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

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

#211

Post by sorcerer-mar »

LanceJones wrote: post #125
mingus88 wrote: post #87

Earlier quoted context omitted.

Yeah these fantasies where musk would somehow go bankrupt by tanking Tesla and overpaying for Twitter were also wild He’s literally the richest person the earth has ever known. He’s never going to suffer financially. He has countless levers of power he can pull. The same fantasy applies to any past or current president ever spending a day in jail. He literally commands the most powerful military apparatus the world h…

He only holds ~15% of Tesla. His real money is in SpaceX... 50% ownership there. I wish people would think just a little before parroting the "hit Musk where it hurts" drivel.

At the rate he's going, SpaceX is probably on its way to being nationalized within the next few elections.

And that would make sense totally aside from punitive response: it is pretty dangerous to have such vital defense infrastructure controlled by such a mercurial personality.

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

#212

Post by throwaway5752 »

CSMastermind wrote: post #156
throwaway5752 wrote: post #52

I'd feel great being someone that financed the takeover of X/Twitter, and being stuck with inflate shares in an also-ran AI play. Obviously there is no rule of law for Musk, and no recourse for them. He'll keep his ball of twine rolling past TSLA's next earnings date on April 22nd.

What makes you think xAI will be an also ran? Grok 3 is right up there with SOTA models and the time in which they trained it was fairly impressive. Seems like they have as good of a shot as anyone at capturing the market.

Because it is run by Elon Musk, and he hasn't shown any sign that he's no longer good any running things. His successful endeavors are the ones he neglects.

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

#213

Post by deeth_starr_v »

thanhhaimai wrote: post #136

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 i…

This is my feeling too. Good chance of a margin call coming for all his loans backed with TESLA shares

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

#214

Post by dmix »

bradleyjg wrote: post #131
gruez wrote: post #102

Earlier quoted context omitted.

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.

Private companies buying private companies is not heavily scrutinized in general by states, even in Delaware, especially non-public deals with no antitrust issues. The primary risk is stakeholders going through a state court if the company didn't follow standard rules.

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

#215

Post by trhway »

w10-1 wrote: post #168

"This will allow us to build a platform that doesn’t just reflect the world but actively accelerates human progress" You get to pick winners AND be protected by section 230 of the Communications Decency Act from liability for anything said on the platform. Stockholder privacy is protected by law; they could be Russian, Saudi, Chinese, North Korean crypto-currency hackers; CIA; friends of friends, mom and pop, whomeve…

>You get to pick winners AND be protected by section 230 of the Communications Decency Act from liability

That should be, and i thought was, prohibited. Either you're a common carrier (and protected as such) or you're editorializing. Unfortunately the enforcement seems to be lacking more and more, and that even without considering that Musk is probably not subject to any enforcement these days.

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

#216

Post by _ea1k »

There's a lot of negativity here, but tbh, it makes complete sense. Grok and X are really tightly integrated already, and it was strange that they were separate enterprises to begin with. That part was odd.

Fixing it isn't odd.

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

#217

Post by netsharc »

CamperBob2 wrote: post #153
miohtama wrote: post #139

Earlier quoted context omitted.

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

"Nice bank you've got there. Would be a shame if ________" (Insert any number of orders that Musk can have his friends in the executive branch issue to make life miserable for the bank principals.) It's good to be the king. Even better to own him.

That makes me think of Jakob Fugger. He was so rich the pope borrowed money from him to build St. Peter's Basilica. And they got so desperate to pay it back they started selling indulgences, pissing off one Martin Luther and creating Protestantism: https://theconversation.com/the-man-who-gave-us-the-reformat...

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

#218

Post by saltysalt »

swat535 wrote: post #206
saltysalt wrote: post #147

Earlier quoted context omitted.

I take your point, however an AI company owning a social media platform is new.

Sam owns Reddit and OpenAI.. how is that new? Google also owns Gmail and all Google Services , as well as its AI.

OpenAI does not own a social network. Google doesn't even own a social network anymore.

Neither are valid comparisons to xAI owning X.

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

#219

Post by calmworm »

knicholes wrote: post #152
Henchman21 wrote: post #133

Earlier quoted context omitted.

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.

I argue that he's literally showing us how high we can go with SpaceX.

In what way though? I’ve yet to see anything that rivals any accomplishments by NASA. Or were you being punny?
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