Elon Musk Explains Why the SpaceX Board Must Be Powerless to Fire Him![Elon Musk Explains Why the SpaceX Board Must Be Powerless to Fire Him
In an X post on Friday, Elon Musk warned future shareholders that while returns could be massive eventually, those who invest in SpaceX should not “expect entirely smooth sailing along the way,” and that he must be allowed to focus on his mission of making human life “multiplanetary.” I’m thinking you should heed is warning. After all, if you’re considering buying SpaceX stock, what do you think will happen at SpaceX after the expected IPO next month? You can’t be picturing SpaceX becoming some boring pillar of economic stability like AT&T, can you? Speaking to his employees in February, Musk described his dream for the future of SpaceX as one full of space catapults, a Dyson sphere around the sun, and AI that feeds on secret knowledge previously known only to long-dead aliens.
In other words, if you’re imagining good old fashioned American capitalist enterprise with healthy profits, dividends, and market-friendly competition, like something from a 1940s propaganda film, you’re investing in the wrong company. [embed]https://www.youtube.com/watch?v=eFvOPpBVff0[/embed] To wit: SpaceX’s corporate governance regime will be set up in such a way that the CEO and chairman cannot be fired, according to a report last month from Reuters. SpaceX will have different classes of stock with different power levels. Class A for pension funds and Robinhood users—plebs, in other words—and Class B for people who matter. Class B stock will carry ten times the voting power of Class A stock, and Musk will control the Class B stock.
The IPO filing, part of which is excerpted in the Reuters article, spells this out. Musk “can only be removed from our board or these positions by the vote of Class B holders.” If Musk “retains a significant portion of his holdings of Class B common stock for an extended period of time, he could continue to control the election and removal of a majority of our board.” Basically, Musk stays in both positions as long as he wants, and can easily veto any effort to fire him. Common shares without voting power aren’t rare these days, but a powerless board is. As a Harvard corporate governance expert named Lucian Bebchuk explained to Reuters, “Usually removal of the CEO is a decision left to the board, and controllers rely on their power to replace the board.”
So if you own stock in SpaceX, you’re just along for the ride. On Friday, in response to a Financial Times article about SpaceX’s draconian governance scheme, Musk explained himself. Sort of: Yes, I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars, not pandering to someone’s bullshit quarterly earnings bonus! Obviously, IF SpaceX succeeds in this absurdly difficult goal, it will be worth many orders of… — Elon Musk (@elonmusk) May 15, 2026 “I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars,” he wrote. He often does this. In response to criticism—or just as often in response to fans shielding him from criticism—he would say some variation on if people are mean to me, humanity will never be multiplanetary.
For instance, when CleanTechnica leapt to his defense after Bernie Sanders criticized him over income inequality in 2021, he replied, “I am accumulating resources to help make life multiplanetary & extend the light of consciousness to the stars.” That same year, in response to handwringing from European finance ministers about his potential monopoly over satellite launches, he posted, “SpaceX is developing rockets needed to make life multiplanetary — full & rapid reusability at large scale.” Also in 2021, when the FAA expressed concern that SpaceX had overstepped his clearance from the federal government, he wrote about how much he hated the FAA’s space division, saying, “Their rules are meant for a handful of expendable launches per year from a few government facilities. Under those rules, humanity will never get to Mars.” Some are predicting shortly after the IPO, the accompanying increase in SpaceX’s valuation will cause Musk’s net worth to cross the trillion-dollar threshold. This isn’t a trivial side effect. Elon Musk is more or less signaling that he is the protagonist of humanity’s future, and everyone else is an NPC. Do you believe that? Then by all means buy the stock (This is not financial advice). #Elon #Musk #Explains #SpaceX #Board #Powerless #FireElon Musk,ipo,SPACEX Elon Musk Explains Why the SpaceX Board Must Be Powerless to Fire Him
In an X post on Friday, Elon Musk warned future shareholders that while returns could be massive eventually, those who invest in SpaceX should not “expect entirely smooth sailing along the way,” and that he must be allowed to focus on his mission of making human life “multiplanetary.” I’m thinking you should heed is warning. After all, if you’re considering buying SpaceX stock, what do you think will happen at SpaceX after the expected IPO next month? You can’t be picturing SpaceX becoming some boring pillar of economic stability like AT&T, can you? Speaking to his employees in February, Musk described his dream for the future of SpaceX as one full of space catapults, a Dyson sphere around the sun, and AI that feeds on secret knowledge previously known only to long-dead aliens.
