#76.
In 1995, X, founder of Y, had some extra cash and wanted to invest in the IPO of a gaming company. The opening price was set at $15 per share, and X called his broker to place the order. Later, his broker informed him that he purchased the stock for $24 a share, explaining that $15 was the "ideal" price, not the price the "regular people" could get. "The takeaway was that the theory of efficient markets is really great—in theory. In practice, regular people are locked out," X told Inc. magazine in 2013. X decided that the Internet could be the equalizer, bringing the power of financial markets to the public: "Of course, regular people aren’t selling stocks in their households; they’re selling stuff," he said in the interview. "I thought, ‘There’s a real opportunity to create a marketplace that could bring the power of efficient markets to regular people.’" He launched Y that Labor Day. ID X and Y.
In 1995, X, founder of Y, had some extra cash and wanted to invest in the IPO of a gaming company. The opening price was set at $15 per share, and X called his broker to place the order. Later, his broker informed him that he purchased the stock for $24 a share, explaining that $15 was the "ideal" price, not the price the "regular people" could get. "The takeaway was that the theory of efficient markets is really great—in theory. In practice, regular people are locked out," X told Inc. magazine in 2013. X decided that the Internet could be the equalizer, bringing the power of financial markets to the public: "Of course, regular people aren’t selling stocks in their households; they’re selling stuff," he said in the interview. "I thought, ‘There’s a real opportunity to create a marketplace that could bring the power of efficient markets to regular people.’" He launched Y that Labor Day. ID X and Y.
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