A new stock exchange backed by Silicon Valley venture capitalists just gained approval from the Securities and Exchange Commission. The Long-Term Stock Exchange is a new stock exchange designed to encourage long-term thinking and investors. It will compete with New York Stock Exchange and Nasdaq to take companies public. Read more stories on the Business Insider homepage. The New York Stock Exchange and Nasdaq may have a stronghold on initial public offerings in the US, but Silicon Valley is ready to challenge the status quo.