Today, that privatization movement is alive and pushing ahead, with Republican legislators in 16 states actively pushing bills to create or expand school vouchers and/or charter schools that are part of that movement. What and who are fueling the movement to privatize public education — and why you should care This post — a continuation of sorts of the Barkan article — is a discussion with a man named Charles look at this now Siler, who was once a lobbyist for school privatizers but who came to oppose the very thing he was working toward. Siler worked for two privatization organizations, including the Goldwater Institute in Arizona, where his job was to persuade legislators to pass laws that privatize public services, especially K-12 schooling. In March, Siler had a conversation with education historian and activist Diane Ravitch as well as with podcaster Jennifer Berkshire, in which he provided insight into the playbook used by “school choice” proponents, the belief system that drives them and their long-term objective. He makes it very clear: Their ultimate goal is to dismantle K-12 public schools. Carol Burris, a former prizewinning principal and executive director of the nonprofit advocacy group the Network for Public Education, did a Q&A with Siler on the same issues. Here’s the interview Burris did with Siler: BURRIS: Charles, can you tell me about yourself — specifically, for whom did you work as a lobbyist for privatizing public services, and why did you leave that work? SILER: I am Charles Siler, former Army public affairs and graduate of George Mason University with an economics degree. I lobbied and did public relations for the Goldwater Institute in Phoenix, Arizona, and the Foundation for Government Accountability in Naples, Florida. Both organizations are part of the State Policy Network, a collection of libertarian/conservative policy organizations around the country. While there, I promoted medical freedom legislation, programs to increase limitations on public assistance programs and school privatization programs. I eventually left as I realized I wasn't a great fit for that work. The outcomes weren't aligning with my values. I grew up truly believing the best way we could help the most people was to get the government out of their lives. But if you take a look at the actual impacts of libertarian policies when they're implemented, it becomes apparent, they aren't helping people, and in fact, they make people worse off. I couldn't continue to do the work I had done. Now I work to educate people about the problematic programs I had helped promote and how we can build something better. BURRIS: Let’s get straight to the point.https://www.washingtonpost.com/education/2021/04/16/former-lobbyist-details-how-privatizers-are-trying-to-end-public-education/
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There are firms that specialise in revenue-based financing. To start with, these companies look at parameters like revenues, cash flows, operating margins, scalability and growth potential among other things as part of their due diligence. Once convinced with the potential borrower’s prospects, they lend the required capital at a mutually decided rate of interest or fee. Interestingly, this is quite similar to how an angel investor or even a VC would function, but what makes revenue-based financing different is the manner in which the funds are repaid by the borrower. The borrower commits to sharing a part of the business revenue with the lender. In other words, both the principal and the fee or interest that the lender charges, is returned from the revenues that the company earns during the normal course of the business. India reaches out to US companies over investment in pharmaceutical, medical devices sector What are the advantages of revenue-based financing? The advantages are manifold. The biggest advantage is that promoters of the borrowing entity do not need to dilute any stake or bring any collateral even while getting access to the much-required funds. This is just not possible when raising funds from angel investors or venture capital firms. Incidentally, this also ensures that promoters continue to enjoy complete freedom in managing the affairs of the company. Typically, entities like private equity or VCs insist on a board seat and are known to interfere in the way businesses are managed in their investee companies. Secondly, revenue-based financing can be helpful to ventures that cannot get bank funding due to lack of collateral or profitability or any other reason that could act as a hindrance. How is revenue-based financing picking up in India? There are firms that specialise in revenue-based financing. Some of the prominent names in India include GetVantage, Klub, Velocity Finance and N+1 Capital among others. The growing popularity can be gauged from the fact that the last 5-6 months have seen nearly 100 revenue-based financing deals in the country. The ticket size could be as low as Rs 5 lakh while going up to a few crores depending on the specifics of the deal. “Revenue-based financing is essentially simplified venture financing without the hassles of collateral or stake sale. It is like founders helping other founders,” said Bhavik Vasa, Founder & CEO, GetVantage.https://www.moneycontrol.com/news/business/startup/explained-what-is-revenue-based-financing-and-why-it-is-becoming-popular-6867341.html