Valve is a close approximation of a worker's co-op, if it had 300 (?) members. There are many insights to be gleaned from this type of business, the difference being that Valve for sure has a boss (or many), because it's not a worker's co-op, no matter how much it pretends to be. However a leader is not a boss, and you can tell the difference when you've been a part of worker-owned startups.
That said, true co-ops of all sizes also struggle with compensation. Much like startups, you want to reward early risk acceptance and loyalty while preserving fairness based on skill and contribution (otherwise you won't be able to recruit new members). It's really, really hard.
(I know who you are but I figured it was worth commenting since others may not know as much on the subject).
That's one downside, co-ops tend to remain small, due to the difficulty of scaling horizontal structures. This means it's easier to start one than to join one.
(This is also why I highly suspect Valve is not truly horizontal: you will never get 100 people to agree on anything important.)
That said, true co-ops of all sizes also struggle with compensation. Much like startups, you want to reward early risk acceptance and loyalty while preserving fairness based on skill and contribution (otherwise you won't be able to recruit new members). It's really, really hard.
(I know who you are but I figured it was worth commenting since others may not know as much on the subject).