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421.
by eries 9y ago
Nice
422.
by eries 9y ago
Yes and yes
423.
by eries 9y ago
Our rules follow existing SEC rules for beneficial ownership; they tend not to take a very CS-centric view of things :)
424.
by eries 9y ago
That’s a good observation. Today’s Dual class systems only protect the founders from a specific kind of short-term pressure. But there are still thousands of employees overreacting to volatility and jumping at shadows. Our rules are designe
425.
by eries 9y ago
It’s a paradox of startup life that the best way to sustain a long-Term vision is via rapid experimentation. Amazon is a great example of this, if you want to see it at scale, but there are many others. So I don’t see any irony here.
426.
by eries 9y ago
The way the LTSE is designed allows it to participate in the same level of liquidity as conventional exchanges. There’s absolutely no difference from that POV
427.
by eries 9y ago
Thanks
428.
by eries 9y ago
Indeed. We don’t list most of or employees to protect their privacy. This is a pretty controversial project.
429.
by eries 9y ago
See above - our rules do handle derivatives and options elegantly (imho), but I can’t say too much about how it works yet.
430.
by eries 9y ago
LTSE = The Long-Term Stock Exchange Yes, it is in the same regulatory category as NYSE or NASDAQ. Yes it allows you to buy shares of listed companies in all the ordinary ways, including retail brokers. The best of the next generation of com
431.
by eries 9y ago
Ha, no kidding! You should see what they say about LS. I don’t mind, part of being in public with new ideas is putting up with a lot of snark and cynicism. It’s a bug in the human reward system - skeptics are right 99% of the time.
432.
by eries 9y ago
I like this idea a lot, and hope to have more to say about it next year sometime :)
433.
by eries 9y ago
On the contrary, unlike most systems today, our rules are very favorable to both retail investors and employees. Anyone can register their shares for Long-Term voting, not just founders or big institutions.
434.
by eries 9y ago
Our rules handle derivatives correctly, including swaps. Otherwise it would be trivial to avoid the long-term vote weighting
435.
by eries 9y ago
I liked your summary. We definitely think our setup is a more defensible governance solution than the typical founder/monarch for life. Our rules also are carefully tailored to Do The Right Thing with shorts and other derivatives, but
436.
by eries 9y ago
Nice to see someone thinking past the obvious loopholes. Our rules are a little more complicated than this, but you’re on the right track.
437.
by eries 9y ago
Hey everyone, Eric Ries here. I’m the founder and CEO of the LTSE (and also the Lean Startup guy). Happy to see the discussion here and will try and answer a few questions. Unfortunately, a lot of the details of how the LTSE works are subje
438.
by eries 9y ago
Indeed I am :)
439.
by eries 9y ago
Our system actually handles this gracefully. If you change the beneficial owner, that’s the same as selling the shares (for voting purposes)
440.
by eries 9y ago
Actually you can do this, without banning those instruments. You have to find a way to make sure when someone creates one of those derivatives the system automatically forfeits the associated votes.
441.
by eries 9y ago
If you get the political coalition assembled to make this, please give me a call
442.
by eries 9y ago
LT is ready for a comeback
443.
by eries 9y ago
How bout that...
444.
by eries 9y ago
Actually our mechanism prevents this. It’s pretty clever if I do say so myself, but until we go public with the details you’ll have to take my word for it
445.
by eries 9y ago
We believe our proposal is way more investor favorable than zero-vote shares. But it’s also way more company-favorable than standard governance
446.
by eries 9y ago
And also on many IPO tombstones :)
447.
by eries 9y ago
Me too! Luckily the rest of the team is way more qualified
448.
by eries 9y ago
Hey everybody, Eric Ries here, founder of the LTSE. I am coming late to the thread as I’ve been focused on launching my new book and am only seeing this now. I love a lot of the comments here. I think many of the assumptions both in this pi
449.
Runway – Cash planning tool for startups(startuprunway.io)
130 points by eries 9y ago|42 comments
450.
by eries 9y ago
Totally agree. We hope this will be an on-ramp to more sophisticated tools and analysis for beginners.

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