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E19: From Lean Startup to Long-Term Thinking: Eric Ries Reinvents the Stock Exchange
Aug 15, 2024
Eric Ries, the author of 'The Lean Startup' and founder of the Long-Term Stock Exchange, discusses his groundbreaking journey to create an exchange that fosters long-term thinking. He highlights the challenges of gaining SEC approval and the misconceptions about corporate governance. Ries emphasizes the struggle companies face between short-term pressure and long-term vision, offering insights for CEOs and CFOs on aligning investor interests with sustainable business practices. His approach redefines capital allocation and corporate structures for future growth.
01:06:14
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Quick takeaways
- Eric Ries emphasizes the importance of creating a national securities exchange that prioritizes long-term thinking over short-term financial performance for public companies.
- The Long-Term Stock Exchange (LTSE) aims to reshape corporate governance by aligning investor interests with a company's long-term mission and sustainable growth.
Deep dives
The Vision of the Long-Term Stock Exchange (LTSC)
The Long-Term Stock Exchange was established to offer a unique model that encourages long-term thinking among investors and companies. Unlike traditional exchanges primarily focused on quarterly performance, the LTSC aims to foster healthier corporate governance by holding companies to higher standards, thus prioritizing their long-term mission and goals. This includes allowing firms to showcase their commitments in a way that investors can trust, helping to shift the perception of corporate performance from short-term gains to sustainable growth. Eric Ries, as the founder, envisions this shift as a remedy against the prevalent culture of immediate returns that often undermines broader corporate health.
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