Lean Startup author and CEO of the Long-Term Stock Exchange Eric Ries shares why he spent a decade building a competitor to NYSE and Nasdaq.
People laughed at Eric Ries, startup guru and author of the Lean Startup, when he first pitched the idea of a long-term stock exchange.
On May 10, the Securities and Exchange Commission approved the LTSE's application. Now it can finally get to work.Eric Ries knows a thing or two about thinking long-term. The best companies that had ever lived all had long-term, purpose-driven visions, he reasoned, and a highly-regulated entity like a stock exchange would keep companies and their executives accountable.
So when nobody else volunteered to start the Long-Term Stock Exchange, Ries decided to launch it himself.On May 10, nine years after the Long-Term Stock Exchange was dreamed up, and three years after it first engaged with regulators, the Securities and Exchange Commission"There's nothing in this world quite like speaking an idea out loud for the first time, and then some number of years later — in this case nine years later — seeing it become a reality," Ries said.
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