Post by Open MIC

The SpaceX IPO is setting a bad example. 📈 A new Investor Brief from Open MIC explores the governance risks tied to multi-class share structures in emerging technology companies. With its inclusion of a multi-class share structure, the SpaceX IPO is setting the scene for a new generation of transformative technologies to be controlled by a small number of insiders—without any oversight. Multi-class shares are not just bad for investors—they’re bad for companies and the broader economy. Past experience with social media companies shows how shielding founders from investor oversight enables unchecked decision-making, contributing to real-world harms and persistent financial underperformance. AI is too consequential a technology to be governed by a small number of “founder kings” with no accountability to investors or the public. The time to put guardrails on dominant AI developers is now, while IPO structures are still being written and investor leverage is at its peak. Read the full investor brief here 👇 #shareholderengagement #aiinvestment #investorbrief