When we moved to America in 2014, one of the things we noticed was that companies and people were very unequal. Companies seemed to be able to do a lot more than people, take significantly larger risks, have freer political speech, and, most importantly for us, have significantly easier access to capital.
One of the things that corporations can do is raise money by selling shares on the promise these shares will go up in value due to a company's future work. We think this is a powerful model of fundraising, and we think there should be a way for people to access it, too.
That's why we started Libermans Co - so that we could receive capital today in exchange for the work that we'll do over the next 30 years. In return, investors receive upside keyed to great people, not to the latest fad in high-risk investing.
We opened Libermans Co, a Delaware corporation - with 25% of the company owned by each sibling. We then contracted some of the world's best lawyers and developed an agreement called the
Founders Pledge. It guarantees the next 30 years of our entrepreneurial output to the company. We then started
Product Science, our first venture under this model, and later,
Humanism and
Human.
As per the Founder Pledge, our portion of the shares in these ventures belongs to Libermans Co.