Joshua Baker

Case Study

Not Optional

The campaign by the venture firm Index Ventures to fix employee equity law across Europe. I defined the digital strategy and led the team that built its platform. The law has since changed in 11+ countries.

Role
Technical Lead
Tenure
2018–2024
Scope
Strategy, Brand & Web
Team
Lead for design & build team

Not Optional is Index Ventures’ campaign to fix Europe’s punitive and inconsistent rules on employee equity, keeping European startups competitive with the US and China for high-skilled talent.

Working with Vojtech Horna, the firm’s VP of Communications, I defined the digital strategy and led the team that built the campaign. The project started as a letter to European policymakers, carrying the verified signatures of heavyweight supporters, backed by a public pledge system.

When COVID closed venues, the campaign’s events ran through the platform too, and it grew into the press platform and foundation for everything that followed. This included the country ranking table debated on stage by Rishi Sunak and Elon Musk at the AI Safety Summit.

The campaign changed the law in 11+ countries and helped put over €5bn more into the hands of European startup employees.

Not Optional is a campaign founded by Index Ventures to keep European startups competitive with the US and China. The initiative targets legislators across Europe, pushing them to fix punitive and inconsistent rules around employee equity. Without change, the continent risks falling behind in attracting the high-skilled workers that drive innovation and economic growth.

I worked with Vojtech Horna, Index Ventures’ VP of Communications, to define the digital strategy, and led the team that built a platform to turn policy arguments into grassroots momentum. It had to reach two very different audiences and make a credible, data-backed case to both: founders who live on their phones, and policymakers reading on desktop screens in government offices.

Since launch, support has come from founders, CEOs, investors, and employees across the tech ecosystem, and the argument has reached the highest levels of government and industry.

Solution

The centrepiece was an open letter to European policymakers, laying out how inconsistent equity rules were costing the region its competitiveness. Beneath the letter sat the signatures of heavyweight supporters, many of whom had built their success from European roots.

To broaden support beyond the initial signatories, my team built a system to collect public pledges from founders, employees, and investors. This was a prominent venture firm’s campaign, so the authenticity of every name mattered. The system validates identity via email, and a moderation interface lets the Index Ventures team approve signatures before publication.

Design

The brand needed to strike a balance: clean and professional enough for policymakers, engaging enough to capture the attention of time-poor founders. I directed the design work, and my team built a visual system that worked across the website and social media, keeping the Not Optional identity consistent wherever it appeared.

A concise palette and bold typography make the message land, and infographics turn complex policy information into something you can grasp at a glance.

The finished identity conveys quality and urgency without tipping into alarm. The design stays out of the way and lets the argument speak.

Platform

When COVID closed event venues, the campaign’s events moved onto the website. For long stretches, Not Optional happened entirely online. The site doubled as the campaign’s press platform, and what began as a letter became the base everything else was built on.

That included the reporting work below, which was later discussed by Emmanuel Macron and other heads of state across Europe.

Ranking

As support grew, we saw an opportunity to encourage participation. From previous work with think tanks, I knew that data visualisations often help show where the work needs to be done. We added a ranking table comparing European states on their equity legislation, with the tech-leading countries included as benchmarks. My team built the page to factor in several subcategories (scope of stock option plans, tax implications, bureaucratic hurdles), with scores the Index Ventures team could update through the CMS as policy shifted.

The table created healthy competition among states and gave the campaign a tangible way to measure its own impact over time. Unsurprisingly, policymakers love being at the top of a league table. At the AI Safety Summit, the ranking was the subject of an on-stage discussion between UK Prime Minister Rishi Sunak and Elon Musk.

Not Optional
The country ranking table, scoring each state on plan scope, strike price, and more — green arrows showing improved scores over time
Founders and supporters of the campaign in its circular duotone portrait treatment, drifting in and out of frame
A scroll through the Not Optional site — the open letter and its 700+ signatories, press coverage, and the sign-the-letter form
The campaign’s type pairing: GT Super Display for headlines, GT Walsheim in support
The campaign palette sliding through its swatches, each carrying its design-token name and hex value
Signatories to the open letter, with prominent figures like Patrick Collison, Sebastian Siemiatkowski, and Taavet Hinrikus among them
The Not Optional logo alternating with the red Index Ventures logo
Gallery

Impact

The campaign changed the law.

France simplified the tax treatment of stock options and share-based pay. Ireland, Spain, and the Netherlands rewrote their own rules. Germany overhauled its employee ownership regime to climb from the bottom of the rankings to level with the US, with Austria and the Czech Republic close behind.

At the time of writing, the UK has gone furthest, expanding its Company Share Option Plan and reforming EMI to become the top G7 country for employee stock options.

The fight has since gone pan-European. EU Inc, a fast-growing campaign for a single set of rules for startups across Europe, stock options included, now carries it forward.

€5bn+
more in the hands of European startup employees
11+
countries improved stock option policies
7
European countries now match or beat the US
500+
founders demanding politicians act


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