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SpaceX stock drops to a new low and loses $1 trillion in value in a month
(www.businessinsider.com)
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If you're in a position to dictate what shareholders get, you have no real reason to go public. Just keep it privately owned.
You go public to raise funds. The least reasonable thing to do to someone is ask them for money with a pinky promise that they might make a profit. Usually, those people are going to want something in return, like a say in how their money is spent.