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SpaceX President: Musk Indispensable to Corporate Governance, IPO at This Time to Meet Massive Expansion Needs

BlockBeats News, June 14th, SpaceX President and COO Gwynne Shotwell publicly defended Musk's governance structure with over 80% super-voting rights. She bluntly stated that no one could run SpaceX like him. While the company would not collapse without Musk, it would be entirely different, and the absence of Musk would be a regret. Shotwell revealed that Musk recently personally participated in an investor meeting, and many people only realized his true nature after meeting him. Musk insisted on giving retail investors around 33% of the retail allocation in the IPO, embodying his vision of making space accessible to everyone.

Regarding why they chose to go public now, Shotwell stated that in the early days, the company was actually not sure about going public. As a private company, SpaceX could focus more on long-term goals without the interference of Wall Street's quarterly performance pressure, thereby maintaining a high-intensity innovation pace and long-term decision-making. But now the timing is right. The commercialization of Starlink has laid a solid foundation, and new businesses like AI computing are developing rapidly. The company has reached a stage where massive expansion is needed. The main purpose of going public is to obtain a huge capital infusion to support Starship development, global deployment of Starlink, and other high-investment projects, all of which are very cash-intensive. Going public is a natural step for the company to transition from a focus on execution to scale growth, allowing SpaceX to secure the necessary funds for development while maintaining its core culture.


Shotwell also discussed SpaceX's future. In the long run, AI, robotics, and autonomous driving will drive significant computing and communication demands, benefiting Starlink. Starship is a key next step that will significantly reduce launch costs and support future businesses like orbital computing.

Source: BlockBeats

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