In other words, if you’re imagining good old fashioned American capitalist enterprise with healthy profits, dividends, and market-friendly competition, like something from a 1940s propaganda film, you’re investing in the wrong company. [embed]https://www.youtube.com/watch?v=eFvOPpBVff0[/embed] To wit: SpaceX’s corporate governance regime will be set up in such a way that the CEO and chairman cannot be fired, according to a report last month from Reuters. SpaceX will have different classes of stock with different power levels. Class A for pension funds and Robinhood users—plebs, in other words—and Class B for people who matter. Class B stock will carry ten times the voting power of Class A stock, and Musk will control the Class B stock.
The IPO filing, part of which is excerpted in the Reuters article, spells this out. Musk “can only be removed from our board or these positions by the vote of Class B holders.” If Musk “retains a significant portion of his holdings of Class B common stock for an extended period of time, he could continue to control the election and removal of a majority of our board.” Basically, Musk stays in both positions as long as he wants, and can easily veto any effort to fire him. Common shares without voting power aren’t rare these days, but a powerless board is. As a Harvard corporate governance expert named Lucian Bebchuk explained to Reuters, “Usually removal of the CEO is a decision left to the board, and controllers rely on their power to replace the board.”
So if you own stock in SpaceX, you’re just along for the ride. On Friday, in response to a Financial Times article about SpaceX’s draconian governance scheme, Musk explained himself. Sort of: Yes, I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars, not pandering to someone’s bullshit quarterly earnings bonus! Obviously, IF SpaceX succeeds in this absurdly difficult goal, it will be worth many orders of… — Elon Musk (@elonmusk) May 15, 2026 “I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars,” he wrote. He often does this. In response to criticism—or just as often in response to fans shielding him from criticism—he would say some variation on if people are mean to me, humanity will never be multiplanetary.
For instance, when CleanTechnica leapt to his defense after Bernie Sanders criticized him over income inequality in 2021, he replied, “I am accumulating resources to help make life multiplanetary & extend the light of consciousness to the stars.” That same year, in response to handwringing from European finance ministers about his potential monopoly over satellite launches, he posted, “SpaceX is developing rockets needed to make life multiplanetary — full & rapid reusability at large scale.” Also in 2021, when the FAA expressed concern that SpaceX had overstepped his clearance from the federal government, he wrote about how much he hated the FAA’s space division, saying, “Their rules are meant for a handful of expendable launches per year from a few government facilities. Under those rules, humanity will never get to Mars.” Some are predicting shortly after the IPO, the accompanying increase in SpaceX’s valuation will cause Musk’s net worth to cross the trillion-dollar threshold. This isn’t a trivial side effect. Elon Musk is more or less signaling that he is the protagonist of humanity’s future, and everyone else is an NPC. Do you believe that? Then by all means buy the stock (This is not financial advice). #Elon #Musk #Explains #SpaceX #Board #Powerless #FireElon Musk,ipo,SPACEX](https://gizmodo.com/app/uploads/2026/03/elon-musk-laughing-1-1280x897.jpeg)
In an X post on Friday, Elon Musk warned future shareholders that while returns could be massive eventually, those who invest in SpaceX should not “expect entirely smooth sailing along the way,” and that he must be allowed to focus on his mission of making human life “multiplanetary.”
I’m thinking you should heed is warning. After all, if you’re considering buying SpaceX stock, what do you think will happen at SpaceX after the expected IPO next month? You can’t be picturing SpaceX becoming some boring pillar of economic stability like AT&T, can you?
Speaking to his employees in February, Musk described his dream for the future of SpaceX as one full of space catapults, a Dyson sphere around the sun, and AI that feeds on secret knowledge previously known only to long-dead aliens.
