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I am also a member of a co-op. I think it's a very compelling scenario for a site like this. Of course, it is messy as can be, but how easy is it for a site to become captured by outside interests when the folks that made the deals can be replaced in the next elections?
Since they are elected by the community, it should hopefully not be a problem, since they represent the wishes of the community. Some sort of safeguards need to be in place, perhaps. I recommend checking this out, Reddit was on its way to become decentralized, but it was stopped by a new round of funding and Yishan leaving:
[...] how easy is it for a site to become captured by outside interests when the folks that made the deals can be replaced in the next elections?