Everybody knows Tesla's board is absolutely not independent, and Tesla literally buying ads trying to convince shareholders to vote yes, should have erase any remaining doubts about it.
I think it also highlight quite well the issue with public companies and passive funds. If Tesla was a private company, or a small public company, then I would very much like them to do whatever they want.
But it's not that - it's a big public company, turned meme stock and 100% treated as a private company by Musk. It's sufficiently big though that was included into several indexes, and thus tens of billions of $ of passive investment flows poured into it. That's why we have rather strict rules about what can and cannot be done as a public company, and especially one being part of major indexes. Of course Musk don't think the rules apply to him.
This was expected actually.
Everybody knows Tesla's board is absolutely not independent, and Tesla literally buying ads trying to convince shareholders to vote yes, should have erase any remaining doubts about it.
I think it also highlight quite well the issue with public companies and passive funds. If Tesla was a private company, or a small public company, then I would very much like them to do whatever they want.
But it's not that - it's a big public company, turned meme stock and 100% treated as a private company by Musk. It's sufficiently big though that was included into several indexes, and thus tens of billions of $ of passive investment flows poured into it. That's why we have rather strict rules about what can and cannot be done as a public company, and especially one being part of major indexes. Of course Musk don't think the rules apply to him.