Thanks for the comments and happy new year
(x) My first idea was to create a market where you couldn't resell a stock until some (long) time has passed. Pretty much the exact opposite of algorithmic trading trying to pass orders at light speed. Another was to forbid any kind of option (not stock options, options) or any other indirect way of speculating over a stock. The idea was to try to ensure the stock owners that someone wouldn't be able to crash the stock of a company he doesn't have any interest in, just for profit.
All of those considerations stemmed from the 2008 crash of course, and all the irrational behaviors that followed. But i still think there should be a way to provide a "safer" place for business owners to attract new shareholders.
Go read the Show HN of DropBox to see what I mean. Good luck!
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.
My question doesn't make that assumption. It questions the size of your target market. You are proposing to "reward" certain investor behaviors but I am suggesting that the numbers indicate that the vast majority place NO value on the reward you are offering.
It seems clear to me that the vast majority of people who have an interest in having exposure to the equity markets do NOT value voting rights.
If more people valued voting rights, then more would hold the stock directly or would only invest through intermediaries who advertise that they behave as shareholder activists. But, comparatively speaking, not many investors do.
Is it a stock market? Will I be able to buy and sell shares on eTrade or another 3rd party platform?
Who will list shares on it?
If I had to guess, I would guess it is just like the NYSE except you can only buy and sell shares every 5 years or something.
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 companies :)
Not a bad guess, but not quite right either. Our detailed rules (all 900 pages of legalese!) will be public soon enough.
I look forward to taking a squiz.
I imagine there's a fair amount of wording intended to allow rules to be updated quickly as bugs are uncovered.
How are you insured? I imagine there will be a few lawsuits fired across the bow.
When will it be open for individual investors to make a deposit? Is there a list of companies which will be chosen for initial listing?