Leaving aside some of your odd claims, I’m happy to answer the question. Our definitions and standards are laid out in excruciating detail in our hundreds of pages of legal filings. Here’s a good place to start if you are interested:
https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf
You don’t have any key ideas that you can express without linking to “hundreds of pages of legal filings”? His claims are not odd at all, you really haven’t put any effort into distilling the incentive design.
It’s not impossible to express complex incentive design or push readers in the right direction to understand this. What is the essence of what is quantitatively or contractually different about LTSE?
Indeed, often legal language is left as open to interpretation when new so that the manifestation of reality can polish it over time. This is a new venture; being imprecise about “long-term” now is, in my interpretation, the right move, because it should be refined over time based on how this all plays out.
The idea is good, in my opinion, and will develop over time to become more concrete, most likely.
Also this may be of some interest:
https://longtermstockexchange.com/static/principals_for_lt_s...