What is the video all about?

How is it possible that a business with 10,000 workers doesn't have a CEO? To answer that, we have to talk about what a co-op is and why they were founded. Let's rewind to 1844. A group of 28 weavers in Rochdale, England came together to create and co-own a store. By (1) directly from suppliers, they could negotiate prices, which allowed all of them to buy stuff they couldn't otherwise afford. They ran the store (2) , which was remarkable at the time. The Rochdale Society of Equitable Pioneers wasn't the world's first co-op, but it was the first to publicize its principles— principles that (3) to this day. Today, there are all kinds of co-ops: REI in the US and S-Group in Finland are large consumer co-ops. Credit unions and mutual insurance companies are (4) co-ops. And when farmers or other producers come together, that's a producer co-op. And then there are worker co-ops, like Mondragon in Spain or The Cheeseboard in Berkeley, California, which are founded to provide jobs to people in the community. Some consumer co-ops, like Park Slope, require their members to (5) in the store. In exchange for their work, members pay 15 to 50% less for groceries, and they influence what products are— or aren't— sold there. Three (6) to know about co-ops: First, all co-ops are (7) their members, whether those members are consumers, producers, workers, or whoever. Unlike traditional companies, which can have (8) , all owners of a co-op are also members.

Second, co-ops are not founded to (1) . Many do turn a significant profit, but that's not their core mission. So evaluating a co-op purely by traditional (2) ignores the most important reason for their existence: How well do they serve their members? Third: Co-ops are controlled democratically by their members. But how do decisions get made? It varies. At a small worker co-op like The Cheeseboard, Day-to-day operational decisions are made just by the workers. As co-ops get larger, they do (3) of leadership or management. Park Slope has a general manager who leads the 80 or so employees. And the largest network of worker and consumer co-ops in the world, Mondragon has a president and managers who lead the roughly 30,000 (4) and 50,000 (5) . But leadership roles in a co-op are very different than in a traditional company. The leadership implements policies that its members or worker-owners have agreed upon, (6) . And at Mondragon workers can vote to fire the president. At a co-op, there's no single person with (7) , top-down power over everyone else, like a CEO would have in a traditional company. Meanwhile, in both co-ops and traditional companies, major company-wide decisions are made by voting. But who votes and how is (8) .