Securities and Exchange Commission just approved silicon valley stock exchange formally known as Long Term Stock Exchange (Long-Term Stock Exchange ).
Idea was first proposed by Eric Ries in his book Lean Startup. It has some interesting yet controversial provisions such as voting power proportional to the amount of time you’ve held the stock.
Apparently, the exchange has backing from likes of Marc Andreessen, Peter Thiel, Ev Williams (founder of Medium). Masayoshi Sun is already talking about taking his Vision Fund public.
After companies such as Lyft and Uber struggling in stock market after IPOs, silicon valley executives constantly worry about short term quarter over quarter approach of Wall Street, which could be good or bad given which side of the equation you are on.
This is definitely a novel idea, and hopefully, we won’t have to deal with another Theranos.
Either ways, like Eric Ries himself puts in his book, product development has to be an iterative approach of constantly upgrading your product until it works seamlessly!
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