[gbil]

>Akademikerpension also said the governance structure of SpaceX was "extremely deficient", adding that Elon Musk is expected to control more than 80% of the voting rights while simultaneously serving as chief executive officer, chief technology officer and chair of the board.

Their skepticism seems pretty valid to me

[SwellJoe]

The company is wildly overvalued. It'd be funny if Musk wasn't about to walk away with a bunch of money stolen from retirement accounts.

[spwa4]

I think you'll find the whole valuation of the S&P500 is built upon retirement accounts. Yours. Mine.

In other words, look one level deeper and you'll see it's not the S&P500 that's overvalued. It's you and me and 100 million other people desperately attempting to make sure young people pay for them for 20-30 years when they're old.

And then you calculate it out ... and see it's not happening. No matter what the number on the account says.

[SwellJoe]

There's the normal level of... optimism. And, then there's SpaceX, a scam on a scale the world has never seen.

[adamiscool8]

Zuck was in roughly the same position and they didn’t put out a statement skipping that IPO. The valuation criticism is more valid but this line belies political motivation.

[gbil]

More than 10times higher (possible valuation), 10+ years of Musk showing what kind of liability he is and at that time Zuck didn't have all the main CxO positions.

I don't think it is similar therefore.

[spacebanana7]

Google too, and this was in the long term best interests of shareholders.

Imagine in 2010 if investors had real transparency into how much money YouTube or Maps was losing, along with the governance structures to enforce their concerns.

[close04]

Musk appears far less predictibile, more volatile than Zuck. Musk also got directly involved in US politics aligned with of a man who singlehandedly butchered US relations with almost everyone in the world. A man who threatened Denmark with taking their territory by force.

You’re calling it “political motivation” as some sort of blind hate or vendetta out of principle, cutting off the nose to spite the face. But you can no longer separate Musk from politics and aggression towards Denmark.

The pension fund’s assessment looks entirely valid, objective and justifiable to me. But for anyone who personally favors Musk and his political views any dismissal will look politically motivated. It’s easy to cry foul. In this light your shallow dismissal might be just as politically motivated.

[vrganj]

The political motivation is on Musks part. There's no unpolitical view of a man who ransacked the US government and is propping up far-right movements all over Europe.