Comment Re:No longer just SpaceX (Score 2) 82
If they think it's worth it, on the balance, yeah. I'm not telling people where to put their money; or how to weigh the risk of Musk skimming the till on the actually-profitable rocketry in order to cover losses building mechahitler or trying to make orbital datacenters work.
I was mostly responding to the "I ask because I'd imagine the first thing the collective shareholders will ask for is that the crappy bits of Musk Inc. get divested as quickly as possible." part of the above poster's post. This is 100% an IPO where, to the degree legally possible and potentially beyond, and more so than even typical tech IPO voting structures, anyone who thinks that they are getting even a whisper of oversight, even at institutional investor scale, is kidding themselves.
It's up to you whether or not you think that a security representing whatever basket of endeavors Musk feels like conducting will be worth it; or if the risk that he'll bleed the winners to prop up his more dubious bets is too high; my note is purely that this IPO is genuinely rather novel in the degree to which it's designed to put the current CEO in effectively total control. Even compared to something like the mostly-unremovable Zuckerberg voting/nonvoting shares arrangement this has additional curbs on shareholder resolutions and litigation options.
I was mostly responding to the "I ask because I'd imagine the first thing the collective shareholders will ask for is that the crappy bits of Musk Inc. get divested as quickly as possible." part of the above poster's post. This is 100% an IPO where, to the degree legally possible and potentially beyond, and more so than even typical tech IPO voting structures, anyone who thinks that they are getting even a whisper of oversight, even at institutional investor scale, is kidding themselves.
It's up to you whether or not you think that a security representing whatever basket of endeavors Musk feels like conducting will be worth it; or if the risk that he'll bleed the winners to prop up his more dubious bets is too high; my note is purely that this IPO is genuinely rather novel in the degree to which it's designed to put the current CEO in effectively total control. Even compared to something like the mostly-unremovable Zuckerberg voting/nonvoting shares arrangement this has additional curbs on shareholder resolutions and litigation options.