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19/11/08 |
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Participants : 1711 |
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Donations : $260,044 |
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Median Donation : $56 |
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Mission
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Our mission is a revolution in our media ecosystems, so that they serve the interests of the public, on whose commons (e.g. the airwaves) they depend.
Our means to that end is to exploit new media technologies that:
- promote open and egalitarian access to trusted media, and to the mechanisms of publishing;
- reclaim public control over public airwaves;
- help quality media and the audiences for it find each other efficiently; and
- create economic ecosystems that naturally reinforce such connections;
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Purpose
The purpose of Media Venture Collective is to provide strategic development and working capital that is strategic, patient, flexible, low-cost, and most of all purposeful, in support of media enterprises that serve the public interest and compete aggressively with those that don't.
The purpose of a normal venture fund is "return-on-investment", i.e. to take $N and turn it into X times $N. Nothing more. It doesn't matter what the investments do, so long as they're legal and they promise to yield large ROI to be paid out to those who supplied the money in the first place.
By contrast, because our funds come from donations and grants, our purpose can take precedent over returns, which are only important as a means to make the fund evergreen, so that it can be continually reinvested.
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Principles
Participatory - Citizens aren't just consumers, they are participants.
Public control of public assets - Reclaim control of the public media commons, and require accountability and responsibility from those that exploit its benefits.
Egalitarian Access - Level the playing field for underserved communities globally to be able to publish, and gain attention.
Attention meritocracy - The best media, as determined by the audiences, both individually and collectively, not just the media with the biggest marketing budget, should get the most attention.
Open Source - Follow the principles of de-centralization, collaboration, transparency, public-benefit, adaptability, and free use, as well expressed at OpenSource.org .
Eco-social values - Promote environmental sustainability, social justice, and citizen empowerment. The Earth Charter serves as our compass.
Common Benefit - Portfolio companies should primarily benefit large constituencies. Cooperatives are one model, but there are numerous ways that value creation can be shared widely. As a result, we favor "not-for-sale" enterprises.
Privacy, and user control of personal data - Personal privacy control is paramount. Identity and relationship data must be under the user's control.
Diversity - Our focus is on global benefits, and direction comes from as diverse a population as possible.
Sustainability - With dual meanings. Porfolio companies should promote solutions that restore rather than consume, and they need to be sustainable enterprises on their own.
Transparency - Operations, process, and use of funds by the Collective and its portfolio should be exposed to participants.
Constructiveness - Change will come from alternatives that work better, and create competitive pressure.
Collectivity - The Internet empowers broad constituencies, who no longer need to be marginalized by being divided.
Sustainable Integrity - Being pervaded by trust relationships, the Collective should be able to sustain its integrity and dedication to values as it scales.
Fearlessness - of course
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"A popular Government, without popular information, or the means of acquiring it, is but a Prologue to a Farce or a Tragedy; or perhaps both."
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- James Madison |
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