five years with abandonment charged to those who chose it, and
accounts earn Treasury+2 only while at risk. Update capital accounts,
worker ownership, the pilot's measures, open problems and the index.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
Add capital-accounts.md (profit split, cash share, formula interest,
payout rules, solvency test, savings protections, worked outcomes).
Rewrite founder-problem.md with a discounted co-op vs conventional
comparison, the risk evidence (Hall-Woodward, Hamilton), and bounded
founder tools. Add founder-related measures and safeguards to the
pilot pages, and renumber open problems.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
Add "The Pilot, in Numbers": a one-time $350M, ~400-co-op pilot with
a power-calculated sample size, loan limits, a checked definition of
market rate, two pre-registered deciding measures (fair survival with
a pay and membership guardrail, and a Treasury-rate hurdle for the
loan book), a matched SBA comparison plus a lottery at the margin, a
year-12 review, a fast-track vote on success and a self-executing
wind-down on failure. Built around the FONDES and Venezuela failures.
Add "Guarding the Pilot": rules against hidden-boss shells, capital
claim drains, split borrowers, relabeled rescues, zombie survival,
sabotage, a rigged review, and political favoritism.
Link both from the index, bank, test, capital and lock pages, and add
the pilot's weak points and the federal-vs-state question to Open
Problems.
Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
jheapsandClaude Opus 5.5