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As the article points out, Tesla went public before the "founder gets preferred shares that have all the voting power" thing became popular. Zuckerberg sells th
by colinmhayes 7y ago
As the article points out, Tesla went public before the "founder gets preferred shares that have all the voting power" thing became popular. Zuckerberg sells the non-voting shares, but Musk doesn't have any.
- mandeepj 7y agoYeah, I also read that in the article. It's incorrect. Google went public in 2004, and they have that voting structure. It's mentioned correctly in the article.
- dntbnmpls 7y ago> As the article points out, Tesla went public before the "founder gets preferred shares that have all the voting power" thing became popular. This is simply not true. Google popularized it in 2004 with their IPO. It's how page/brin today control over 50% of the alphabet votes. Zuckerburg copied page/brin. The reason why musk couldn't get the same privileges is because tesla wasn't a growth powerhouse that google/facebook/etc were. He wasn't in position to make such demands from investors.