Dee Hock wanted to extend ownership, defined as 'nontransferable right of participation', to merchants and cardholders, but that was too much for the mental models in 1970, and even challenges our mental models today: VISA's cooperative/competitive ownership structure lasted until 2007, when it devolved into traditional shareholder ownership via IPO.

https://en.wikipedia.org/wiki/Visa_Inc.#IPO_and_restructurin...