Equity Equity Monday: Elon Musk reinvents corporate governance
Nov 8, 2021
The latest private market news unfolds with insights into fluctuating Asian and European stocks, alongside Bitcoin's rise. Elon Musk grabs attention with unorthodox corporate governance tactics via Twitter polls about his Tesla shares. SoftBank faces challenges after disappointing results and promises a major share buyback. Meanwhile, startups like Matter Labs and H2O.ai secure significant funding, showcasing innovations in Ethereum and AI. Additionally, trust issues emerge among tech giants, particularly concerning Google's AMP, as the landscape shifts.
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Crypto Regulations and Taxes
- New crypto regulations in the US are causing concern for market participants due to potential legal and tax reporting requirements.
- NFT gaming, while popular, presents a complex tax situation for players, with many taxable events and inadequate reporting tools.
SoftBank's Losses
- SoftBank Vision Fund 1 posted losses, primarily due to declining values of Coupang and Didi.
- This triggered a chain reaction affecting investors globally and led SoftBank to announce a share buyback.
Musk's Twitter Poll
- Elon Musk polled Twitter users on whether he should sell 10% of his Tesla stock, raising questions about corporate governance.
- This generated much discussion and even a critical editorial in the Wall Street Journal.