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Disrupting the stock exchange

A US entrepreneur has applied for a Long-Term Stock Exchange - where investors hold on to stock, not sell it on a whim.

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Eric Ries's Long-Term Stock Exchange, which avoids the pitfalls of an IPO, already has backing from big VC names such as Marc Andreessen and Steve Case.

"IT SEEMS like a way of living in hell without dying." That was the way James Freeman, founder of Blue Bottle Coffee, described the process of taking a company public in the modern era - and the way he explained why he sold his company instead to Nestle last week.

It is no secret that the

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