TESLA/SPACEXSI The Special Committees have already been formed. But some don’t understand the ramifications. ♦️Some say the Special Committee has been formed, so do nothing. BUT The Special Committee represents us shareholders. They can guess what we think, OR we could just tell them. Thousands of shareholders chose the latter and signed the Letter to ask for expeditious action. Inaction was costly to Tesla in losing out on xAI, we don’t want that to happen again. ♦️Some assume a deal is a given. Elon Musk specifically said it is not a given on the SpaceX earnings call. ♦️Some debate timing. It is NOW - or NEVER. The special committee was already formed. That ship SAILED. There won’t be special committees again. Failed merger attempts are just that, failed. ♦️Some ask us to dictate terms. Even Elon Musk had to let the normal process work - and can’t dictate terms or timing or share exchange ratios. And he founded both companies. We can’t either. But we can, and did, ask that the ATH, and internal growth & revenue targets for Optimus & CyberCab be considered. ♦️Some say operate separately. BUT The Joint Ventures aren’t meant to be permanent. They are pure bureaucracy, friction and liability. They were a framework that achieved a headstart on what talented engineers from both companies can do together. They are now the unnecessary part to be deleted. Elon Musk doesn’t need to work at all. His time should not be spent in conflict committees. ♦️Some say do nothing. See again: You could let the Board guess, or you could just tell them shareholders are in favor. 50% + 1 of outstanding shareholders is an almost IMPOSSIBLY high bar. Broker non-votes count as NO. Many foreign investors can’t vote. The deal terms HAVE to be extremely compelling to turn undecided investors and institutions into YES VOTES. The Special Committee, and M&A Bankers/Lawyers have a fiduciary duty to gain the best terms they can. A letter doesn’t change a share exchange ratio. A letter says that shareholders will mobilize - in the face of an compelling deal -to get over 50% outstanding shares voting in favor and get the deal over the line.