The Texas Stock Exchange (TXSE) is challenging long-held assumptions about what it means to go public in the U.S. Jeff Karcher joins The Pre-Read to share how the TXSE is rethinking the public company experience—reducing friction, lowering reporting and legal costs, and creating an environment where management can focus on running the business, not navigating lawsuits.
In this episode, we explore:
• How Texas’ corporate growth sparked the idea for a new national exchange
• Why the TXSE focuses on helping companies become better public companies—not louder ones
• Legislative wins in Texas that curb excessive litigation and the weaponization of governance
• Why decentralization has made the physical location of an exchange less relevant
• The roadmap for building investor confidence through ETF/ETP listings and a physical exchange launch
• Why this is about practical rules that impact a company’s bottom line, not loosening governance
Timestamps:
01:00 | Why Texas? Corporate growth and diversification
03:50 | The TXSE philosophy and vision
08:30 | Litigation, governance, and reporting costs
10:15 | Business judgment rule and D&O insurance benefits
14:30 | The exchange’s national and global ambitions
18:00 | Decentralization and the future of trading
20:15 | Building investor confidence
23:45 | Advice for private companies preparing for an IPO
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