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ralph84 3 hours ago

Voting control doesn't change management's fiduciary duty to all shareholders. The founders retaining voting control has worked out fine for Alphabet shareholders.

collinmcnulty 3 hours ago | parent | next [-]

Yeah but SpaceX says you need 3% of the company to sue, so that fiduciary duty is never going to be enforced.

londons_explore an hour ago | parent [-]

Getting together a group of owners with 3% ownership by value or 3% by voting rights both seems do-able, and I'm sure would be done of there was a serious case of mismanagement.

overfeed 2 hours ago | parent | prev | next [-]

> The founders retaining voting control has worked out fine for Alphabet shareholders.

Only after the cofounders brought in veteran "adult supervision" who offered guided the company with a steady hand, while Larry and Sergei were safely in their moonshot hobby project play-pens, away from the core products - an arrangement that would greatly benefit shareholders in Musk companies.

colechristensen 3 hours ago | parent | prev [-]

It raises the bar to the courts for shareholder control.

The Google founders are, lets say, more reliable than Musk when it comes to making sound business decisions.

cryptonector 2 hours ago | parent [-]

> The Google founders are, lets say, more reliable than Musk when it comes to making sound business decisions.

I've no idea about that and I won't opine. But every time I see that sort of statement it seems likely motivated by the whole Twitter acquisition. Perhaps that was just a toy or vanity project for him, one he could afford, so even if you think he's running X terribly it might have nothing to do with how he's run or would run any other companies that are not related to social media. In other words, what I read into such statements is "I don't like the politics he's brought to Twitter!", "the board should rein in the guy whose politics I don't like!!". It's like saying Bezos is bad at business because he owns the Washington Post -another vanity project- and you don't like the Post.

Do people not get bored of that sort of take?

Tell me he makes bad business decisions all you want, but in the context of everyone-hates-his-acquisition-of-Twitter I'd like to hear about his other businesses. Tell me something useful, not something political.

And, sure, politics at some point bleeds into business. Maybe Trump is out to get Bezos over Washington Post coverage, or maybe the next Democrat President will go after Musk for his politics. It's possible that X will eventually cost him dearly and personally, and it's a solid argument for these billionaires and trillionaires to stay out of politics. Or maybe it's a good argument for them to stay in because maybe by demonstrating electoral influence and power they can make the POTUS-of-the-day fear them enough to not go after them too hard. But if you made any such argument it still wouldn't say tell me anything about the rest of these billionaires' businesses.

queenkjuul an hour ago | parent [-]

Space GPUs are stupid, so is hyperloop, so is the Vegas Loop; robotaxis don't work, cybertruck sucks, the humanoid robots don't work, the new roadster is nowhere to be seen.

SpaceX blew up an entire launchpad because Musk thought flame diverters are gay, or something.

And, yes, Twitter is now a shithole.

christoph an hour ago | parent [-]

This doesn’t even include the whole taking money from people for FSD that was JUST 2 years away…