eries

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211.
by eries 3y ago
good idea
212.
by eries 3y ago
thank you!
213.
by eries 3y ago
Eric Ries here, happy to answer questions about Answer.AI or any of the related themes Jeremy talked about in the announcement post: rapid iteration, R&D, startup governance, long-term thinking, etc. Excited to see what comes out of thi
214.
Founders Weigh in on Fundraising Planning(equity.ltse.com)
3 points by eries 5y ago|0 comments
215.
by eries 5y ago
LTSE uses something called the Very Simple Market, which has some benefits over the legacy platforms. A brief summary is here: https://ltse.com/blog/introducing-the-long-term-stock-exchan...
216.
by eries 5y ago
LTSE has a different business model, so hopefully things will turn out differently
217.
by eries 5y ago
not that I'm aware of, unfortunately
218.
by eries 5y ago
We don't have such a guide yet, but it's a good idea. At the moment, all of our stocks are available through every legacy brokerage. Some brokers allow you to specify when you do a trade which venue the trade gets routed to, and y
219.
by eries 5y ago
thanks!
220.
by eries 5y ago
The short answer is "yes" but there's a lot of nuance to it. Reg NMS does not require routing of anything - a very common misunderstanding. Reg NMS does not get you the "best price", it prevents the execution of tra
221.
by eries 5y ago
That is only one of two fundamental purposes of exchanges, historically speaking. Listing standards are at least equally as important
222.
by eries 5y ago
I happen to like that idea but as far as I know no company has tried it (yet)
223.
by eries 5y ago
I don't have the citation handy, but I'll keep an eye out next time I go through my archives and see if I can dig up a link. It's a fascinating branch of research, imho
224.
by eries 5y ago
At the present moment, this is illegal in the US. Some day things may change, but that's where things stand right now
225.
by eries 5y ago
I actually agree with you. Exchanges are regulatory bodies (so-called SROs) in our capital markets system. We think there should be a new one with different incentives to do a good job for companies
226.
by eries 5y ago
We looked into this extensively before deciding to pursue an exchange, but found it just isn't workable. Investors simply don't believe a "certification" is especially binding, as companies can easily undo the certificat
227.
by eries 5y ago
Our reforms are fundamentally market-based. We work with companies to develop policies that commit them to the values that they think ensure their ability to pursue their mission long-term. It's not one-size-fits-all and ultimately inv
228.
by eries 5y ago
Yes, of course. It’s turtles all the way down - that’s how the incumbent exchanges do it too :)
229.
by eries 5y ago
Not that I’m aware of!
230.
by eries 5y ago
We have a governance platform for private companies, used by a lot of YC and other startups
231.
by eries 5y ago
Yes, I think that’s something companies may consider eventually.
232.
by eries 5y ago
XKCD as usual quite prescient about the problems of standardization. I think pretty much everyone agrees with your solution -- so long as their platform is the one that everyone standardizes on! The sad reality is that because of these issu
233.
by eries 5y ago
It's not quite a simple as the word "lobbying" implies. But we are in active conversations with a lot of the other stakeholders on both the buy side and sell side to see if we can find ways to bring some flavor of this to the
234.
by eries 5y ago
As of today, investing in LTSE listed stocks is 100% backwards compatible with every existing stock trading platform and broker. You literally will not notice any difference.
235.
by eries 5y ago
We intentionally do not offer exclusive listings at this time
236.
by eries 5y ago
I get that you're just being snarky here, but I've often wondered about comments like this. When did being virtuous become an insult? I actually think the ancient view of virtue is due for a bit of a comeback. Increasingly, invest
237.
by eries 5y ago
Thanks for linking to the previous AMA from when our rules were originally approved. There's actually also one from last year when we began trading stocks, but I don't quite know how to look up the URL right now - while also typin
238.
by eries 5y ago
The requirements are embodied in the listing standards of the exchange, and have enforcement mechanisms equivalent to other listing standards. The SEC takes this stuff quite seriously - as they should - so instances of companies violating l
239.
by eries 5y ago
LTSE work through what are called "principles-based listing standards" which require every listed company to adopt (and publish) a concrete policy that shows how they are committing to each specific principle. LTSE has a regulator
240.
by eries 5y ago
Nope, that's a very good idea. I personally don't think long-term investors should have to pay the same price to buy stock as speculators. But in finance this is still considered a very radical notion, so I think it will be some t

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