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Ask HN: Would you use an app that lets you sell/delegate your shareholder votes?
Most people who own stocks never bother voting in shareholder elections — it’s confusing and feels pointless. But those votes still matter to activists and funds trying to influence companies.
I’m exploring an app that would let retail investors trade or delegate their voting rights (the “proxy votes”) while keeping their shares.
Basically, if you don’t care how your shares vote, someone else who does could pay you for the right to use them.
Obvious issues: regulation, low dollar value per vote, and general apathy.
But I’m curious — would you ever use something like this? Or is this a tarpit idea? Thanks!
- toomuchtodo 11mo agoDo you have a legal opinion that this is legal under US securities law?
- vinny380 11mo agoNot fully sure yet. This is just an idea I’m exploring and validating with the community. I know proxy trading is legal (but sits in a tricky legal area (vote buying rules, SEC regulations, proxy solicitation rules)). I’m more curious here about demand and whether people would actually want to do it.
- helicone 11mo agoi would use this but only to lease
- vinny380 11mo agoAs in lease your vote away or lease/buy other people's voting rights? Thanks for the reply!