{"id":1991,"date":"2026-06-12T09:24:09","date_gmt":"2026-06-12T09:24:09","guid":{"rendered":"https:\/\/silvybrand.com\/?p=1991"},"modified":"2026-06-12T09:24:09","modified_gmt":"2026-06-12T09:24:09","slug":"spacex-is-now-a-public-company","status":"publish","type":"post","link":"https:\/\/silvybrand.com\/?p=1991","title":{"rendered":"SpaceX IPO Puts Elon Musk\u2019s \u2018Extreme\u2019 Ownership to the Test"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<p><span class=\"lead-in-text-callout\">Brian Manning encountered<\/span> SpaceX\u2019s culture of extreme ownership from day one as an engineer at <a href=\"https:\/\/www.wired.com\/tag\/spacex\/\" class=\"text link\">the rocket maker<\/a>. After a one-hour onboarding session a decade ago, he got his first assignment: Design a small part by the next day. \u201cThe way I looked at it is having very clear responsibility, autonomy, and accountability,\u201d says Manning, who aced the task and spent about two years at the company. \u201cRather than hiring people and telling them how to do it, they give people full ownership to make things happen.\u201d<\/p>\n<p class=\"paywall\">The principle has served SpaceX and its cofounder and CEO Elon Musk well. No company has delivered more to space. It\u2019s also become the leading satellite internet provider while achieving once unthinkable aeronautical feats, including reusing key parts of its rockets. This week, SpaceX raised $75 billion by selling shares to investors in an <a href=\"https:\/\/www.wired.com\/story\/why-spacex-is-finally-gearing-up-to-go-public\/\" class=\"text link\">initial public offering<\/a>. That\u2019s nearly three times more than any company has brought in from an IPO.<\/p>\n<p class=\"paywall\">The record IPO haul reflects investor excitement for SpaceX\u2019s near-term goals such as building data centers in space and its long-term mission of establishing a permanent human settlement on Mars. But it also suggests a big bet on Musk and the company\u2019s longstanding ethos of extreme ownership.<\/p>\n<p class=\"paywall\">Musk holds 85.1 percent of the voting power of SpaceX, and most of the company\u2019s board members are his long-time allies. The only way he can be removed as CEO is if he votes to fire himself. <a href=\"https:\/\/www.wired.com\/story\/activists-call-for-boycott-of-spacex-ipo\/\" class=\"text link\">Some skeptical investors<\/a> have slammed these provisions as \u201cnovel and extreme\u201d because they strip shareholders of oversight and make it nearly impossible to hold Musk accountable.<\/p>\n<p class=\"paywall\">But taken another way, the governance structure is the ultimate expression of the extreme ownership mantra that has taken SpaceX from a handful of engineers in a Los Angeles\u2013area warehouse in 2002 to over 22,000 employees staffing the world\u2019s most dominant rocket company today. Many companies such as Apple and Google imbue their workers with significant responsibility, but several people who have worked at other tech and aerospace ventures in addition to SpaceX say the company\u2019s approach is something more.<\/p>\n<p class=\"paywall\">\u201cAt SpaceX, you really own a product cradle to grave,\u201d says a former employee who started at the company in 2009 and spent about six years overseeing some of its software. \u201cI knew if software didn\u2019t work, it was my own damn fault. It\u2019s letting experts make expert decisions for good or for worse, and it worked out most of the time.\u201d<\/p>\n<p class=\"paywall\">The engineer, who requested anonymity to recount sensitive discussions, says they saw Musk demonstrate the principle on many occasions, including a meeting during which the CEO teared up for having allowed a key project to run significantly behind schedule. \u201cWe\u2019re never going to get to Mars if this is what we accept,\u201d they recall Musk saying about the delay. They believe the team leaders in the room took it as not just a rallying cry to get back on track, but also an instillment of trust and authority instead of going \u201cfull-on micromanagement.\u201d<\/p>\n<p class=\"paywall\">Laura Crabtree, who joined SpaceX in 2009 as one of its first 600 employees and spent a decade there, believes the extreme ownership concept emerged because hires received equity in the company\u2014which hadn\u2019t happened at the traditional aerospace firms they\u2019d come from. Being part owner made employees more invested, and that feeling kept proliferating over time.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.wired.com\/story\/spacex-is-now-a-public-company\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brian Manning encountered SpaceX\u2019s culture of extreme ownership from day one as an engineer at the rocket maker. After a one-hour onboarding session a decade ago, he got his first assignment: Design a small part by the next day. \u201cThe way I looked at it is having very clear responsibility, autonomy, and accountability,\u201d says Manning, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[168,79,80,571,81],"class_list":["post-1991","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gadgets","tag-elon-musk","tag-ipos","tag-spacex","tag-stocks","tag-xai"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SpaceX IPO Puts Elon Musk\u2019s \u2018Extreme\u2019 Ownership to the Test - Silvybrand Lifestyle Blog<\/title>\n<meta name=\"description\" content=\"The rocket maker debuts on Nasdaq today under a wave of criticism about Musk\u2019s near-absolute control. 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