Everything on IPO & M&A

SpaceX's IPO filing reveals a dual-class stock structure granting Elon Musk control, alongside an acquisition of Cursor (XAI) for ~$60B that likely involves stock swaps and overvaluation, raising fiduciary concerns for SpaceX shareholders.

Impact: The lack of independent board oversight due to dual-class shares may lead to value-diluting deals benefiting Musk's other ventures, prompting scrutiny of governance risks in public filings.

— from Apple Succession, SpaceX IPO Risks, and Tucker Carlson's 2028 Pivot · Pivot· Apr 24, 2026