Trick or Treat

What Trick or Treat does

Trick or Treat (legally housed under MoneyVoice, a Delaware Public Benefit Company) is a pre-launch climate activism venture that intends to operate a community-driven exchange-traded fund (ETF). Founded by Brent Schulkin in October 2021, the company's model targets publicly listed companies, challenges them to take specific climate actions, and applies a 'treat or trick' mechanism: compliant companies receive coordinated promotional campaigns intended to boost sales and stock price, while non-compliant companies face coordinated brand destruction and stock divestment. The fund has not yet launched and the firm is gathering investment pre-commitments against a stated $50M minimum AUM threshold, with approximately $792,522 in stated pre-commits disclosed publicly.

The core products and infrastructure include the planned Trick or Treat ETF (planned as a non-transparent ETF via SEC-approved structure partners such as Active Shares or Blue Tractor), the Hijack Capitalism educational video series produced from April 2023 to October 2024, and a $10/month membership community on Circle. Governance layers include the Brain Trust (invite-only expert advisory), the Commission (climate activist voting body), and the Candymakers Program (community-funded promotional campaigns). Strategic intent is to delegate proxy voting to As You Sow, a shareholder advocacy non-profit. The technology stack is entirely composed of third-party SaaS tools (Stripe, Circle, Mailchimp, GrowSurf, Height, Zapier); no proprietary technology platform exists.

The business model contemplates two revenue streams once fully operational: a 1% annual management fee on ETF assets under management and $10/month community membership fees. Currently, the firm generates only membership subscription revenue and is bootstrapped with no institutional funding disclosed. The company employs 1-10 people, with founder Brent Schulkin working a separate full-time job pending sufficient membership revenue. Target customer segments are climate-conscious individual retail investors seeking both financial returns and climate impact, and climate activists/creatives who may be paid through fund activities. The venture has not yet generated revenue from its core ETF offering and remains in pre-launch community-building phase.

Name

Trick or Treat

Legal name

MoneyVoice

Website

https://trickortreat.co

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Trick or Treat is a pre-launch venture building a community-driven climate activism ETF that challenges public companies to take climate action, rewarding compliance with promotional campaigns and penalizing refusal with brand destruction. It targets retail investors and climate activists and has not yet launched its core fund.

Ownership category

akta.pro rank

Product category

Climate Impact Investing

NAICS

Advertising Agencies (54181)

SIC

Services-Advertising (7310)

akta.pro primary industry

Brand Activations & Pop-Ups (Retail/Street/Guerrilla) (BPAFAGAF)

akta.pro secondary industries

Guerrilla & Street Marketing (MPAAAGAH), Sweepstakes, Contests & Giveaway Administration (BPAFAMAD)

Keywords

• Climate impact ETF
• Activist investment funds
• Impact investing
• Sustainable finance
• Membership community

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. ETF Management Fees: Annual fee of 1% charged on assets under management in the ETF. This covers normal fund management expenses including analyst salaries and operational costs. Additional membership fees cover costs of paying climate activists and artists for promotional campaigns.
2. Membership Fees: $10 per month membership to access the Hijack Capitalism community. Members gain access to online community chat, email newsletter, video live streams, and videos of investment meetings. Revenue enables founder to work full-time on the project.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Trick or Treat is a pre-launch climate activist investment initiative that plans to operate as an exchange-traded fund (ETF) offering a hedged portfolio of climate-related investments paired with a community-driven corporate climate activism campaign. While gathering $50M+ in pre-launch investment commitments, the company currently operates a paid online membership community for climate activists.

Product overview

Trick or Treat is a community-driven climate impact ETF that combines financial investment with activist campaigns. The core offering is the Trick or Treat Exchange-Traded Fund, which makes monthly stock investments in companies and challenges them to take radical climate action. The ecosystem includes the Hijack Capitalism video series/educational platform, the Membership Community ($10/month) for community discussion and decision-making, and governance bodies including the Brain Trust (expert advisory), the Commission (investment voting), and the Candymakers Program (community-driven promotional activities). MoneyVoice is the Delaware Public Benefit Company entity that legally houses the fund. The fund uses a treat-or-trick model: companies that agree to climate demands receive promotional campaigns to boost their brand and stock price, while those that refuse face coordinated brand destruction campaigns.

