from Hacker News

Twilio, Asana to List on Long Term Stock Exchange

by rayshan on 6/24/21, 8:53 PM with 139 comments

  • by neonate on 6/24/21, 11:44 PM

  • by endisneigh on 6/24/21, 10:32 PM

    I can’t read the full article but:

    > To list on LTSE in August, Twilio and Asana are agreeing to a slate of commitments such as aligning executive and board compensation with long-term performance; taking customers and employees into account; and explaining how the company’s board oversees its long-term strategy. These commitments must be concrete policies that can be monitored by LTSE.

    If such agreements are broken what’s the punishment, other than presumably being dislisted? If there are none it seems like an empty platitude given that you can already buy both on the “regular” stock exchange.

    Is daytrading prohibited? If not seems like it’s still bound by the same short term nonsense. I’d be impressed if you can only buy and sell on the LTSE once a year. Money being put where the mouth is and all that.

  • by eries on 6/24/21, 9:58 PM

    Founder/CEO of LTSE here. Happy to answer questions if anyone wants to know more, AMA

  • by yellow_lead on 6/25/21, 2:13 AM

    > The CEOs of both companies, which also are listed on the New York Stock Exchange, were early investors in LTSE with financial stakes of less than 1.5%.

    So the CEOs of Twilio and Asana invested in this exchange then convinced their board to list on it. I'm sure they're not just interested for personal gain though.

  • by JumpCrisscross on 6/24/21, 11:35 PM

    It’s hard to make the claim that public markets overly prioritise the short term with the last weeks’ string of EV start-ups IPOs / SPAC mergers and ExxonMobile Board manoeuvre.

    At the same time, founder supervoting is falling out of favor. This neatly backdoors to the same result—founders (and institutional investors, who can invest through a long-holding front end and then allocate exposure to that on the back end) gaining outsized influence over individual investors (who aren’t coördinated) and hedge funds. Seems like a lot of collateral damage.

  • by KaoruAoiShiho on 6/24/21, 10:19 PM

    LTSE is a sorely needed financial innovation but all the stuff around social impact is a new burden I think... Not everyone's going to be interested in that, oh well.

  • by rossmohax on 6/24/21, 11:41 PM

    Is it why Asana CEO buys 160000 shares every day, pumping up price?

  • by alberth on 6/25/21, 1:48 PM

    ELI5

    Can someone provide the simple overview of (a) how LTSE is different, (b) what the listed company pro/cons are and (c) what are the investor pro/cons

  • by Mat_Sherman on 6/24/21, 10:03 PM

    What types of companies are able to list on LTSE?

  • by antman on 6/26/21, 11:56 AM

    Never heard of a long term stack exchange. Is this a US thing against HFTs?

  • by sngz on 6/25/21, 6:11 AM

    i remember reading about asana on here years ago. wasn't it supposed to be the thing that saved us from JIRA but ended up turning into the very thing everyone hated about JIRA?

  • by jonplackett on 6/24/21, 10:54 PM

    Twilio’s great but what does everyone think of their long term prospects? Pretty much every automatically sent text message / WhatsApp is probably sent from Twillo already. What is next for them?

  • by jimsimmons on 6/24/21, 9:58 PM

    Wonder who the first exclusive listing is.