Musk: Keeping Companies Private Allows More Risk and Efficiency
• Musk criticizes high regulatory burden and shareholder pressure on public companies, says it limits efficiency
• Taking companies public provides access to capital, but Musk wouldn't recommend it "unless they really have to"
• Keeping SpaceX private has allowed Musk to take more risk compared to Tesla
• Passive investing boom has punished non-index stocks and caused extreme market moves
• Percentage of market that's passive "too great"; active decisions still necessary