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If not now for the IPO, why would they be compelled by investors to do it later as you imply?

Trusts are not a new mechanism.

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Oh, no i'm just saying that's the trigger when you get sued
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Similar language is in spacex's IPO but with musk setting the agenda and not shareholders and it flew just fine.

Market seems to tolerate bullshit better than I expected

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Sorry, when you say similar language, do you mean it's disclosed? That's all I was responding to. This isn't my area, but I practiced securities law for 10 years and to me an arrangement affecting governance like this would need to be disclosed under 10(b)-5.
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Yeah, over time owning stocks in public companies seems to have meant less and less in concrete terms while the prices have kept going higher.
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Cannot just transplant one company's situation to another. Market tolerated Musk because its Musk. Musk has several unique qualities:

- He has track record of making bets in the past and payoff.

- He is way better at working in hardware space than software. His ai data center built out is very fast.

- He is similar to Zuck that he would pivot fast towards whatever is making money. The llm bet might not pan out as good as he thought, but he quickly transitioned into a compute seller

- He is very good at financial engineering. This is an often overlooked quality of musk. His spacex ipoed at the best time and beat both anthropic/openai to the market. Now the other 2 are trapped in the current financial situation.

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One more: he is literally the richest man in the world
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