Outside the Box: The proposed Long-Term Stock Exchange gets two things badly wrong

The architects of the proposed Long-Term Stock Exchange (LTSE) argue that the U.S. is sorely in need of an exchange that rewards businesses and investors focused on the long term. It is ironic, though, that the LTSE’s biggest backers hail from Silicon Valley, where tech startups have long benefitted from the market’s orientation toward long-term growth by raising investments based on long-term potential despite losing money year after year.

Interest in a long-term-oriented stock exchange has been rising for a number of years, especially in Silicon Valley, where tech companies often complain of Wall Street’s dominance over the process for listing shares.

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