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Huh, so Elon's lawsuit worked? The nonprofit will retain control? Or is this just spin on a plan that will eventually still sideline the nonprofit?
by modeless 1y ago
Huh, so Elon's lawsuit worked? The nonprofit will retain control? Or is this just spin on a plan that will eventually still sideline the nonprofit?
- j_maffe 1y agoIt more sounds like the district attorneys won
- blagie 1y agoTo be specific: The nonprofit currently retains control. It will stop once more dilution sets in.
- deleted 1y ago[deleted]
- saretup 1y agoThe whole article feels like justifying a bunch of legal nonsense to get to the end result of removing the capped structure.
- az226 1y agoYes and no. It sounds like the capped profit PPU holders will get to have their units convert 1:1 with unlimited profit equity shares, which are obviously way more valuable. So the nonprofit loses insanely in this move and all current investors and employees make a huge amount.