In other words, if you’re imagining good old fashioned American capitalist enterprise with healthy profits, dividends, and market-friendly competition, like something from a 1940s propaganda film, you’re investing in the wrong company.
To wit: SpaceX’s corporate governance regime will be set up in such a way that the CEO and chairman cannot be fired, according to a report last month from Reuters. SpaceX will have different classes of stock with different power levels. Class A for pension funds and Robinhood users—plebs, in other words—and Class B for people who matter. Class B stock will carry ten times the voting power of Class A stock, and Musk will control the Class B stock.
The IPO filing, part of which is excerpted in the Reuters article, spells this out. Musk “can only be removed from our board or these positions by the vote of Class B holders.” If Musk “retains a significant portion of his holdings of Class B common stock for an extended period of time, he could continue to control the election and removal of a majority of our board.”
Basically, Musk stays in both positions as long as he wants, and can easily veto any effort to fire him. Common shares without voting power aren’t rare these days, but a powerless board is. As a Harvard corporate governance expert named Lucian Bebchuk explained to Reuters, “Usually removal of the CEO is a decision left to the board, and controllers rely on their power to replace the board.”
So if you own stock in SpaceX, you’re just along for the ride.
On Friday, in response to a Financial Times article about SpaceX’s draconian governance scheme, Musk explained himself. Sort of:
Yes, I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars, not pandering to someone’s bullshit quarterly earnings bonus!
Obviously, IF SpaceX succeeds in this absurdly difficult goal, it will be worth many orders of…
— Elon Musk (@elonmusk) May 15, 2026
“I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars,” he wrote.
He often does this. In response to criticism—or just as often in response to fans shielding him from criticism—he would say some variation on if people are mean to me, humanity will never be multiplanetary.
For instance, when CleanTechnica leapt to his defense after Bernie Sanders criticized him over income inequality in 2021, he replied, “I am accumulating resources to help make life multiplanetary & extend the light of consciousness to the stars.” That same year, in response to handwringing from European finance ministers about his potential monopoly over satellite launches, he posted, “SpaceX is developing rockets needed to make life multiplanetary — full & rapid reusability at large scale.” Also in 2021, when the FAA expressed concern that SpaceX had overstepped his clearance from the federal government, he wrote about how much he hated the FAA’s space division, saying, “Their rules are meant for a handful of expendable launches per year from a few government facilities. Under those rules, humanity will never get to Mars.”
Some are predicting shortly after the IPO, the accompanying increase in SpaceX’s valuation will cause Musk’s net worth to cross the trillion-dollar threshold. This isn’t a trivial side effect. Elon Musk is more or less signaling that he is the protagonist of humanity’s future, and everyone else is an NPC. Do you believe that? Then by all means buy the stock (This is not financial advice).
#Elon #Musk #Explains #SpaceX #Board #Powerless #FireElon Musk,ipo,SPACEX
In an X post on Friday, Elon Musk warned future shareholders that while returns could be massive eventually, those who invest in SpaceX should not “expect entirely smooth sailing along the way,” and that he must be allowed to focus on his mission of making human life “multiplanetary.”
I’m thinking you should heed is warning. After all, if you’re considering buying SpaceX stock, what do you think will happen at SpaceX after the expected IPO next month? You can’t be picturing SpaceX becoming some boring pillar of economic stability like AT&T, can you?
Speaking to his employees in February, Musk described his dream for the future of SpaceX as one full of space catapults, a Dyson sphere around the sun, and AI that feeds on secret knowledge previously known only to long-dead aliens.
In other words, if you’re imagining good old fashioned American capitalist enterprise with healthy profits, dividends, and market-friendly competition, like something from a 1940s propaganda film, you’re investing in the wrong company.
To wit: SpaceX’s corporate governance regime will be set up in such a way that the CEO and chairman cannot be fired, according to a report last month from Reuters. SpaceX will have different classes of stock with different power levels. Class A for pension funds and Robinhood users—plebs, in other words—and Class B for people who matter. Class B stock will carry ten times the voting power of Class A stock, and Musk will control the Class B stock.
