Wefunder’s Post

I spoke at the Chattanooga Entrepreneur Week conference on Tuesday -- about Wefunder, community rounds, and raising capital from your customers. A few minutes previously, I had walked into the press box at Finley Stadium, the home of Chattanooga Football Club, where the conference was being held. I was confronted with the view in the photo below. And I was pretty moved. In 2019, Chattanooga FC opened up a community round on Wefunder, raising $873K from 3,256 fans and local citizens. I reflected that this stadium that I was suddenly looking at was owned by the people of Chattanooga. This is cool. And it's powerful. Over the last 50 years, too much of the wealth created by capitalism has been concentrated in too few hands. If ownership is diffused through a broader swathe of the population, that will make for a stronger economy, and a more dynamic capitalism. Capitalism is great. But it has its challenges, and our current version of capitalism can be improved. More community ownership, vs. concentration of ownership, is one such improvement. And it's not just about "wealth" or "economics". It's about culture, civic pride, passion, engagement, citizenship. The Green Bay Packers have the most passionate fans in the NFL. Because their fans own the team. Thank you to Tim Kelly, Sheldon Grizzle, and all the team at Chattanooga FC -- for letting your fans become owners, and sharing the love!