Posted 12/22/2023, 4:46:59 AM
Musk Criticizes Public Markets, Cites Excess Regulation and Passive Investing Concentration
- Elon Musk criticized US financial markets, citing immense regulatory pressure on public companies like Tesla
- He noted shareholder pressure limits efficiency and passive investing leads to just 4-5 major firms influencing markets
- Keeping SpaceX private allows more risk-taking than Tesla, though being public gets steady capital
- Musk said passive investing has gone too far, with decisions of just 4-5 major active investors moving markets
- The text cites Twitter founder Jack Dorsey also arguing public investors had hurt Twitter, urging Musk to take it private