E19: From Lean Startup to Long-Term Thinking: Eric Ries Reinvents the Stock Exchange
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In this episode of Turpentine Finance, Sasha sits down with Eric Ries, author of "The Lean Startup" and founder of the Long-Term Stock Exchange (LTSE). Ries shares the challenging journey of creating a new national securities exchange designed to promote long-term thinking in public companies. He discusses the obstacles faced in gaining SEC approval, the misconceptions about corporate governance, and why many companies struggle with balancing short-term pressures and long-term vision. Ries offers valuable insights for CEOs and CFOs considering going public or dual-listing, emphasizing the importance of aligning investors with a company's long-term mission. This conversation explores how rethinking capital allocation and corporate structure can lead to more sustainable, successful businesses.

LINKS:

The LTSE: https://ltse.com/)

The Lean Startup: https://theleanstartup.com/)

Listen here at: https://www.ericriesshow.com/)

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X/SOCIAL:

@sashaorloff

@ericries (Eric)

TIMESTAMPS:

(00:00:00) - Introduction and opening quote from Eric Ries

(00:02:18) - Explanation of what the Long-Term Stock Exchange (LTSE) is

(00:07:11) - Eric's background and journey to founding LTSE

(00:14:29) - The challenge of convincing investors to fund LTSE

(00:16:03) - Sponsors: Netsuite | Rippling Spend

(00:21:47) - Eric's experience navigating the SEC approval process

(00:29:38) - Sponsor: Omneky

(00:31:30) - Discussion on how companies are notified of SEC approval

(00:42:36) - Challenges and questions companies ask behind the scenes

(00:50:36) - Brief mention of companies listed on LTSE

(00:58:36) - The importance of allocating shares to long-term investors

(01:01:21) - What's next for LTSE and Eric Ries

(01:02:49) - Closing remarks and outro