@chemoelectric @dangillmor - If and when he brings in other shareholders than it won't be private any longer.

But moreover, as long as it is a "corporation" the legal separation between shareholders, directors, and officers remains. The IRS and state would be extremely interested if it were operated as a sole proprietorship. That's often called "piercing the corporate veil".

@chemoelectric @dangillmor I do wonder whether Twitter is at risk of having its corporate structure invalidated and being treated as a sole proprietorship?

If Twit** collapses there will be enough outstanding debt to induce a lot of people to ask that question and try to reach Musk's other assets (such as Space-X & Tesla.)

#law #twitter #corporations

@karlauerbach @dangillmor Which brings up for me that Musk is treated by the media as a serious space guy, and they haven't even noticed he was silent about the Artemis 1 mission.

Musk doesn't give a darn about space, and SpaceX employees probably really answer only to NASA and other gov't agencies, not Musk. Otherwise the rockets wouldn't work.