SpaceX's IPO is a disaster waiting to happen for your pension fund

Why should people invest in SpaceX? Because they're going to be propped up by the US government for a long time. Nations need a way to get to space. SpaceX has launched more rockets than anyone in the last few years. Including 3x more than China's space agency.

> Shareholders will have no say in how the company is run. If and when he makes a mess of things, they will find it very hard to sue him because of various waivers. The board – that entity that is supposed to look out for shareholders - is loaded with Musk loyalists.

Does anyone seriously believe that an independent board of investors can deliver better results than a founder?

If you look at the companies that built the most amount of wealth in the last 20 years, from Meta, Google, Tesla, Alphabet, Nvidia, what many of them share is more or less singular control by the people in charge. Sometimes its super-voting shares but other times its just founder mentality and ability to make big bets and set the direction.

The rest of the article is similarly non-sensical. Everyone will be forced to buy it but it's going to crash! The prior investors will sell their shares! The IPO is an exit mechanism!