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You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market P
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From shareholder primacy to stakeholder capitalism
fileDeep Roots, Hard Looks, and Change — Permanent Equity: Investing in Companies that Care What Happens Next
Emily Holdmanpermanentequity.comWe propose that the trustees of institutional investors be required to consider certain economic, social, and environmental effects of their decisions on the interests of their beneficiaries with respect to stewardship of companies within their portfolios. This clarified understanding of fiduciary duty will ensure that institutional investors use t... See more
Holly Ensign-Barstow • From shareholder primacy to stakeholder capitalism
A capital allocator would need to have two things happening simultaneously.
- Limited fund size: The fund would need to be $150M or less, or otherwise, you’ll be back to being wholly subject to the power law.
- Equity optionality: Investors in a startup utilizing this product need to be able to get returns even if the outcome is smaller. That would req
Evan Armstrong • Venture Capital Is Ripe for Disruption
For centuries, private attorneys have molded and adapted these legal modules to a changing roster of assets and have thereby enhanced their clients’ wealth. And states have supported the coding of capital by offering their coercive law powers to enforce the legal rights that have been bestowed on capital.
Katharina Pistor • The Code of Capital: How the Law Creates Wealth and Inequality
The most important ones are contract law, property rights, collateral law, trust, corporate, and bankruptcy law. These are the modules from which capital is coded. They bestow important attributes on assets and thereby privilege its holder: Priority, which ranks competing claims to the same assets; durability, which extends priority claims in time;
... See moreKatharina Pistor • The Code of Capital: How the Law Creates Wealth and Inequality
"The alternative to permission-based regulation is centuries old and well tested — the common law of tort. Under tort law, instead of asking for permission to introduce a potentially dangerous product, a firm must pay for the damages its dangerous product creates if it is found liable in court. Brilliantly, the tort system operates retrospectively ... See more