X factor: Elon Musk himself. And not just the part about him seeking to simultaneously run two of the world’s most valuable companies.
Musk hasn’t been part of an IPO since Tesla in 2010. At the time, he was fairly quiet on social media. In fact, his first-ever tweet was just a couple of weeks earlier.
Today’s Musk may struggle to comport with rules about what company insiders can and can’t say once the IPO process begins. For example, Google’s IPO was almost waylaid by comments its cofounders made in a Playboy interview.
On the other hand, the current Securities & Exchange Commission is lax when it comes to enforcement, and Musk is (usually) friendly with the boss’ boss. Plus, there are reports that the two sides are preparing to settle a dispute over Musk’s alleged violation of securities law in 2022.