Putting the "I" in "IPO"

Cathal Morrow, who’s in the midst of a year without unhappiness following his year without lying, has a new project: “Me Me Me Plc, a company he plans to float on the London Stock Exchange by selling shares in himself. It’s ?10 a share, which gets you a photograph of Cathal in lieu of a share certificate.” In Cathal’s own words: “[R]ather than a company, what I’m going to be floating is me, and the story of me becoming the world’s first truly public person. This means if (and when, I hope), someone buys the movie, book and T-shirt rights, you’ll own a part of that (the Intellectual Property, no less).” There are probably at least a couple investments on the London Stock Exchange that are a worse bet. [%comments]


Bobby G

Are there annual shareholders meetings where shareholders can vote on policies of the company (in this case person) that they hold stake in? What happens if another company initiates a hostile takeover... does Cathal have to work for them indefinitely without pay?

Cathal Morrow

The idea is to get all shareholders to vote on all major decisions, as I want to run it as a truly democratic company. I'll create a social network site for the shareholders.

Cathal Morrow

Doc

Cathal,
This has the potential for endless juvenile mirth in financial circles. Until you've spent a week or so on a bond trading floor you might want to go cautiously. Consider the fact that you might have to adopt a poison pill strategy. Equally uncomfortable, should your fortunes decline, you might be required to do a reverse split to retain your listing (Ouch). Of course, youur investors will tend to think of you as common.this could go on, but for your stake I'll stop.

Patrick

Do you pay divideds out of what would usually become your savings (I.e. Income less cost of living)? Usually shares become valuable due to a perceived future revenue stream.

Also you could appoint a board. It could be one of the benefits of being one of the major shareholders.

Then, if you had a board of major shareholders, earning a dividend and trying to maximize that dividend you would end up spending your time making as much money as possible and avoiding all costs. I'll hazard a guess at prostitution as the end outcome. You'll be forced to start behaving as a psychopath, much like any other company, with a purely machiovelian (sp?) outlook.

Sounds like fun, where can I get some shares?

Tim S.

I had this idea a few days ago. I remarked to someone that it would be interesting/cool to have a company in myself and allow other people to direct my major life choices. Seeing how this plays out will be interesting.

gevin shaw

A year-long performance on the theme of personal incorporation:

http://www.mydeathandtaxes.com/index.htm

Cathal Morrow

Many thanks for all your comments - most importantly Patrick, to buy share go to http://mememeplc.com/buy-a-bit-of-me/

Appointing a board is my next priority - I'm looking for good Non-Execs, please feel free to recommend some, particularly if you know them personally. We won't pay them, but they'll have a lot of fun.

Doc - I've always been Common Stock, and I'm proud of it!

Keep 'em coming please. I'll steal all the best ideas and pretend they're my own!

teddydouglas

This sort of idea was tried in the past. The last time they called it slavery. If you sold shares in this enterprise, as you're well aware, it would be called stock fraud.
Also, will you try to claim your living space as a business expense? What happens if you quit? Or get fired?

Cathal Morrow

Teddy,

I agree it is a form of slavery, the same kind that was described in Death of a Salesman. My worth equates to the worth of the IP of the story of Me Me Me Plc.

I'm not actually selling stock, I'm selling a signed photo of me wearing a T-shirt with the slogan "it's all about Me Me Me Plc". The stock comes free.

I'm going to get investors to vote on my salary, expenses and so forth. It's the IP of the story that's important - so if my shareholders decide to fire me to add to the story, then so be it!

skeetrp

Can't a news agency send its reporters to document your story instead of buying it from the company?

Dan Newton

How is this different than investing in some musicians? For example, David Bowie's "Bowie Bonds".

http://en.wikipedia.org/wiki/Bowie_Bonds

Cathal Morrow

Dan,

I think the difference is that Bowie already has value, which investors are buying - my only value comes from attempting to float on the Stock Exchange. The act of floating creates value where there was none.