Isn't that how Facebook is ran too? Basically Zuckerberg's private company, that in theory is public?
replyRight, if Meta had good governance Zuck wouldn't have been allowed to invest so much in Metaverse.
replyThough (at least to my knowledge) Zuckerberg doesn't have a history of abusing his authority to make deals that advantage other companies he owns at the expense of Facebook.
replyE.g. SpaceX buying up large numbers of Cybertrucks Tesla couldn't sell at MSRP, not even negotiating a good fleet sale deal.
Where did that $70B from the metaverse go to?
replyAs far as I know, he lost that value with honest bad decision making.
replyFacebook is still a Delaware company, with lots of established case law for what Zuckerberg can and can not do, voting majority or not. SpaceX is now some Texas corporation with a state legislature ready to enable whatever Musk wants.
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replyTech bros reinvent autocracy
replyIt seems like a fine offer to have exist, but one that a pension fund with low risk tolerance wouldn't want to take. So everything seems reasonable with the world.
replySimilarly I don't understand why indicies are rushing to change their rules to allow SpaceX in. People accept a certain risk tolerance and changing the rules to ramp up the risk seems questionable at best.