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Human IPO: Man Sells Himself for $10,000
Posted on 4/17/13 at 10:12 am
Posted on 4/17/13 at 10:12 am
LINK
Is this real life?
quote:
Merrill started out by selling 929 shares to twelve of his friends. He paid $500 to a web developer to create a site with an online trading and voting platform. Within five years, Mike sold over 3,700 shares of himself and his stock price hit a high of $20.
quote:
Shareholders voted down a vasectomy, decided he would wear Brooks Brothers exclusively, that he must be a vegetarian and vote Republican. He even granted voting members the rights to his romantic life, approving every date he goes on and every girlfriend.
quote:
When Merrill received a $100,000 life insurance policy through his job, shareholders voted that the money would be split amongst them when he passed away.
Is this real life?
5
Posted on 4/17/13 at 10:14 am to OnTheBrink
Another snippet from the article:
So, is $10,000 worth going on a date with another man?
quote:
Merrill has faced some personal issues due to his highly public life. His live-in girlfriend left him because she didn’t have a say in anything he did. Shareholders often vote down choices he wants to make, like working out more and eating meat. Merrill identifies as a straight male but shareholders have voted for him to go on a date with another man and with a polyamorous woman.
So, is $10,000 worth going on a date with another man?
Posted on 4/17/13 at 10:39 am to OnTheBrink
Yeah I'd conservatively put my worth at mid seven figures. Any takers?
Posted on 4/17/13 at 10:43 am to OnTheBrink
OK, this case is ridiculous, but I think I like the idea in general.
I turn 18 and need money to start my life. I sell shares that give someone else a piece of my future earnings and net worth. And I give them limited rights (unlike this guy did) that say, restrict what kind of work I do or where I can live.
Of course, I'd want a call option on every share so I have the ability to buy my life back once I'm on my feet
I turn 18 and need money to start my life. I sell shares that give someone else a piece of my future earnings and net worth. And I give them limited rights (unlike this guy did) that say, restrict what kind of work I do or where I can live.
Of course, I'd want a call option on every share so I have the ability to buy my life back once I'm on my feet
This post was edited on 4/17/13 at 10:45 am
Posted on 4/17/13 at 11:14 am to ZereauxSum
This is by far the most interesting thing I've read in a long time.
Posted on 4/17/13 at 11:21 am to Tmacelroy12
quote:
This is by far the most interesting thing I've read in a long time.
I was kind of thinking the same thing
I mean, this guys situation is all messed up, but the concept could be pretty innovative.
Posted on 4/17/13 at 1:02 pm to OnTheBrink
if the shareholders manage the "company" well (he gets an education, a good job, and starts making a decent income), will they get a percent of his income (dividends)?
if so, this may be another way to make money, find someone who you think will be successfull, buy some of their "shares," and hopefully profit in the future.
if so, this may be another way to make money, find someone who you think will be successfull, buy some of their "shares," and hopefully profit in the future.
Posted on 4/17/13 at 2:37 pm to ZereauxSum
I agree. Interesting.
Posted on 4/17/13 at 2:55 pm to LSUAfro
quote:
I agree. Interesting
and to take this further, could you invest in groups of people. Could I pick out a school that has a good record of successful students and invest in them all collectively, or conversely, could I invest against certain schools/groups of people if I think they are overvalued?
This could get ugly real quick.
Posted on 4/17/13 at 3:00 pm to white perch
quote:
if the shareholders manage the "company" well (he gets an education, a good job, and starts making a decent income), will they get a percent of his income (dividends)?
I was originally going to say sure why not, but after thinking it through I don't know. You'd have to figure out who decides how much and when (is it the shareholders or management ie: the person).
If I knew my shareholders could force me to pay dividends whenever they collectively agree I might not have any incentive to get past a certain income level.
That's a tough question.
Posted on 4/17/13 at 3:07 pm to ZereauxSum
1) This is effectively what student loans are, except the gov't has totally messed up the actuarial part of student loans.
2) Yale did this one year. No tuition; just pay us 1% (or something) of your salary after you hit age 30. Problem is, it was voluntary, and the people who opted in were the people who weren't looking to make bank anyway, so there was a self-selection problem.
Here is an old article on it; I know there have been more recent follow ups
LINK
2) Yale did this one year. No tuition; just pay us 1% (or something) of your salary after you hit age 30. Problem is, it was voluntary, and the people who opted in were the people who weren't looking to make bank anyway, so there was a self-selection problem.
Here is an old article on it; I know there have been more recent follow ups
LINK
Posted on 4/17/13 at 3:22 pm to white perch
quote:
and to take this further, could you invest in groups of people. Could I pick out a school that has a good record of successful students and invest in them all collectively,
I like the idea of investing in groups of students, let's say at Ivy League schools, and have them under contract to pay a certain percent of their taxable income to the shareholders beginning at some specified age. Somewhat like a student loan, only different.
Posted on 4/17/13 at 3:25 pm to slackster
quote:
I like the idea of investing in groups of students, let's say at Ivy League schools, and have them under contract to pay a certain percent of their taxable income to the shareholders beginning at some specified age. Somewhat like a student loan, only different.
we should start this business
Posted on 4/17/13 at 3:43 pm to white perch
quote:
if so, this may be another way to make money, find someone who you think will be successfull, buy some of their "shares," and hopefully profit in the future.
I believe these people are called managers or agents to athletes, musicians, actors, etc. They have a stake in the person they are managing and have a direction of where that "company" will go.
This post was edited on 4/17/13 at 3:44 pm
Posted on 4/17/13 at 3:43 pm to white perch
quote:
we should start this business
chapter 7...reset....thanks for the free money.
Posted on 4/17/13 at 3:51 pm to Putty
quote:
chapter 7...reset....thanks for the free money.
Lawyers. Pfffft
Posted on 4/17/13 at 3:54 pm to Cold Cous Cous
quote:
This is effectively what student loans
I don't see how. It's equity versus debt.
quote:
Yale did this one year. No tuition; just pay us 1% (or something) of your salary after you hit age 30
Ill have to read the article when I get home But I think the problem is that Yale gave all of the students the same amount of money regardless of earning potential.
Posted on 4/17/13 at 5:24 pm to Putty
quote:
chapter 7...reset....thanks for the free money.
Meh...same thing happens with unsecured debt which is far easier to get than this would be.
Posted on 4/17/13 at 7:26 pm to ZereauxSum
uh, where can i buy some shares?
Posted on 4/18/13 at 7:23 am to HailToTheChiz
I wonder what the NCAA would do if a 5 star athlete did that?
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