'Startup' , 'Equity', and why definitions matter
In ‘dot-com’ and ‘tech’ spaces, the terms ‘startup’ and ‘equity’, are rarely defined when used. These terms are subjectively defined and applied accordingly. Contextual understanding of these definitions is directly related to the foundation, development, sustainment, and function of an organization/ startup.
Bolded Definitions from Oxford Dictionary:
Startup : a newly established business
The term ‘startup’ is often used in a way where understanding is presumed. The question then arises: what formations of ‘business’ qualify as ‘startups’? Are non-profits (and other organizational structures) included when commodification of a product or service is not central to their mission or 'key activities'? The term startup ought to be used to describe a wide-range of models. By doing so service-based models can change profit-based ones.
Equity: Quality of being fair or impartial
Gaps in academic literature demand personal experience to define equity. Xavier Buck (community research consultant), History PHD candidate at University of California Berkeley and Deputy Director of the Huey P. Newton Foundation, asks: “How do you define equity?” Many Corporations, as well as Non-Profit and Community-Based Organizations use the term ‘equity’ with discretion. When equity is defined, the question becomes ‘for whom?’. Who decides what is morally right and fair and how it is achieved?