The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses · chapter 12 · id the-lean-startup-c12-04-ries-founded-the-long-term-sto
“Ries founded the Long-Term Stock Exchange (LTSE) to encourage companies to focus on long-term value creation over short-term quarterly earnings, embodying lean startup principles at the institutional level.”
TRUE, BUTconfidence: high⚠ extracted by pipeline, re-audit pending
Receipts
SEC EDGAR -- LTSE filingspaywalled · manual check queued
LTSE received SEC approval as a national securities exchange in 2019 but attracted zero exclusive listings as of 2025.
WSJ -- LTSE Launch (2020)paywalled · manual check queued
LTSE launched in September 2020 but struggled to attract listings. Companies saw no practical advantage over NYSE or NASDAQ for long-term governance.
LTSE official websitesource alive
LTSE pivoted to selling SaaS governance software (LTSE Equity) rather than operating as a securities exchange, effectively abandoning the exchange model.
This claim is a stable, citable object. If you can falsify a verdict, tell us. Corrections are loud here.