CEOs are increasingly demanding ratcheted, valuation-based compensation packages that grant massive ownership stakes to maintain control.

58:42completed an equity round which I read somewhere I haven't verified it. It was the first time they raised equity since like they went public in 79. In other words, they've been profitable from cash flow and returning capital like a real company is meant to for the 80s, the 90s, the 2000s, the 2010s, right? And now the AI capex boom plus obviously their deteriorating performance has said it's time to access the capital markets

59:05again. While we're on Elon Musk, Elon Musk did have a very unusual incentive package where his obviously expanded with the expansion of company valuation. Revolute announced an incentive package to the CEO or it was leaked um whereby it basically ratcheted it up with different um prices of the company um he'd get another I think 5 to 7% at 200 billion and then he ultimately at 500 billion would have circa 39 to 40%.

59:36Is this the new norm and should every CEO be asking for rated incentive packages alongside valuation bumps? It's not going to be the new norm and if it is logically stock prices should go down by 10 or 15%. Because I mean what you're basically saying I mean I I read the I saw the I read what's available about the package and you know the first question is multi-year packages and you

60:00know with incentives around market cap and you know in other words significantly beyond the normal um CEO comp that's been a thing it obviously worked for Elon in the first the 2018 Tesla package and obviously after a lot of twoing and throwing he got another package just recently finally approved after they moved to Texas. So they're not quote the norm, but they do h they are put in place for reasons we'll come