being a public company forces a lot of trust and transparency bc otherwise shareholders will sue you into oblivion

stickfigure 3 hours ago | parent | next [-]

From Matt Levine's description, SpaceX has a governance model that explicitly makes it resistant to shareholder lawsuits. It's not a Delaware corporation.

It might or might not work long-term, but I wouldn't count on courts to help.

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amarka 4 hours ago | parent | prev | next [-]

True story, for example take Tesla's promise of self driving which was delivered back in 2015.

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krakrum 3 hours ago | parent [-]

There's 90 unsupervised self driving tesla's in Austin today. They are delivering late but its false to say they are not delivering

	▲	mullingitover an hour ago \| parent \| next [-]
		They defrauded everyone who bought a Tesla on the promise that the Tesla they bought would be fully self-driving sometime in the near future. Taxis are a different and wholly irrelevant product that doesn’t absolve the fraud that they committed.
	▲	LastTrain 2 hours ago \| parent \| prev \| next [-]
		But that isn’t what they promised.
	▲	ipython an hour ago \| parent \| prev \| next [-]
		“Late” is doing a LOT of heavy lifting here. We are talking about 11 years!
	▲	senordevnyc 2 hours ago \| parent \| prev [-]
		There’s some number of supposedly unsupervised Teslas actually operating in Austin, but what I’ve seen suggests it’s more like a dozen. And extreme skepticism is warranted that they’re actually fully unsupervised, given Tesla’s repeated lies about this. They’re likely remotely monitored and operated.

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kendalf89 an hour ago | parent | prev | next [-]

Corporations are legally required to maximize shareholder's value. If reaching that goal requires them to pretend to be transparent, or fudge the numbers that they show to the public, then that's what you can expect them to do.

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stackghost 3 hours ago | parent | prev [-]

SpaceX is run by an absolute ghoul who managed to get away with securities fraud ("funding secured"), what makes you think there's any accountability left in public markets?