Differentiator

Problem solved

Functional benefit

Products and services

• Trick or Treat Premium Membership Paid monthly subscription at $10/month that grants access to a premium climate activist community organized around the Trick or Treat initiative, intended for individual climate activists and environmentally engaged citizens seeking community-driven climate action.
• Trick or Treat Climate Activist ETF (planned) Planned exchange-traded fund pairing a hedged climate portfolio with a community-driven corporate climate activism strategy; designed for retail investors seeking climate-aligned investment exposure coupled with activist engagement, with a stated 1% annual management fee.

Quantifiable outcome

• Target 80-85% company compliance rate ('treat' decisions)
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• As You SowcoreStrategic or Co-development PartnerTrick or Treat intends to give As You Sow (a shareholder advocacy non-profit) full proxy voting power for all shares held by the fund. As You Sow will vote on behalf of Trick or Treat to advance climate action. This leverages existing shareholder advocacy expertise and infrastructure.
• MoneyVoicecoreOthersBrent Schulkin started MoneyVoice, a Delaware Public Benefit Company, to pursue similar activist work. The company has no employees or funding but remains active. MoneyVoice will create the fund and take legal responsibility for Trick or Treat activities. Articles of incorporation state the purpose is to help people use power within commerce to drive business changes benefiting the public.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Vanguard (ESG ETFs): Low-cost incumbent with ESG ETF products such as ESGV. Comparable as a low-cost ESG benchmark against which Trick or Treat's 1% fee structure will be measured; Vanguard represents the cost-efficient mainstream alternative the company must differentiate against.
• BlackRock (iShares ESG ETFs): Largest asset manager globally with a broad family of ESG ETFs (e.g., ESGU, ESGD). Comparable as the incumbent ESG ETF product against which Trick or Treat will compete for climate-conscious investor dollars, though BlackRock takes a screening rather than activism approach.

Emerging players

• Calvert Impact Capital: Impact investing firm focused on climate and community outcomes. Comparable as a smaller, mission-driven investment manager that combines financial returns with measurable impact - a closer structural match to Trick or Treat than the large incumbents, though it lacks the brand-campaign angle.

Direct peers

• Inclusive Capital Partners: ESG-focused activist fund led by Jeff Ubben that engages portfolio companies on sustainability issues. Directly comparable as an activist investment vehicle using ownership stakes to pressure corporate behavior on environmental topics, the exact mechanism Trick or Treat plans to deploy.
• Arjuna Capital: ESG and shareholder advocacy-focused investment firm that files shareholder proposals on climate and social issues. Comparable as an activist investor that explicitly uses fund ownership to push corporate climate action, mirroring Trick or Treat's planned As You Sow partnership model.
• GreenWood Investors: Activist hedge fund that takes concentrated positions and engages with management to drive change. Comparable as a smaller, mission-driven activist fund using ownership stakes as leverage - similar in spirit to Trick or Treat's activist ownership approach.
• Engine No. 1: Activist investment firm that successfully pushed for board representation at ExxonMobil on climate grounds. Closest direct comparable: an activist fund using concentrated positions and shareholder advocacy to drive corporate climate behavior, the same thesis Trick or Treat proposes but with a brand-campaign layer added.
• Trillium Asset Management: Long-standing ESG-focused investment manager that engages portfolio companies on environmental and social issues. Comparable as a values-driven fund manager using shareholder engagement to drive corporate behavior - a more mature version of what Trick or Treat aims to build.

Others

• As You Sow: Shareholder advocacy non-profit and Trick or Treat's planned proxy voting partner. Not a competitor but an ecosystem participant; the company's planned model effectively makes As You Sow's advocacy infrastructure the engine of its investment strategy.
• Carrotmob: Climate activism organization previously led by Trick or Treat's founder Brent Schulkin. Not a direct competitor but a thematically related venture demonstrating the founder's prior track record with community-driven climate campaigns.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/7rickor7rea7
• YouTubeyoutube.com/@trick-or-treat
• Facebookfacebook.com/100085583011677
• Instagraminstagram.com/7rickor7rea7
• TikToktiktok.com/@7rickor7rea7
• LinkedInlinkedin.com/company/trickortreat

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trick or Treat