xAI has acquired X, xAI now valued at $80B • Hacker News Board

Re: xAI has acquired X, xAI now valued at $80B

#131

Post by bradleyjg » Fri, Mar 28, 2025, 10:38 PM UTC

gruez wrote: post #102

mayneack wrote: post #75

Earlier quoted context omitted.

Surely a theoretically disgruntled xAI shareholder is going to have a harder time here since they're both private companies and given Elon's proximity to any potential regulators.

Company directors are generally given wide latitude in what they can do without breaching fiduciary duty, so such lawsuits were always going to be an uphill battle.

An acquisition is a special case (for the company being acquired) and the scrutiny is somewhat higher.

At least in Delaware. I have no idea what corporate law is like in Texas.

Re: xAI has acquired X, xAI now valued at $80B

#132

Post by mullingitover » Fri, Mar 28, 2025, 10:38 PM UTC

dmurray wrote: post #124

threeseed wrote: post #54

Earlier quoted context omitted.

It is not unreasonable to assume Tesla shares will continue to decline whilst: a) sales internationally are plummeting at such a rapid pace b) consumer confidence is down with predictions of a looming recession c) the brand continues to be tarnished by the association with Musk and Trump d) auto tariffs will increase the costs of parts and the likelihood of reciprocity

Why would they continue to decline? If all that information is already known, why isn't it priced in and why isn't the best estimate of Tesla's price in 6 months equal to today's price plus the return of Treasuries?

The consequences of the known mismanagement is priced in. The consequences of the unknown mismanagement are tbd.

Re: xAI has acquired X, xAI now valued at $80B

#133

Post by Henchman21 » Fri, Mar 28, 2025, 10:38 PM UTC

saaaaaam wrote: post #48

So he just sold himself a company he already owns for a valuation that he himself assigned to that company but that was less than what he paid for it, and he paid entirely using “money” that has a made up value and which he issues himself? Wild.

Its almost like modern life is riddled with lies, liars, and their collective bullshit.

I don’t think this is a change in the human condition; we’re extremely greedy hairless apes. But guys like Elon really show how low we can go.

Re: xAI has acquired X, xAI now valued at $80B

#134

Post by SV_BubbleTime » Fri, Mar 28, 2025, 10:39 PM UTC

saltysalt wrote: post #118

X users are now officially just training data for Grok.

As opposed to Reddit? Or your Gmail? Or everything else on the internet?

Re: xAI has acquired X, xAI now valued at $80B

#135

Post by nerdix » Fri, Mar 28, 2025, 10:39 PM UTC

ZeroGravitas wrote: post #92

Who is he going to merge the US with after he fucks that up?

Canada and Greenland

Re: xAI has acquired X, xAI now valued at $80B

#136

Post by thanhhaimai » Fri, Mar 28, 2025, 10:39 PM UTC

This move makes it more likely that the internal number for TSLA is not good, and Elon is expecting the price to go down.

He has access to the real revenue number. If it's going well, he wouldn't have to perform this maneuver. xAI was relatively separated from X and TSLA, and wasn't having the backlashes associated with the two. Now he risks having the xAI branding tarnished too. He wouldn't do this unless the TSLA internal numbers are bad and he has to protect himself first, at the cost of xAI brand.

Re: xAI has acquired X, xAI now valued at $80B

#137

Post by mdhb » Fri, Mar 28, 2025, 10:39 PM UTC

justanotheratom wrote: post #59

xAI's mission is to "understand the universe". Not sure how that aligns with X.

This is marketing speak for collective as much data on people as possible. It’s a surveillance company masquerading as an “AI” one.

Re: xAI has acquired X, xAI now valued at $80B

#138

Post by bloppe » Fri, Mar 28, 2025, 10:40 PM UTC

threeseed wrote: post #54

ivewonyoung wrote: post #41

Earlier quoted context omitted.

Tesla shares are higher than when Twitter was acquired. 'Continues to decline' sounds like weasel wording that the media likes to use to push a narrative that doesn't exist. Edit: Comment flagged for pointing out inconvenient facts, it's wild out there

It is not unreasonable to assume Tesla shares will continue to decline whilst: a) sales internationally are plummeting at such a rapid pace b) consumer confidence is down with predictions of a looming recession c) the brand continues to be tarnished by the association with Musk and Trump d) auto tariffs will increase the costs of parts and the likelihood of reciprocity

You forgot to mention that China, Vietnam, Thailand, and Indonesia are all betting big on EV production. China is of course the main competition, but it's telling just how stiff the competition is getting across the board. BYD is currently making more cars than Tesla, with more advanced battery technology and comparable build quality, for a fraction of the price of any Tesla.

Meanwhile Elon is too busy rage-tweeting and K-holing to work on any of the things Tesla promised it would do this year, like release a model 2 or something with robots

Re: xAI has acquired X, xAI now valued at $80B

#139

Post by miohtama » Fri, Mar 28, 2025, 10:40 PM UTC

rco8786 wrote: post #129

saaaaaam wrote: post #48

So he just sold himself a company he already owns for a valuation that he himself assigned to that company but that was less than what he paid for it, and he paid entirely using “money” that has a made up value and which he issues himself? Wild.

And then will leverage against that valuation for loans, acquisitions, etc. Self dealing. Nobody cares anymore.

Good luck trying to get a bank to underwrite that loan, smells a bit risky.

Re: xAI has acquired X, xAI now valued at $80B

#140

Post by foobarqux » Fri, Mar 28, 2025, 10:40 PM UTC

enslavedrobot wrote: post #123

foobarqux wrote: post #106

Earlier quoted context omitted.

Putting aside the fact that you can't justify fraud by post-hoc outcomes (Shkreli and SBF also claimed that they didn't commit fraud because they would or did win it back), I doubt any of the Tesla Energy division income (even assuming the accounting is okay) is a result of businesses that can be traced back to Solar City. I suspect most of the business is battery storage and the Powerwall was introduced by Tesla bef…

The vertically integrated Tesla strategy is to use batteries to arbitrage the value of stored energy. This is well described in the Tesla "Master Plan" documents. Solar is a huge part of this. According to the company filings the solar assets Tesla acquired are still generating revenue at the rates projected during the acquisition.

Well I trust Elon's statements (even the financial statements) as far as I can throw them but can you point out where it says that? I'm searching the 10-K and I don't see solar broken out.

But even if it's true I assume they are including their utility-scale solar and battery packs, which has nothing to do with Solar City: the panels are generic, the customer lists are not residential, they don't use the fancy shingles. Solar City did not help them in any way with these getting or fulfilling these contracts.