If I buy stock in the sovcorp, who protects my property rights? The sovcorp? The sovcorp is run by executives. Why would they not simply, essentially, steal the corporation?

There are cryptographic solutions to this problem: Suppose the stock/money of the corporation consists of crypto signatures. You can use threshold signatures to make heavy weapons only work for the leader most recently authorized by a majority of the board most recently authorized by majority of shareholders.

Of course the leaders could furtively @#$%^ the crypto in the heavy weapons but then democratic leaders can, and regularly do, furtively @#$%^ the vote.

Indeed, it is probably easier to @#$%^ the vote than the crypto, since most voters are idiots, and any one vote is not worth much, but most shareholders are smart, and the votes of the most important (and powerful) shareholders are worth quite a lot, so there are more concentrated interests upholding the integrity of the crypto, than the integrity of the democratic vote.

My objection is that Moldbug's solution ignores the dynamics of ruling elites - but then so does democracy.