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Discuss first meeting Date and Agenda


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Please use this thread to discuss the date of the meeting and the agenda for the first meeting.

 

 

We are currently 8 registered members.

 

The ideal would be that we can get to 10 members in this week and then do the meeting over the weekend by means of skype.

 

Should a member not be able to use skype or a similar service due to whatever reason be rest assured the initial meeting will be digested into an E-mail and send to you.

 

Nothing will ever be implemented with all members being aware although it is strongly suggested to attend the Skype/Hangouts/SimilarService online meetings.

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Would it be possible for a member to "go with the flow" and just always agree to whatever everyone else decides on, almost like giving proxy to someone else? Similar to being a silent partner in a business I guess.

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Would it be possible for a member to "go with the flow" and just always agree to whatever everyone else decides on, almost like giving proxy to someone else? Similar to being a silent partner in a business I guess.

 

At the first meeting the Bylaws will be created/discussed. 

 

"Go with the Flow" status can be incorporated into the rules I am sure of that although participation is encourage.

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We should also discuss smaller nuances like maximum ownership.

 

Out of experience I know some members might feel they want to contribute more than the minimum amount which I feel they should be able to in essence, Members are welcome to invest as much as they like so long as it doesn’t exceed 30% of the club’s total valuation.

 

Just an example something like that should only be allowed after a member has been a member for six months minimum in order to qualify to override the minimum if they so feel.

 

Which if there capital account reached 30% they would be ask to make lesser contributions until the club catches up and there capital account is no longer 30% of the total valuation.

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I can understand your view on why you feel limiting is important, however looking at it from someones perspective that might want to invest 30 times more than the "average" contribution, wouldn't that cause potential members to turn away as they'd feel restricted?

 

It's unit based system after all, your "voting power" doesn't increase the more units you have.

 

Should be an interesting discussion when the time comes.

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I think the idea behind the maximum ownership rule is to prevent any one person or group of people from exercising too much “control” of the club. Which if we had a vote weighed on Capital Account, this would have been a problem and we need to impose a limit.

 

However currently we are leaning towards a "One person, One Vote" system which brings it's own set of disadvantages; Can you imagine Warren Buffett endorsing a shareholder proposition that would allow each shareholder (including himself) a single vote regardless of whether they owned 33 percent of the company?

 

Yet, this is exactly what we are doing if we restrict voting to “one person, one vote.” Members with the most at risk in the club, often those with the longest terms and greatest amount of experience, are relegated to a minority position. By and large, what’s good for these members is good for the club, and I’d never join a club where new, less-experienced club members could have a greater say in the club’s investments.

 

I do, however, endorse a compromise whereby voting is conducted on a “one-person, one-vote” basis by default, provided that any member can call for a vote weighted by capital accounts if desired. This accommodates ease of tallying votes in a meeting but allows members with a greater interest in the club the protection they deserve.

 

We need to think long term 10 years from now when we have a noteworthy amount in the bank.

 

Needless to say this will be a hot one on the agenda for the first meeting.

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Lets put a date together:

 

How does Saturday night the 11th sound?

 

Otherwise a Sunday afternoon meeting?

 

We need to do the meeting before the 15th or move the 15th which I don't think we should do?

 

We only have around 3 -5 active forum members on here, perhaps an email with given date would suffice?

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We only have around 3 -5 active forum members on here, perhaps an email with given date would suffice?

 

Fully agree, 

An E-mail will be send out to all 11 club members directing them to this thread in a few minutes.

 

As per the communications agreement -> http://www.platinumwealth.co.za/forum/showthread.php?tid=9 members will be responsible to view the forum every now and again to stay up to date.

 

The current whatsapp group will get a notification now after that the group will be close down to only the 11 members at which point the whatsapp group will be used for notifications only.

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From Skype Website:

 

Group Video Calling Fair Usage Policy

 

Group video calls are subject to a fair usage limit of 100 hours per month with no more than 10 hours per day and a limit of 4 hours per individual video call. Once these limits have been reached, the video will switch off and the call will convert to an audio call.

 

Had no idea there's now FUP's on skype, feels like Mweb.

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