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content/curriculum/Sessions/Session 6 – Equitable Economics.md
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# Session 6: Equitable Economics
## Pre-session
---
## Welcome
Tag Yourself
---
## Intro - 5 min
## Intro – 5 min
Last session you designed governance structures. Now we test them on the hardest topic: money.
Last session you designed governance structures. Now we test them on the hardest topic: Money.
In traditional studios, financial information is hoarded. If the boss says we can't afford raises, how do you know that's true if you don't have access to the books? If you've been the victim of the sudden shuttering of a studio, you probably didn't see it coming, because you never saw the real financial picture.
@ -20,7 +16,7 @@ Secrecy entrenches power. In a cooperative, we have the opportunity to bust this
---
## Check-in - 10 min
## Check-in – 10 min
Last session's homework asked you to discuss: *What does financial sustainability look like for you personally? What would you need from this project?*
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---
## Part 1: Where money comes from - 15 min
## Part 1: Where money comes from – 15 min
We're going to talk about transparency and sharing in a bit. But we want to start with the good stuff!
@ -40,27 +36,27 @@ Most sustainable studios don't rely on a single revenue stream.
### Member contributions
- Member shares - equity buy-in when you join
- Member loans - members lending to the co-op, sometimes with interest
- Sweat equity - labour contributed before there's money to pay wages
- Member shares – equity buy-in when you join
- Member loans – members lending to the co-op, sometimes with interest
- Sweat equity – labour contributed before there's money to pay wages
### Grants and public funding
- Arts councils - Ontario Arts Council, Canada Council
- Industry programs - Ontario Creates, Canada Media Fund, etc.
- Arts councils – Ontario Arts Council, Canada Council
- Industry programs – Ontario Creates, Canada Media Fund, etc.
- Municipal and regional funds
- Project-specific grants
### Revenue from work
- Publisher advances and deals
- Platform funding - Epic MegaGrants, id@XBOX etc.
- Platform funding – Epic MegaGrants, id@XBOX etc.
- Client work and contracts
- Direct sales
- Crowdfunding
- Service/contract work - porting, QA, art assets, sound design for other studios
- Adjacent creative work - animation, writing, interactive installations
- Knowledge work - workshops, speaking, consulting, teaching
- Service/contract work – porting, QA, art assets, sound design for other studios
- Adjacent creative work – animation, writing, interactive installations
- Knowledge work – workshops, speaking, consulting, teaching
### Investment and loans
@ -73,7 +69,7 @@ Most sustainable studios don't rely on a single revenue stream.
This needs to be a collective and intentional decision. Developing and maintaining these streams require time and effort that can eat into your actual game development.
*Coops have different capital options than traditional startups.* Venture capital doesn't work for us - VCs want big returns on their investment and eventually an "exit" (sale), which conflicts with worker ownership. On the other hand, we have access to funding streams that prioritize social impact over profit maximization.
*Coops have different capital options than traditional startups.* Venture capital doesn't work for us – VCs want big returns on their investment and eventually an "exit" (sale), which conflicts with worker ownership. On the other hand, we have access to funding streams that prioritize social impact over profit maximization.
Cooperation among cooperatives is one of the ICA cooperative principles we talked about a few weeks ago. When you do take on client or contract work, consider prioritizing work with other coops and solidarity economy organizations. This is a way we can build a "trade network" that helps everyone!
@ -81,7 +77,7 @@ So think about: What funding sources has your studio used or considered? What fe
---
## Part 2: Financial transparency - 15 min
## Part 2: Financial transparency – 15 min
### Why transparency?
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- Share monthly financial summaries with all members
- Open-book policy (anyone can see the full accounts)
- Make all compensation transparent (everyone knows what everyone earns)
- Plan budgets collectively - this practice is sometimes called *participatory budgeting*, where members have real decision-making power over how money is allocated
- Plan budgets collectively – this practice is sometimes called *participatory budgeting*, where members have real decision-making power over how money is allocated
### Tips for accessibility
- Use plain language - not everyone speaks accounting.
- Summarize number-dense spreadsheets (we have 8 months of operating costs in the bank)
- Create space for questions. There are no embarrassing questions about money - most of us were never taught this stuff.
- Use plain language – not everyone speaks accounting.
- Summarize number-dense spreadsheets ("we have 8 months of operating costs in the bank")
- Create space for questions. There are no embarrassing questions about money – most of us were never taught this stuff.
- Visual dashboards can help. Tools like [CoBudget](https://cobudget.com/) or [OpenCollective](https://opencollective.com/) make finances visible, or even just a shared spreadsheet
### Tell the messy truth
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### Common resistance
We have heard - what if competitors see our numbers?
We have heard – what if competitors see our numbers?
But for real - what's actually at risk versus what's just discomfort? Most studios aren't competing on secret financial information. Is this fear really about vulnerability?
But for real – what's actually at risk versus what's just discomfort? Most studios aren't competing on secret financial information. Is this fear really about vulnerability?
