All should have access to equity.

Thanks to the sharing-economy revolution, it is easier than ever to earn a living. With so many platforms for ridesharing, lodging, and even dog walking, this is the best time in history for talented people to find independent work. Unfortunately, the law has been slow to catch up. Under the current laws, private platforms typically cannot grant equity to their members. This creates a rift between a sharing-economy company and its users, who cannot have a stake in the platform as a whole.

Our goal is to update the regulatory framework to keep pace with technological advancements in our economy.

We call on lawmakers and the SEC to amend Rule 701 to establish criteria for a Sharing Economy Award Exemption to include companies which provide a marketplace for independent users, derive substantial revenue from fees related to exchanges on the marketplace, and control the marketplace by regulating its users, fees, terms and/or conditions and allow these companies to grant equity-based compensation to the millions of American workers that are vital to the gig economy.

Our Goal

Thanks to the sharing-economy revolution, it is easier than ever to earn a living. With so many platforms for ridesharing, lodging, and even dog walking, this is the best time in history for talented people to find independent work. Unfortunately, the law has been slow to catch up. Under the current laws, private platforms typically cannot grant equity to their members. This creates a rift between a sharing-economy company and its users, who cannot have a stake in the platform as a whole. Our goal is to update the regulatory framework to keep pace with technological advancements in our economy.

The Path Forward

Stock ownership is an important driver of economic security and mobility. Beyond the obvious financial benefits for workers, it allows sharing economy companies to compete for talent and align the interests of their workers with the company. Ultimately, this would result in better service for consumers.

Action

We call on lawmakers and the SEC to amend Rule 701 to establish criteria for a Sharing Economy Award Exemption to include companies which provide a marketplace for independent users, derive substantial revenue from fees related to exchanges on the marketplace, and control the marketplace by regulating its users, fees, terms and/or conditions and allow these companies to grant equity-based compensation to the millions of American workers that are vital to the gig economy.