One is hitting its numbers; the other keeps missing expectations. One is raising money at an ever-rising valuation; the other has been pummelled by the market. One has a highly capable No 2 executive keeping it on track; the other is under fire about succession planning.

Space Exploration Technologies and Tesla both count Elon Musk as CEO. But whereas Tesla has withered since the boss embarked on his takeover of Twitter, SpaceX is flourishing — some even suggest that this is because of, rather than in spite of, its CEO playing a less active role...

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