*Resource: [Seeds for Change - Finance](https://www.seedsforchange.org.uk/finance)*
*Resource: [Seeds for Change – Finance](https://www.seedsforchange.org.uk/finance)*
---
## Part 3: Compensation models - 20 min
## Part 3: Compensation models – 20 min
SO! How do cooperatives pay people? There's no single right answer, but whatever you choose should be transparent and collectively decided.
@ -144,7 +140,7 @@ SO! How do cooperatives pay people? There's no single right answer, but whatever
Whatever model you choose, *think about: What do we collectively believe is fair, and can we talk openly about it?*
### Activity - 10 min
### Activity – 10 min
In studio groups, discuss:
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---
## Part 4: Profit-sharing basics - 20 min
## Part 4: Profit-sharing basics – 20 min
### What is profit-sharing in a coop?
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*Wages:* Payment for work performed. This is an expense, not profit-sharing.
*Patronage returns (or "dividends"):* Distribution of surplus based on members' contribution to the coop - usually measured by hours worked. This is what makes coops different: surplus flows to the people who created it, not to outside investors.
*Patronage returns (or "dividends"):* Distribution of surplus based on members' contribution to the coop – usually measured by hours worked. This is what makes coops different: surplus flows to the people who created it, not to outside investors.
*Member shares:* Your equity stake in the coop. Usually a fixed amount you pay to join, returned when you leave.
@ -181,7 +177,7 @@ When the cooperative has surplus (revenue beyond expenses), how does it get dist
This is a *values* conversation!
- Build a reserve first. How many months of runway do you want before distributing anything? - there's no right answer.
- Build a reserve first. How many months of runway do you want before distributing anything? – there's no right answer.
- Distribute when you have genuine surplus, not just a good month
- Decide collectively if you want cash now or investment in the studio's future?
- Some coops allocate a percentage of surplus to a "collective account" for shared needs
@ -190,19 +186,19 @@ This is a *values* conversation!
Cooperative legislation is provincial in Canada, so the rules depend on where you incorporate.
*Ontario:* Worker coops can distribute patronage returns to members based on their labour contribution. There's flexibility in how you structure this - you decide the formula in your bylaws.
*Ontario:* Worker coops can distribute patronage returns to members based on their labour contribution. There's flexibility in how you structure this – you decide the formula in your bylaws.
*Federal:* You can also incorporate under the Canada Cooperatives Act, which has its own rules.
However you structure it, patronage returns flow to workers based on their labour - not to outside shareholders based on their investment. This is the legal mechanism that grounds worker ownership.
However you structure it, patronage returns flow to workers based on their labour – not to outside shareholders based on their investment. This is the legal mechanism that grounds worker ownership.
### Discussion
questions about how this would work for your studio?
Any questions about how this would work for your studio?
---
## Part 5: Who owns what you make together? - 10 min
## Part 5: Who owns what you make together? – 10 min
We've talked about how surplus flows to members. Buuuut, before you can share surplus you need to decide *who owns* what you're creating together!
@ -213,18 +209,18 @@ Cooperatives can do this differently with explicit decisions!
### Questions to discuss as a studio
1. Who owns the game?
- the cooperative as an entity? individual members jointly? a mix?
- if the coop owns it, what happens to that ownership if someone leaves?
– the cooperative as an entity? individual members jointly? a mix?
– if the coop owns it, what happens to that ownership if someone leaves?
2. What about work created before the coop formed?
- if someone brings existing assets, code, or designs into the project, do they retain individual ownership or contribute it to the collective?
- how do you value those contributions?
– if someone brings existing assets, code, or designs into the project, do they retain individual ownership or contribute it to the collective?
– how do you value those contributions?
3. What happens if someone leaves mid-project?
- do they retain any ownership stake in work they contributed to?
- can they take "their" assets (character designs, code they wrote) with them?
- what's the difference between leaving voluntarily vs. being asked to leave?
– do they retain any ownership stake in work they contributed to?
– can they take "their" assets (character designs, code they wrote) with them?
– what's the difference between leaving voluntarily vs. being asked to leave?
4. What happens if the studio dissolves?
- who controls the ip? can one member buy out others?
- what if you can't agree?
– who controls the ip? can one member buy out others?
– what if you can't agree?
*Not deciding* means you're going to default to whatever legal structure you eventually incorporate under. Worst case scenario is realizing too late that everyone's expectations were mismatched.
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"Sweat equity" is complicated. Some coops track hours and convert them to ownership stakes. Others treat all founding members as equal regardless of hours contributed. However you do it, everyone needs to understand and agree to the approach.
*Use your Peer Support session to start this conversation. You don't need answers yet - just notice where you're in agreement and where you're uncertain.*
*Use your Peer Support session to start this conversation. You don't need answers yet – just notice where you're in agreement and where you're uncertain.*
---
## Closing - 5 min
## Closing – 5 min
Financial conversations can be really difficult. They reveal vulnerabilities, and tensions about values, fairness, and trust. There's so much space for conflict to show up here.