Voting control doesn't change management's fiduciary duty to all shareholders. The founders retaining voting control has worked out fine for Alphabet shareholders.
> 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.
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.
> 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.
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.
Every single one of those examples is both valid and - I believe, at least - misunderstood.
Musk has a singular goal as far as I can tell: to make humanity a multi-planetary species. All of those things are testing the boundaries of what's possible in areas that will or could be very important for building a permanent settlement on Mars.
I posit that while there's much room for debate around whether or not those projects are viable, as far as I can tell everything Musk has done has been in service of building the corporate framework, talent pool, skills, and technology necessary to colonize Mars.
Ok. A permanent settlement on Mars. Given the personal control structure at play in his companies giving him autocratic control there, why would anyone believe he wouldn’t be anything but a Martian autocrat, and who in their right mind would willingly submit their own sovereignty to Emperor Musk the First of Mars? It’s not exactly like you could change your mind and walk away. You’d be literally putting your life in the hands of this wildly erratic person.
I'm sorry, you'll have to do an awful lot of explaining to do if you want me to believe Hyperloop, a 100+ year idea proven not to work, and the Vegas Loop, one of the most asinine infrastructure projects I've ever witnessed in my life, could possibly in any way whatsoever contribute to life on Mars
Fiduciary duty is meaningless without recourse. The governance structure denies any recourse. A case of breach of fiduciary duty would never make it to trial under the governance structure.
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.