Selling Yourself One Share at a Time
Corporate shareholders have extensive power in controlling how a company runs its business. But what happens when an individual sells “shares” in himself and lets the shareholders make his major decisions for him? That’s what Wired reports that Mike Merrill did in 2008, promising shareholders – mainly friends and family – a cut of his future professional earnings in exchange for a say his big decisions.
The consequences were varied. His girlfriend was forced to engage in an agreement with a larger shareholder to vote as a block to stop a proposed vasectomy. An outsider bought out many friends and became the second-largest shareholder of Merrill. But somehow, Merrill’s personal “stock” price had risen to $10 a share by March 2013.
Read more at: http://www.wired.com/business/2013/03/ipo-man/all/
Phineas Upham is an investor from NYC and SF. You may contact Phin on his Phineas Upham website or Facebook page.
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