The Lean Startup and the Long-Term Stock Exchange (with Eric Ries)

精益创业和长期证券交易所(与埃里克·里斯)

Acquired

商务

2019-12-30

1 小时 23 分钟
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Season 5, Episode 10: The Lean Startup and the Long-Term Stock Exchange (with Eric Ries)  Acquired closes out Season 5 and 2019 with a radical look into both the past and future decades of startup company building, investing and - yes, exiting - in conversation with legendary Lean Startup author Eric Ries. Nine years on from pioneering the now-canonical concepts of product-market fit, minimum viable products, and pivots during the aftermath of the financial crisis, Eric’s new venture at the Long-Term Stock Exchange represents an equally ambitious attempt to rewrite the orthodoxy of how companies and their investors manage liquidity, governance and alignment around longterm value creation. Like Lean Startup a decade before it, can LTSE help address some of the endemic problems in this generation’s startup ecosystem — excessive capital raising, stay-private-longer, dual-class founder hegemony, extreme illiquidity and quarterly earnings myopia? Tune in to find out! Sponsors:ServiceNow: https://bit.ly/acqsnaiagentsHuntress: https://bit.ly/acqhuntressVanta: https://bit.ly/acquiredvanta More Acquired!: Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!
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  • Before we start, Eric, I did have to say, did you intentionally pick a building with gigantic stone pillars and a marble lobby to start your stock exchange in?

  • Obviously I was like, what building is he talking about?

  • Do we have.

  • I'm completely blind to that stuff.

  • No, I have not.

  • I did not weigh in on the decor of the place.

  • Welcome to Season 5, Episode 10 of Acquired, the podcast about great technology companies and the stories behind them.

  • I'm Ben Gilbert and I'm the co founder of Pioneer Square Labs, a startup studio and early stage venture fund in Seattle.

  • And I'm David Rosenthal and I'm a general partner at Wave Capital, an early stage venture firm focused on marketplaces based in San Francisco.

  • And we are your hosts.

  • Today we tell the story of an incredibly ambitious undertaking creating a new stock exchange, a long term stock exchange that is.

  • Earlier this year, the LTSE was approved by the SEC as only the fifth body with such a license.

  • And we have with us today none other than the founder and CEO Eric Ries to talk about it.

  • Welcome, Eric.

  • Thanks guys.

  • Thanks for having me on.

  • Yeah, yeah, yeah.

  • Listeners, you may know Eric's name from his popular 2011 book, the Lean Startup.

  • The LTSE was actually started from an idea that Eric had while writing the book.

  • And there are a couple paragraphs at the end that explore it.