Ask HN: Would you use an app that lets you sell/delegate your shareholder votes?
4 comments
Do you have a legal opinion that this is legal under US securities law?
Not fully sure yet.
This is just an idea I’m exploring and validating with the community. I know proxy trading is legal (but sits in a tricky legal area (vote buying rules, SEC regulations, proxy solicitation rules)).
I’m more curious here about demand and whether people would actually want to do it.
This is just an idea I’m exploring and validating with the community. I know proxy trading is legal (but sits in a tricky legal area (vote buying rules, SEC regulations, proxy solicitation rules)).
I’m more curious here about demand and whether people would actually want to do it.
I’m exploring an app that would let retail investors trade or delegate their voting rights (the “proxy votes”) while keeping their shares.
Basically, if you don’t care how your shares vote, someone else who does could pay you for the right to use them.
Obvious issues: regulation, low dollar value per vote, and general apathy.
But I’m curious — would you ever use something like this? Or is this a tarpit idea? Thanks!