Question about selling shares

[LearnedfromTV]

It just a mathematical fact that's camouflaged by the descriptions.

.35/1.35 = .26.

That's where this is coming from.

One way you're distributing 65% of the action to the backer(s), and the backee keeps the other 35%.

The other way you're multiplying the price of the action by 1.35, then distributing 100/135 of that action to the backer(s), and the remaining 35/135 to the player.

So x% markup is equivalent to keeping x/(1+x) of yourself. Phrasing it in terms of markup seems like a clever way for backers to offer a deal that sounds better than it is.