Long-Term Stock Exchange

A sanctuary for companies committed to enduring success.

[Long-Term Stock Exchange @ltse]

Founder of the Long-Term Stock Exchange Eric Ries joined CNBC's Squawk Box to discuss building companies that last in the age of AI, LTSE’s petition to modernize quarterly reporting requirements, and his newly released book, “Incorruptible.”

Watch the full segment: https://t.co/hGMq2TCMpn

[Squawk Box @SquawkCNBC]

Author @ericries discusses building companies in the age of AI: https://t.co/2Rs11LMKFQ

[Long-Term Stock Exchange @ltse]

"Incorruptible" debuted on the @nytimes and @USATODAY Best Sellers lists this week.

Congratulations to author and Long-Term Stock Exchange Founder @ericries. 🎉

[Y Combinator @ycombinator]

Eric Ries (@ericries) is the author of The Lean Startup, the NYT bestseller that became a playbook for a generation of founders. He's also the founder of the Long-Term Stock Exchange and has a new book out called Incorruptible: Why Good Companies Go Bad and How Great Companies Stay Great.

In this episode of Main Function, Eric sat down with YC's @garrytan to talk about why so many founders lose control of the companies they build, and what they can do to stop it.

00:47 — The Professor's Wake-Up Call
03:43 — A Wake, Not a Party
05:12 — Shareholder Primacy Explained
08:20 — The Jeff Lawson / Twilio Story
10:27 — When You Fire the Founder
12:01 — The Legend of Sol Price
15:38 — Costco's Secret Origin
18:33 — Mission-Controlled Companies
19:40 — Finding the Right Board
22:26 — Just Become a PBC
23:40 — Who Invented Shareholder Primacy?
27:08 — It's Not Even a Law
30:28 — The Builder's Intuition
34:47 — Novo Nordisk & the $600B Bet
39:47 — Industrial Foundations Outperform
42:08 — The Problem With VC Fund Structure
43:05 — Dual Class Isn't Enough
44:54 — Building Something That Outlives You
45:03 — Anthropic's Governance Story

[Long-Term Stock Exchange @ltse]

In a New York Times DealBook interview, Long-Term Stock Exchange Founder Eric Ries discusses how corporate governance, market structure, and reporting incentives can either strengthen or erode long-term value creation.

“We have really good evidence from other countries that when companies switch from semiannual to quarterly reporting, they lose approximately 5 percent of their market cap,” Eric said.

“Companies are being run to produce the correct quarterly report instead of for the long-term benefit of anybody, including their shareholders.”

Last year, LTSE petitioned the SEC to modernize reporting requirements by allowing companies to report earnings semiannually rather than quarterly. The SEC formally proposed the change earlier this month.

Read the full interview: https://t.co/k7gbVPvUlC

[Long-Term Stock Exchange @ltse]

In a @FortuneMagazine excerpt from his new book, "Incorruptible," Founder of the Long-Term Stock Exchange Eric Ries argues that many founders build extraordinary companies only to watch them drift under the pressure of short-term incentives and market expectations.

The excerpt explains that Eric founded the Long-Term Stock Exchange in response, to serve as a sanctuary that supports long-term value creation rather than short-term pressure.

Read the full excerpt: https://t.co/o5UcWJIOJr

[Long-Term Stock Exchange @ltse]

PRESS RELEASE: The U.S. Securities and Exchange Commission (SEC) announced today a proposal to allow public companies the option to report semiannually instead of quarterly, following a petition submitted by the Long-Term Stock Exchange. https://t.co/Y3wYurx9Eg

[Long-Term Stock Exchange @ltse]

In a world where long-term company visions often succumb to short-term market pressures, the Long-Term Stock Exchange is quantifiably rewriting the narrative. https://t.co/aHDqqXSUSi

[Long-Term Stock Exchange @ltse]

The full text of LTSE’s petition can be found at: https://t.co/UkKD4By66V.

[Long-Term Stock Exchange @ltse]

The Long-Term Stock Exchange has formally filed a petition with the SEC seeking to allow all public companies the option to report earnings semi-annually instead of quarterly. The full text of LTSE’s petition can be found at: https://t.co/VLsOp0T03F

[Long-Term Stock Exchange @ltse]

LTSE CEO Bill Harts on CNBC: We're asking the SEC to change the rules, to allow companies to optionally report biannually.

[Long-Term Stock Exchange @ltse]

“Among independent exchanges, the Long-Term Stock Exchange (LTSE) has the narrowest volume-weighted-average (VWA) spread in 2025.” https://t.co/CYG0miUafL

[Long-Term Stock Exchange @ltse]

The Wall Street Journal reports that the Long-Term Stock Exchange will petition the SEC to end quarterly reporting requirements. Full article: https://t.co/EKY2a1G2mE

[Long-Term Stock Exchange @ltse]

📰 PRESS RELEASE
The Long-Term Stock Exchange announced that it plans to petition the Securities and Exchange Commission to allow all public companies to report earnings semi-annually instead of quarterly. Full Press Release: https://t.co/P76j6wmTVN

[Long-Term Stock Exchange @ltse]

@jeremyalmond @tihomirb Thank you for joining us!

[Long-Term Stock Exchange @ltse]

"We said, 'Okay, if you want to change a system, how do you change a system?'“ Michelle Greene, Interim CEO of the Long-Term Stock Exchange on the Denizen podcast hosted by @developingjen. https://t.co/MSak4Ss3lW

[Long-Term Stock Exchange @ltse]

@puzzlefin @ProductHunt Thanks for your support!

[Long-Term Stock Exchange @ltse]

LTSE founder, @ericries, wrote and signed our inaugural Letter to Our Future last week, dedicated to the important role founders play in shaping the future of our society.

https://t.co/InRW0TjLuf

#AsanaxLTSE #TwilioxLTSE

[Long-Term Stock Exchange @ltse]

"Everything we do at Asana is in service of our mission. We have an expansive long-term vision to help the world's teams work together effortlessly." @moskov explained why @asana listed on LTSE: https://t.co/ScCagKajEs

#AsanaxLTSE

[Long-Term Stock Exchange @ltse]

“We are at a crossroads. Our civilization is on a collision course with advancing threats to our way of life. Now is the time for bold action that charts a new path.”

Read the inaugural Letter to Our Future: https://t.co/lLUwrXlStQ

#AsanaxLTSE #TwilioxLTSE

[Long-Term Stock Exchange @ltse]

Now, more than ever, we need founders, leaders, builders, and believers to take on some of the greatest threats our society has ever seen. We’re calling for a new generation of founders to embrace the challenge.

Read the inaugural Letter to Our Future.

https://t.co/lLUwrXlStQ