The IPO filing, part of which is excerpted in the Reuters article, spells this out. Musk “can only be removed from our board or these positions by the vote of Class B holders.” If Musk “retains a significant portion of his holdings of Class B common stock for an extended period of time, he could continue to control the election and removal of a majority of our board.”
Basically, Musk stays in both positions as long as he wants, and can easily veto any effort to fire him. Common shares without voting power aren’t rare these days, but a powerless board is. As a Harvard corporate governance expert named Lucian Bebchuk explained to Reuters, “Usually removal of the CEO is a decision left to the board, and controllers rely on their power to replace the board.”
So if you own stock in SpaceX, you’re just along for the ride.
On Friday, in response to a Financial Times article about SpaceX’s draconian governance scheme, Musk explained himself. Sort of:
Yes, I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars, not pandering to someone’s bullshit quarterly earnings bonus!
Obviously, IF SpaceX succeeds in this absurdly difficult goal, it will be worth many orders of…
— Elon Musk (@elonmusk) May 15, 2026
“I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars,” he wrote.
He often does this. In response to criticism—or just as often in response to fans shielding him from criticism—he would say some variation on if people are mean to me, humanity will never be multiplanetary.
For instance, when CleanTechnica leapt to his defense after Bernie Sanders criticized him over income inequality in 2021, he replied, “I am accumulating resources to help make life multiplanetary & extend the light of consciousness to the stars.” That same year, in response to handwringing from European finance ministers about his potential monopoly over satellite launches, he posted, “SpaceX is developing rockets needed to make life multiplanetary — full & rapid reusability at large scale.” Also in 2021, when the FAA expressed concern that SpaceX had overstepped his clearance from the federal government, he wrote about how much he hated the FAA’s space division, saying, “Their rules are meant for a handful of expendable launches per year from a few government facilities. Under those rules, humanity will never get to Mars.”
Some are predicting shortly after the IPO, the accompanying increase in SpaceX’s valuation will cause Musk’s net worth to cross the trillion-dollar threshold. This isn’t a trivial side effect. Elon Musk is more or less signaling that he is the protagonist of humanity’s future, and everyone else is an NPC. Do you believe that? Then by all means buy the stock (This is not financial advice).
![‘Alice in Borderland: Retry’ Makes Up For the Netflix Series Reheating ‘Squid Game’ Nachos
Not to pick at an irritated scab, but when the eighth and final season of Game of Thrones… happened… I, a fan of the series via the show, naively assumed all author George R.R. Martin had to do was pen a different bookend to the series to recover all the lost goodwill of the series. Little did I know that was a touchy subject among book-readers who’ve been tortured by the author’s perpetual procrastination for years. Condolences. While the same scenario isn’t fully analogous with what’s happened with Netflix’s live-action Alice in Borderland TV show and VIZ Media’s English manga release of the series’ extended epilogue, Alice in Borderland: Retry, the manga more than retroactively makes up for the huge disappointment I felt witnessing the show I loved go full Squid Game in the worst way possible in its final season. [embed]https://www.youtube.com/watch?v=49_44FFKZ1M[/embed] Alice in Borderland is a cutting series in which a man named Arisu gets trapped in a sci-fi death game where a group of sequestered survivors must compete in a litany of challenges in an abandoned city. Think Gantz meets Kaiji. Its rules are cruel, but never completely ass-pull, with players logically outfoxing each other to win games lest a laser from the sky punch them through the top of their heads.
The show was so good I didn’t realize it was based on a manga by Haro Aso (Zom 100: Bucketlist of the Dead) that was also adapted into an anime—a fact that speaks to its overall quality in a sea of lackluster live-action Netflix projects. And for two seasons it came and went, adapting that story prior to Squid Game mania and, subsequently, in the throes of its pop culture takeover. That is, until a third season was released last year, ripping Arisu and his lover Usagi from their peaceful lives post-death games and throwing them back into the fray like a kid with a magnifying glass looming over an ant hill.
