Tweet
...Corporations
By Kevin Roose
What do Twitter, Berkshire Hathaway, and your best friend Dave have in common? Pretty soon, you might be able to buy stock in all three.
We've heard a lot about corporate personhood – the idea that, as one former Massachusetts governor put it, "Corporations are people." But there's a new hot concept in the land of personal finance: personal corporatehood, the notion that people can act like corporations. Increasingly, amid record-high stock markets that have rewarded anything with a ticker symbol, normal people are finding new ways to sell stock, lash themselves to investors, and throw themselves at the market's mercy.
The latest such deal was the IPO of Arian Foster, the NFL running back who partnered with a sports-marketing agency called Fantex to offer himself up on the public markets. Under the terms of the deal, Foster would earn $10 million by selling 20 percent of his future earnings to investors in the form of a personalized "tracking stock." (The IPO fell through after Foster sustained a season-ending injury.)
http://nymag.com/daily/intelligencer...ou-and-me.html
By Kevin Roose
What do Twitter, Berkshire Hathaway, and your best friend Dave have in common? Pretty soon, you might be able to buy stock in all three.
We've heard a lot about corporate personhood – the idea that, as one former Massachusetts governor put it, "Corporations are people." But there's a new hot concept in the land of personal finance: personal corporatehood, the notion that people can act like corporations. Increasingly, amid record-high stock markets that have rewarded anything with a ticker symbol, normal people are finding new ways to sell stock, lash themselves to investors, and throw themselves at the market's mercy.
The latest such deal was the IPO of Arian Foster, the NFL running back who partnered with a sports-marketing agency called Fantex to offer himself up on the public markets. Under the terms of the deal, Foster would earn $10 million by selling 20 percent of his future earnings to investors in the form of a personalized "tracking stock." (The IPO fell through after Foster sustained a season-ending injury.)
http://nymag.com/daily/intelligencer...ou-and-me.html
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