Comment by DyslexicAtheist
6 years ago
They are an SPC not aln LLC. Does anyone know what is the difference between a Washington SPCs and LLCs? Is it true that as mentioned here[0] that:
> I think the story is that Washington SPCs are LLCs in pretty much every aspect besides shareholder-board disputes.
and, why
> have they never made a Social Purpose Report available despite the fact that they've been an SPC for two and a half years?
from the bottom of the article[1]:
> It is also worth keeping in mind that Purism isn't actually incorporated as a typical LLC (Limited Liability Company). They are actually incorporated as a SPC (Social Purpose Corporation) in the state of Washington. The primary difference between an LLC and an SPC in Washington is that SPCs can do things that are in the best interests of their customers rather than always doing things that are in the best interests of their shareholders. It is also important to know that in Washington this status comes with some extra regulatory requirements ...
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if formed as an SPC, shouldn't they be transparent in how they allocate budgets to internal projects (as proof that they do what is outlined in the Social Purpose Report (SPR))? It's a shame they don't produce a SPR which could be used to verify the claims about price in this post.
[0] https://jaylittle.com/post/view/2019/10/the-sad-saga-of-puri...
the failure to publish an SPR could result in law suits against purism. Fixing this wouldn't cost much and only be a net positive (for new financial backers). Failing to publish a report was probably not malicious (just laziness). Still it's negligent (IMHO). And if the rumor is true that they are having liquidity problems (as conjectured by the author of the blog post), then they do not deserve the trust given to them by their current financial backers on kickstarter or the tech community who evangelize them.
We urgently need alternatives and I do want Purism to succeed.