What does "oversight" mean?

Native speaker’s answer
Rebecca
Here, "oversight" means the action of overseeing something or someone, similar to supervision or management. Since Elon would own quite a large amount of the company, he wouldn't need guidance or approval from people. "Oversight" can also mean unintentionally failing to notice something. Ex: There was a small oversight on the contract draft, so we're fixing it. Ex: The kids won't need any oversight this weekend. They're old enough to take care of themselves. Ex: Who's the project overseer?