4 ms·

> What does that mean concretely? I noticed there doesn't appear to be tangible answers to this anywhere (including in the reply you got to your comment). Curi

> What does that mean concretely? I noticed there doesn't appear to be tangible answers to this anywhere (including in the reply you got to your comment). Curious to pitch a supposed long-term stock exchange without anything meaningful to lure listings to it other than vapor statements. I'd bet it's because they can't set any strict upfront requirements. They won't be able to get the listings they need if they do it, the interest won't be there. So most of what they're going to try to do is espouse the mission goals, hoping over time they can gradually implement those controls.

kkotak 6y ago
Agreed. Just like everything else, the ideas hold more power based on who they are coming from. Eric is a stellar individual with a trail of success behind him - and I'm not taking anything away from him with this comment, but if I were to go to a set of worthy investors and corporations pitching this idea - I'd be laughed out of the room as naive.
- eries 6y ago
  I don't know if this is as true as you think. First of all, I've been laughed out of a lot of rooms for pitching this idea. Hundreds, by now. Further, although many VC's are indeed herd animals as you seem to suggest, there are a few bold ones who genuinely hunt for new and radical ideas and would be willing to back a first-time founder - if you're willing to do the work.
  - kkotak 6y ago
    Thanks for the response Eric. My point is about the audacity of the idea. Specifically, to open a new financial market place of the magnitude it would take to be viable, one would need - 1. significant experience in the space to understand the nuances, what's working, what's broken, etc. 2. Sizable investments and talent for operations (scale, uptime, compliance, etc.), 3. A well thought through G2M strategy (including derivatives, indices, options, day trading, HFT, etc.), 4. A broker network, 5. A true, unambiguous differentiator that is viable, measurable, enforceable, and timely.
    - eries 6y ago
      I'm not sure I had any of those 5 things when I began this journey, tbh
    - deleted 6y ago
      [deleted]
eries 6y ago
I see this criticism a lot in the various threads, but I don't really understand it. As a stock exchange, we are strictly regulated. We aren't allowed to make vague claims that are not backed up by regulatory filings, all of which are publicly available both on our website and at the SEC. For example (from least to most detailed): https://longtermstockexchange.com/listings https://longtermstockexchange.com/listings https://www.sec.gov/rules/sro/ltse.htm https://www.sec.gov/rules/sro/ltse.htm https://longtermstockexchange.com/static/principals_for_lt_success_white_paper-52e153e1e0be49bd178f74475f274ef0.pdf https://longtermstockexchange.com/static/principals_for_lt_s... https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf https://www.sec.gov/rules/other/2018/long-term-stock-exchange/long-term-stock-exchange-1.htm https://www.sec.gov/rules/other/2018/long-term-stock-exchang...

kkotak 6y ago

Agreed. Just like everything else, the ideas hold more power based on who they are coming from. Eric is a stellar individual with a trail of success behind him - and I'm not taking anything away from him with this comment, but if I were to go to a set of worthy investors and corporations pitching this idea - I'd be laughed out of the room as naive.

eries 6y ago
I don't know if this is as true as you think. First of all, I've been laughed out of a lot of rooms for pitching this idea. Hundreds, by now. Further, although many VC's are indeed herd animals as you seem to suggest, there are a few bold ones who genuinely hunt for new and radical ideas and would be willing to back a first-time founder - if you're willing to do the work.
- kkotak 6y ago
  Thanks for the response Eric. My point is about the audacity of the idea. Specifically, to open a new financial market place of the magnitude it would take to be viable, one would need - 1. significant experience in the space to understand the nuances, what's working, what's broken, etc. 2. Sizable investments and talent for operations (scale, uptime, compliance, etc.), 3. A well thought through G2M strategy (including derivatives, indices, options, day trading, HFT, etc.), 4. A broker network, 5. A true, unambiguous differentiator that is viable, measurable, enforceable, and timely.
  - eries 6y ago
    I'm not sure I had any of those 5 things when I began this journey, tbh
  - deleted 6y ago
    [deleted]

eries 6y ago

I see this criticism a lot in the various threads, but I don't really understand it. As a stock exchange, we are strictly regulated. We aren't allowed to make vague claims that are not backed up by regulatory filings, all of which are publicly available both on our website and at the SEC. For example (from least to most detailed): https://longtermstockexchange.com/listings https://longtermstockexchange.com/listings https://www.sec.gov/rules/sro/ltse.htm https://www.sec.gov/rules/sro/ltse.htm https://longtermstockexchange.com/static/principals_for_lt_success_white_paper-52e153e1e0be49bd178f74475f274ef0.pdf https://longtermstockexchange.com/static/principals_for_lt_s... https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf https://www.sec.gov/rules/other/2018/long-term-stock-exchange/long-term-stock-exchange-1.htm https://www.sec.gov/rules/other/2018/long-term-stock-exchang...