Business Insider – ‘Lean Startup’ guru Eric Ries just launched a new stock exchange that values companies based on principles like employee wellbeing, diversity, and inclusion. Take a look at how it works.Estimated Reading Time: just 1 min

As reported on Business Insider:

Eric Ries, entrepreneur and author of ‘The Lean Startup,’ first wrote about the LTSE nine years ago.
Photo by Kimberly White/Getty Images for TechCrunch

Entrepreneur Eric Ries launched a new stock exchange Wednesday aimed at promoting a longer-term approach to company growth rather than the current quarterly cycle by which most companies report. 
It’s aptly called the Long-Term Stock Exchange, is based in San Francisco, and is designed to help business leaders escape from being “hostage” to quarterly profits, Ries writes.  
The idea was first proposed nine years ago in Ries’ book “The Lean Startup.” 
“Modern companies measure progress over decades, not financial quarters,” Reis writes on the LTSE’s website. “Investors who invest long term want to know not just how companies plan to produce value in the next quarter but for years to come.” 
JP Morgan Chase CEO Jamie Dimon, mogul Warren Buffett, and BlackRock’s Larry Fink have recently spoken out in support of a longer-term approach to investing. 
It’s part of a growing movement away from shareholder primacy, the belief that a company’s purpose is to serve mainly its shareholders, and toward a more holistic approach called stakeholder capitalism, where all stakeholders, including employees and the environment, are taken into consideration. 
Companies that list on the exchange have to adhere to five principles, which include prioritizing diversity and inclusion as well as employees’ wellbeing. 
Asana and Airbnb have explored the prospect of listing on LTSE, The New York Times reported. 
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Source: Business Insider
Author: insider@insider.com (Marguerite Ward)
Date: 2020 09 09

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