[embed]https://www.youtube.com/watch?v=_8p6YkEPVco[/embed] I was rocking with the series for a bit despite the show clearly making stuff up as it went along until it committed the tacky, cardinal sin of copying what Squid Game’s third season did in its final moments, desperately sequel-baiting itself by asking the question no one was curious about in a stinger: What if it took place in America? May that answer never come because of the road it took to tarnish the show’s reputation. As far as I’m concerned, there was no third season. Alice in Borderland Retry is now available in print and digital! Read a free preview: https://t.co/OJcjm9wliH pic.twitter.com/8iqGzwjTIV — VIZ Media (@VIZMedia) July 21, 2026 So imagine my surprise to find that Viz Media’s recently released localization of Aso’s 2020 epilogue manga to the series, set 10 years after its conclusion, would retroactively act as a remedy to the Netflix series’ final season I wish I could wipe from my mind palace. The manga starts out almost exactly the same as the third season of the Netflix series (duh, the manga came out first), with Arisu going from a NEET to a psychologist and Usagi expecting their first child. That’s the last thing similar between the two.
Unlike the Netflix series’ contrived reasoning to get everyone back into the games, Arisu winds up in the games for a pretty simple reason. He and five other participants get hit by a billboard and wind up in the Borderlands. If you’ve watched the show or read the manga, this inciting incident is far from the cataclysmic events that send Arisu to the Borderlands the first time around, but what it lacks in spectacle, it more than makes up for in the challenge that awaits them. In contrast to the more-is-more inventiveness of the Netflix series’ games in its final season, Arisu and company only have to play one game, which is essentially musical chairs but for keeps. Despite the simplicity of the game, the stakes of the 300+ page epilogue far exceed those of the Netflix series, where its collective of players, composed of an insurance employee, a nursery school teacher, an emergency room nurse, a doctor, and an unemployed man, have to debate whose life matters more. [embed]https://www.youtube.com/watch?v=Dq2p_B5MD0c[/embed] It’s rare that manga get a chance to reach a conclusion without getting the axe, and just as rare for series on an indefinite hiatus to start back up regardless of whether a creator is healthy, willing, and able to spin more narrative yarn years after the fact. Which begs the question whether the juice is worth the squeeze to loop back to a series that’s already over. Evidently, I wasn’t the only one in doubt of what, if anything, could be gained from revisiting a series whose manga concluded pretty succinctly. Aso had his doubts too, which he lays bare near the midpoint of the manga, writing the following:
It’s been ten years since I started working on Alice in Borderland. Like Arisu, I didn’t want to ever revisit a horrifying world like Borderland, but I was given the opportunity to write a sequel and I just couldn’t pass it up. What does it mean to live? What do our lives mean? Now, at 40 years old, I want to retry answering these questions. While its game is a deceptively simple one, a fatal road of agony, betrayal, and second-guessing the inherent good in the human spirit left me in awe as I flipped through its pages and found that Aso still had it in him to concoct an intense, not-so-unwinnable death game, and that what he had to say serves as a footnote to a series that’s more than earned its place in the pantheon of death game narratives. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Alice #Borderland #Retry #Netflix #Series #Reheating #Squid #Game #NachosAlice in Borderland,Manga,Netflix,Viz Media ‘Alice in Borderland: Retry’ Makes Up For the Netflix Series Reheating ‘Squid Game’ Nachos
Not to pick at an irritated scab, but when the eighth and final season of Game of Thrones… happened… I, a fan of the series via the show, naively assumed all author George R.R. Martin had to do was pen a different bookend to the series to recover all the lost goodwill of the series. Little did I know that was a touchy subject among book-readers who’ve been tortured by the author’s perpetual procrastination for years. Condolences. While the same scenario isn’t fully analogous with what’s happened with Netflix’s live-action Alice in Borderland TV show and VIZ Media’s English manga release of the series’ extended epilogue, Alice in Borderland: Retry, the manga more than retroactively makes up for the huge disappointment I felt witnessing the show I loved go full Squid Game in the worst way possible in its final season. [embed]https://www.youtube.com/watch?v=49_44FFKZ1M[/embed] Alice in Borderland is a cutting series in which a man named Arisu gets trapped in a sci-fi death game where a group of sequestered survivors must compete in a litany of challenges in an abandoned city. Think Gantz meets Kaiji. Its rules are cruel, but never completely ass-pull, with players logically outfoxing each other to win games lest a laser from the sky punch them through the top of their heads.
