Ryan Mac

But he was able to rescue that company by merging it with, at the time, his AI company, XAI.

And so even though that company has not been a financial success, he's been able to bury that within his AI company, which on paper was quite the success in terms of raising money.

You are, because if you were an investor in his Twitter takeover, you now presumably hold SpaceX shares.

So you're doing quite well for yourself.

And so you think about risk...

And you think about accountability for someone like Elon Musk and the rules of the game are just completely different.

Because with most public companies, public CEOs are accountable to their shareholders.

These shareholders have votes.

And if a company doesn't do well, they can vote against their CEO or pressure the board to take action against the CEO.

Or in some cases, file shareholder lawsuits if they believe something untoward has been done by the CEO or other executives.

Right.

And what Elon Musk has done in this case at SpaceX is remove a lot of the levers for accountability.

I look at the amount of power he has in the company.

He has instituted what we call super voting shares, where the shares he holds have, in this case, 10 to one votes compared to your average share.

He has almost 85% of the voting control in the company.

He has this incredible super majority where he essentially has unchallenged power.

He controls the board.

He has appointed friends and associates to the board.

And essentially, he gets to rule the company without any challenge.

Right.