HOW SPACEX'S IPO CEMENTS ELON MUSK'S GRIP ON THE COMPANY

Summary from the TLDR newsletter

SpaceX has adopted a corporate governance policy that will erode typical shareholder protections and give Elon Musk virtually unchecked executive authority when the company goes public. It is combining supervoting shares, mandatory arbitration, stricter rules on shareholder proposals, and Texas corporate law to give Musk and other insiders broad control. The rules sharply limit investors' ability to challenge management, sue in court, and force votes on governance issues. It will protect SpaceX from the kind of criticism aimed at Tesla, where investors have challenged Musk on issues ranging from his pay package to the acquisition of his solar energy company, SolarCity.