The show was so good I didn’t realize it was based on a manga by Haro Aso (Zom 100: Bucketlist of the Dead) that was also adapted into an anime—a fact that speaks to its overall quality in a sea of lackluster live-action Netflix projects. And for two seasons it came and went, adapting that story prior to Squid Game mania and, subsequently, in the throes of its pop culture takeover. That is, until a third season was released last year, ripping Arisu and his lover Usagi from their peaceful lives post-death games and throwing them back into the fray like a kid with a magnifying glass looming over an ant hill.
[embed]https://www.youtube.com/watch?v=_8p6YkEPVco[/embed] I was rocking with the series for a bit despite the show clearly making stuff up as it went along until it committed the tacky, cardinal sin of copying what Squid Game’s third season did in its final moments, desperately sequel-baiting itself by asking the question no one was curious about in a stinger: What if it took place in America? May that answer never come because of the road it took to tarnish the show’s reputation. As far as I’m concerned, there was no third season. Alice in Borderland Retry is now available in print and digital! Read a free preview: https://t.co/OJcjm9wliH pic.twitter.com/8iqGzwjTIV — VIZ Media (@VIZMedia) July 21, 2026 So imagine my surprise to find that Viz Media’s recently released localization of Aso’s 2020 epilogue manga to the series, set 10 years after its conclusion, would retroactively act as a remedy to the Netflix series’ final season I wish I could wipe from my mind palace. The manga starts out almost exactly the same as the third season of the Netflix series (duh, the manga came out first), with Arisu going from a NEET to a psychologist and Usagi expecting their first child. That’s the last thing similar between the two.
Unlike the Netflix series’ contrived reasoning to get everyone back into the games, Arisu winds up in the games for a pretty simple reason. He and five other participants get hit by a billboard and wind up in the Borderlands. If you’ve watched the show or read the manga, this inciting incident is far from the cataclysmic events that send Arisu to the Borderlands the first time around, but what it lacks in spectacle, it more than makes up for in the challenge that awaits them. In contrast to the more-is-more inventiveness of the Netflix series’ games in its final season, Arisu and company only have to play one game, which is essentially musical chairs but for keeps. Despite the simplicity of the game, the stakes of the 300+ page epilogue far exceed those of the Netflix series, where its collective of players, composed of an insurance employee, a nursery school teacher, an emergency room nurse, a doctor, and an unemployed man, have to debate whose life matters more. [embed]https://www.youtube.com/watch?v=Dq2p_B5MD0c[/embed] It’s rare that manga get a chance to reach a conclusion without getting the axe, and just as rare for series on an indefinite hiatus to start back up regardless of whether a creator is healthy, willing, and able to spin more narrative yarn years after the fact. Which begs the question whether the juice is worth the squeeze to loop back to a series that’s already over. Evidently, I wasn’t the only one in doubt of what, if anything, could be gained from revisiting a series whose manga concluded pretty succinctly. Aso had his doubts too, which he lays bare near the midpoint of the manga, writing the following:
It’s been ten years since I started working on Alice in Borderland. Like Arisu, I didn’t want to ever revisit a horrifying world like Borderland, but I was given the opportunity to write a sequel and I just couldn’t pass it up. What does it mean to live? What do our lives mean? Now, at 40 years old, I want to retry answering these questions. While its game is a deceptively simple one, a fatal road of agony, betrayal, and second-guessing the inherent good in the human spirit left me in awe as I flipped through its pages and found that Aso still had it in him to concoct an intense, not-so-unwinnable death game, and that what he had to say serves as a footnote to a series that’s more than earned its place in the pantheon of death game narratives. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Alice #Borderland #Retry #Netflix #Series #Reheating #Squid #Game #NachosAlice in Borderland,Manga,Netflix,Viz Media](https://gizmodo.com/app/uploads/2026/07/Alice-in-Borderland-1280x853.jpg)
Post Comment