Man incorporates himself – Shareholders decide his every move
Frank Doly of Los Angeles, CA has made the decision to incorporate himself and hold an IPO. He has sold stock to this new corporation, allowing shareholders to vote on his every move. He has called this new company, Frank Inc. The Glaze caught up to him and asked him about this decision.
“I had a business class that described what it takes to incorporate a business. This same class also described the United States as a company and our Social Security numbers represent our employee identification numbers. This gave me the idea to incorporate myself. So, I did the paperwork, held an IPO, and now the shareholders vote on my decisions. They choose what I eat for breakfast, how I do my hair. I even dressed as a colonial soldier for a week because the shareholders wanted me to. I started going to the gym. I have actually gotten very healthy because of all this. It’s been great.”
Frank Inc. is now worth over two million dollars. While unconventional, this idea seems to have been very successful. What do you think about this? Is the gained wealth worth letting shareholders control your every move?