The Winding Road To A Long-Term Stock Market
Bloomberg Businessweek Middle East|1 May, 2018

Eric Ries is trying to create a new kind of exchange. But do investors really want that?

Annie Massa, with Alex Barinka
The Winding Road To A Long-Term Stock Market

Two years ago, Silicon Valley entrepreneurial guru Eric Ries hatched a plan to bring one of his boldest ideas to life. His Long-Term Stock Exchange, which he first suggested in the epilogue to his 2011 bestseller, The Lean Startup, would address the investor shortsightedness that drives startup founders crazy. Over time he sketched out rules. Companies listing on the exchange would give more voting power to shareholders who stuck around longer. They wouldn’t be allowed to link executive pay to quarterly earnings. It turns out, however, that selling Wall Street on a more patient stock market can’t be done in a hurry.

Compared with the technology sector, where “move fast and break things” has been the motto, in the realm of exchanges the attitude is more like “move painstakingly slowly and make sure nothing breaks, ever.” LTSE has yet even to file a stock exchange application with the Securities and Exchange Commission, though it’s taken a step forward by partnering with a small stock market, IEX Group Inc. Ries has faced skepticism not only from Wall Street veterans but also from the tech world. “In Silicon Valley, people don’t think change is possible here,” says Ries. “People think it’s more likely we’ll discover time travel.”

Denne historien er fra 1 May, 2018-utgaven av Bloomberg Businessweek Middle East.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra 1 May, 2018-utgaven av Bloomberg Businessweek Middle East.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BLOOMBERG BUSINESSWEEK MIDDLE EASTSe alt
Golfing With The Enemy
Bloomberg Businessweek Middle East

Golfing With The Enemy

Did Donald Trump's executives violate the Cuban embargo?

time-read
10+ mins  |
August 16, 2016
Super-Rich Syrians Wait for War's End
Bloomberg Businessweek Middle East

Super-Rich Syrians Wait for War's End

Actor, author, playwright. Gill Pringle tries her hand at unravelling the mystery behind this enigmatic multi-hyphenate

time-read
10+ mins  |
July 01, 2016
Pam Codispoti
Bloomberg Businessweek Middle East

Pam Codispoti

The mastermind behind the industry-shaping Chase Sapphire Reserve Card sets her sights on banking

time-read
2 mins  |
January 16, 2018
This Time It's The Economy
Bloomberg Businessweek Middle East

This Time It's The Economy

President Rouhani’s budget sets offprotests from people angry about unemployment and inflation

time-read
5 mins  |
January 16, 2018
Saudi Prince Counts On Support Of Citizens
Bloomberg Businessweek Middle East

Saudi Prince Counts On Support Of Citizens

State-worker salary increases appeal to the people, but policy may throw the budget off track

time-read
3 mins  |
January 16, 2018
Stalin's Legacy Is Choking The Ukrainian Economy
Bloomberg Businessweek Middle East

Stalin's Legacy Is Choking The Ukrainian Economy

The government has resisted pressure to lift a ban on land sales, despite pressure from the IMF and investors

time-read
4 mins  |
January 16, 2018
Catastrophe Bonds Survive A Stormy Year
Bloomberg Businessweek Middle East

Catastrophe Bonds Survive A Stormy Year

The turbulence of 2017 couldn’t destroy a market for betting against disasters

time-read
3 mins  |
January 16, 2018
Riding The West Bank's Credit Boom
Bloomberg Businessweek Middle East

Riding The West Bank's Credit Boom

Increased consumer lending is creating a bubble in the West Bank

time-read
3 mins  |
January 16, 2018
You'd Be Crazy To Buy Pizza With Bitcoin
Bloomberg Businessweek Middle East

You'd Be Crazy To Buy Pizza With Bitcoin

Speculative fervour makes the cryptocurrency clumsy for commerce

time-read
3 mins  |
January 16, 2018
What If The President Loses His Party?
Bloomberg Businessweek Middle East

What If The President Loses His Party?

Trump has to figure out a way to work with Republicans in Congress, or the global economy may be at stake

time-read
6 mins  |
August 16, 2017