I think the way for Monzo to solve this is the bring the management of the shares in house. Time to ditch Crowdcube.
While I agree that trust has been affected on both fronts, it is with Crowdcube that I have lost the most trust. It is poor on so many levels.
Something smells fishy to me
Also not impressed with this. Sorry state of affairs when I just don’t believe the content of the email from Crowdcube. This has damaged Monzo’s reputation too.
If we assume that the most engaged Monzo-ers use this forum and further that the most engaged monzo-ers probably have an early steak, and we observe that the vast majority of this forum was negative then how the hell did that result come out so one sided? As i speculated earlier, lots of monzo employees have early crowdfunding steaks and maybe felt compelled to support the motion / have more info than we do as to why it is a good thing
Whilst it makes total sense in some aspects, it is pretty outrageous in others. It surely means that one person with a huge sharehold in Monzo can just completely bias the system against loads of people that voted in the opposite direction?
@Hannah_Crowdcube Two questions, if I may?
Can we / will we get a breakdown on the statistics behind how many people voted on what and how much their sharehold influenced the total vote count? Anonymously, of course.
The shares I’ve purchased are tiny in comparison to other shareholders, I’m sure. That being said, how do the fees work? Do fees get taken directly out of the shares I own or can they actually affect my finances outside of Crowdcube?
I’m a total novice to investing, so, excuse the amateurism.
[quote=“danielh, post:336, topic:60519, full:true”] It surely means that one person with a huge sharehold in Monzo can just completely bias the system
[/quote]
My previous assumption was that the biggest holding someone could have in this vote was £1000 x 3 (roughly) - the same as me. But now you say it, the question is: could tom, just for purely example purposes only, who owns lots of early shares, completely sway this vote with a single vote?
Edit: updated to reflect Will’s reply
I don’t think Tom holds shares through Crowdcube Nominee.
£1000 x 3, I think (with the third being £1023)
Was this vote limited to shares purchased via crowdcube and via crowdfunding only or did it involve broader investor base? Did passion vote on this?
Sorry, I changed my username so it broke your mention 
Going by the aforementioned figures, it certainly seems something like this has happened because the outcry in this thread regarding the new terms was enormous and the statistics just do not add up to that outcry.
That’s why I’d like to see some anonymized data that represents votes and how many shares the voter held to see if this is what has happened.
Interesting outcome none the less!
I think it was restricted to the Crowd, and excluded the last round.
I think it was restricted to small shareholders who invested through Crowdcube (no VCs or other big fishes)
There is only a tiny % of shareholders who have commented on this thread. Most aren’t even on the forum so you can’t take this as representative of all shareholders opinions
Can you guys share how many people voted and how many voted yes and how many voted no?
Thanks,
Brent
Yes but unless there’s something that makes forum users unrepresentative (which is entirely possible) then taking sentiment here as a sample of the entire group of shareholders should be a good indication.
Some who interacted with this thread (like myself) isn’t/aren’t first/second round crowdfunders so that sways it.
It is also on total shareholding in those rounds, so those with the loudest voices may only have a few shares.
I do remember seeing a tweet from Tom during the first funding round with a picture showing he had invested in it.
Forum users are definitely unrepresentative. Not just on this, but on everything. We are a tiny minority of Monzo users. Maybe not so tiny in this case, but it’s still a very small number of total 1st & 2nd round investors. Presumably the majority read the email, believed what Crowdcube said, and voted for it.
Edit: There are 111 people who have contributed to this thread (including people like me, who couldn’t vote on this). I don’t know how many Crowdcube investors Monzo had from the first two rounds, but just the second round allowed for 2,000 investors at the maximum amount (and we know the average investment was much less than £1k). So this thread represents a low single-digit percentage of eligible investors (2% at most?).
I think this may very well be the case.
In my own experience at least, having no experience in investing, I was just going to vote yes. A little bit of doubt made me do some research which is when I found this thread and decided to go with what the majority were saying - to vote no.
I’d also be interested to know if Monzo employees were told / advised to vote one way or another, if that’s allowed, I don’t know.
This is extremely disappointing.
It feels very wrong to have the terms changed in such a negative way for people who have supported since the early days.
Now I’m just waiting for the next Crowdcube vote to appear - what rights will be taken away next, what new fees will be forced on everyone?