I’m sure many people would like the idea of investing in it. ARM Holdings was public and listed before. Then SoftBank bought it and delisted the company from the stock exchanges.
> Firm Will Pay a Total of $38 Million in Penalties to Settle With Regulators
$38 million!?!? That's a expensive mistake for not submitting some paperwork that should be automated.
I'd like to see a list of international government agencies and what they can/do charge for penalty fines. I suspect that the United States SEC sets a high bar compared to some of the smaller fines I've seen elsewhere. GDPR appears to be one of the top contenders
Yeah. I feel like putting a rule that if an account trade volume exeeeds 1% of average daily volume for a stock then submit the report wouldn't be too hard. Could be done offline during trade settlement. I'm wondering if there's more rigid requirements about when to submit them.
the US Patriot act / FINRA was created as a job creation measure. It is essentially an indirect tax on banks to increase jobs after the stock market crash of 2001 ("compliance").
That is pretty cynical view of it and it has certainly been a side effect ( along with creation of 'list' cottage industry ), but I would argue that it was not its purpose.
Congrats Eric! I've been excited about this since your original announcement.
I'm hoping that you'll offer an index fund to make it for passive investors (and dollar cost averaging) to put more money in this exchange, with less effort, and push the wall street incentives toward longer term.
Exchanges don't hold your shares, so once you have them in a custodian account you can do whatever you want with them, regardless of what exchange you acquired them from.
To expand on this idea, it would be cool if you could define a finite task you need (such as a user story) and exchange that for some other finite task that someone else needs. They work on your user story (in a skill they have) and you work on theirs (in a skill you have). Like bartering.
Right now, I see "Wanted: UX designer" but that doesn't tell me if they just need a menu bar, or an entire front-end for a mail client
Couldn't agree more. I don't have the time right now to commit to another project, but I always love picking off a quick task if it's helpful.
As proof, GitPals posted[0] their own project on GitPals. The sole comment mentions that they're looking for help auditing their JWT implementation. This is a sufficiently small and well-scoped task, and so I did[1]! I admittedly opened GitPals with no expectation of contributing, but the ask was small enough that it seemed reasonable.
And maybe we could introduce some kind of tokens to keep track of the size of the tasks so that you don’t end up spending way too much time on a task in exchange for little work from them. And maybe we could have multiple potential partners bid on how many tokens each task should take so that you can get efficient pricing. And that would also take care of relative availability of some types of skills vs others (e.g. almost anyone can do basic copy editing but relatively few people can create a novel compiler optimization). And maybe we could also allow you to cash out your tokens at some point. In fact why don’t we make one token equal $1 to make pricing simple. And to monetize this whole project it would be good to add the ability to promote your particular listings, like an ad platform. In other words it becomes Craigslist but cool, right? :)
My point in writing all that is that soon as you take an idea like this and say “and if we only add feature X we could have a bartering economy” my mind immediately goes to the fact that a bartering economy has a ton of drawbacks which is why we no longer use them anywhere. I see people romanticizing it as if it’s much better than our current system, but accounting with it is much harder, pricing is nearly impossible, and there are few penalties for non-payment since a transaction might take a really long time to get settled (at least as long as it takes to complete the longest task). Basically these kinds of projects seem to work only so long as they stay at a manageable size while also keeping an enthusiastic community involved. If you grow, you need economy which leads to all the stuff I outlined above.
