kMikeyM: Human Publicly Traded Commodity
Mike Merrill faced an important decision that we all have faced: Should I buy Fallout 4?
Instead of going with his gut or flipping a coin, he consulted his almost 60 shareholders on whether it was a good idea or not.
The verdict: no. Mike Merrill—at the advice of his shareholders—did not buy Fallout 4.
Individual shareholders thoroughly discussed the pros and cons before taking a vote. Some said it would be a good chance for Mike to decompress while others thought it was a waste of time. A few even felt it just wasn’t a game worth playing.
Initial Public Offering
In what he describes as a public decision-making matrix, Mike put 929 shares of himself up for sale, and since its start in 2008, over 600 people have held shares of his life choices.
While anyone can buy in (current trading prices are around $5), the more shares someone has, the more weight their votes carry in decision making.
In the eight years kMikeyM has been “in business” share prices have quintupled! The share high has hit $25, with the low bottoming out at 40-cents.
Of course, KmikeyM isn’t regulated in any way, and investors are really buying trust, but so far Mike has respected the board’s decisions.
- Vasectomy: Rejected
- Register Republican: Approved
- Grow a beard: Rejected
- Buy iPhone 6: Approved
- Grow a moustache: Rejected
- Vacation to Hawaii: Rejected
- Vegetarian Diet: Approved
Shareholders even approved a proposal by Mike to enter a 735-day relationship contract with his current girlfriend.
The idea behind this project is to prove an altruism in market economies—that by putting a value and profit opportunity on a group’s responsibility to make decisions, they will in effect make better decisions.
Mike says he isn’t concerned with profits, but instead says it’s about a group of people working toward a common goal.
“Business is a social science of managing people to organize and maintain collective productivity.” –Mike Merrill