Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

wsj.com

Post reply on HN
Print view View original

281–290 of 344 posts

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#281

Post by andsoitis »

dragontamer wrote: post #250
kelnos wrote: post #227

Earlier quoted context omitted.

Willful ignorance is not an excuse. If you buy into an ETF, you are delegating responsibility to the people who run the ETF (or the people who maintain the index that the ETF tracks), and you've decided you're ok with that, and are ok with whatever companies are in the index/ETF. You can always decide to pick an ETF that doesn't invest in the companies you don't like, or invest in individual stocks if you have the ti…

I'm not saying I like this turn of events. I'm saying it's how the world works. The majority of pension funds (public or private) and 401k plans are simply passive index funds with nearly no direct voting rights (and at best very limited, indirect voting rights).

> The majority of pension funds (public or private) and 401k plans are simply passive index funds

That’s completely wrong.

Most 401k plans have by far more active fund options than passive fund options. Notwithstanding, more and more dollars are tilting towards the passive index funds, i.e. through consumer choice.

Where do you get your information from?

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#282

Post by UltraSane »

dgellow wrote: post #65
matwood wrote: post #49

Earlier quoted context omitted.

Remember this was also when SpaceX was actually about space, instead of mostly AI and Twitter. Long-term shareholders that were sold on the space, have to be thinking about how to get out once their lockups expire.

Not just that, but private investors were sold shares that all had the same voting rights. Since just before the IPO SpaceX now has dual class shares, Elon and a few insiders have class-B shares with 10x the voting power, while everybody else (including private investors) have class-A shares with 1x the voting power

Shares with more votes like that really need to be illegal.

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#283

Post by sdenton4 »

ambicapter wrote: post #156
sdenton4 wrote: post #149

Earlier quoted context omitted.

"succeeding despite Elon musk" is, however, a skill set applicable at only a (strike)small number of companies (/strike) single company.

I'm sure her skill here translates to other difficult CEO personalities.

... But are those CEOs ready to admit that those skills are needed?

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#284

Post by lesuorac »

lpribis wrote: post #268
lesuorac wrote: post #260

Earlier quoted context omitted.

YouTube is probably one of the few companies that could benefit from data centers in space. Rather than co-locating media servers into ISPs you can stick them into space so they're just closer. Space in NYC isn't cheap. Space in space is free.

> Space in NYC isn't cheap. Space in space is free. ... what? Say what you want about starship etc etc, but space in space is far from free and will be for a long time.

Who do you pay rent to in space?

Space is free; you don't even pay property taxes.

Transportation costs are not but that's the whole reason you invest into (at the time) a space transportation company.

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#285

Post by aeternum »

bogzz wrote: post #270
aeternum wrote: post #245

Earlier quoted context omitted.

All energy generated on earth contributes to global warming, even solar panels which decrease Earth's albedo. If you care about climate change and the earth you should want the datacenters to be in space. The earth is limited in the amount of thermal energy it can radiate.

Ah yes, burn thousands of tonnes of methane (assuming Spacex) to launch a data centre satellite into an orbit, then burn thousands more to maintain it and update compute or burn the entire thing in the upper atmosphere, to avoid contributing to global warming by not burning all of that fuel and dry mass.

Both aluminum and iron atoms are heavy and thus make it into the ocean where they both increase the ocean's carbon sink capacity. https://phys.org/news/2021-05-aluminum-affect-climate-ocean-...

From an energy POV, the chemical launch energy required for orbital insertion is 900GJ per satellite (when amortized) whereas the satellite produces 18,900GJ over its 5-yr lifetime, and far more if it lasts longer.

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#286

Post by ballon_monkey »

georgeburdell wrote: post #280
ballon_monkey wrote: post #217

Earlier quoted context omitted.

Facebook would never have become what it is today if Zuck had lost control of the voting. It would have been sold 10 times over and prob not exist today. I suspect the same could be said for Mask and his businesses.

Facebook IPOd in 2012, after it was already used by hundreds of millions of people, and after it bought Instagram

When FB was private Zuck had 57% of class B voting right stock. He retained this on IPO. My point is, if he did not have control over voting, before/after IPO, FB/Meta would not be where it is today. He prevented Ads being on FB for many years operating at a loss to grow FB while shareholders complained wanting to shove Ads all over the place.

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#287

Post by notfromhere »

ballon_monkey wrote: post #217
georgeburdell wrote: post #67

Earlier quoted context omitted.

With the serious lapses in governance being made by founders with these special shares, such as Musk and Zuckerberg, I wonder if the shares without these special rights will be substantially discounted. What rights do these other shareholders retain that would keep them valuable? Rights to compensation in the case of bankruptcy?

Facebook would never have become what it is today if Zuck had lost control of the voting. It would have been sold 10 times over and prob not exist today. I suspect the same could be said for Mask and his businesses.

You’re saying this as if that wouldn’t have been a positive outcome

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#288

Post by notfromhere »

jdross wrote: post #79
georgeburdell wrote: post #67

Earlier quoted context omitted.

With the serious lapses in governance being made by founders with these special shares, such as Musk and Zuckerberg, I wonder if the shares without these special rights will be substantially discounted. What rights do these other shareholders retain that would keep them valuable? Rights to compensation in the case of bankruptcy?

These have become some of the most valuable companies on Earth. The idea that there are lapses in governance in these companies is insane. Any shareholder is buying in fully aware of the governance structure. Many because of it! Shareholders’ rights are clearly enumerated.

The value of the company and lapses in governance have nothing to do with each other. One does not disprove the other

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#289

Post by deadbabe »

Fricken wrote: post #95
maipen wrote: post #68

Earlier quoted context omitted.

Most sane comment. Even in the last Elon Musk interview by The Economist, he admited that it's likely China will win at the end. The gap is so close now. Opinions matter not, the Chinese will have their own GPUs, RAM and everything they need. Giants like google and spacex are the few that can handle it because their business is not only about shipping the best models.

It isn't currently —for google— only about shipping the best models, but in the future however...

In the future, it still won’t be.

Google has vast product lines, AI is just a feature in them. They only need AI good enough to deliver value.

Anthropic is basically nothing beyond Claude, and most average people do not give a shit about frontier intelligence, AI became more than enough for them a few versions back.

Re: Google Discloses $94.1B in SpaceX Stock, Marking 6% Stake

#290

Post by DaedalusII »

dragontamer wrote: post #222
DaedalusII wrote: post #129

Earlier quoted context omitted.

you should have a look at proxy firms. you would be surprised

Could you explain to me how an investor owning SPY shares gets to control the proxy vote? Oh, don't worry. I already know the answer. I'm asking if YOU can tell me the answer.

that what i mean. where do all those votes go? someone controls them. and those interests are bought and paid for
Post reply on HN