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

Post by jimt1234 » Fri, Mar 28, 2025, 11:57 PM UTC

Workaccount2 wrote: post #160

rco8786 wrote: post #129

Earlier quoted context omitted.

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

Trump pardoned Trevor Milton today, who scammed investors out of millions doing things like his now infamous "rolling a truck down a hill to make it looks functional" demo. Milton donated $1.8M to Trump, and Miltons lawyer's sister is Pam Bondi, the Attorney General. This is nakedly corrupt and a strong signal that you can get away with all manner of financial fuckery if you are on Trumps "good list".

Post by defrost » Fri, Mar 28, 2025, 11:57 PM UTC

mandeepj wrote: post #207

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…

> Even a sliver of that capability and influence ensures nobody will ever dare to try and slap some cuffs on him After 2028 elections, all of that umbrella cover will go away. Optimistically speaking it could happen as soon as after Nov of 2026 (midterms).

  The sweeping 12-page order contains a number of provisions, including a documentary proof of citizenship requirement to vote in federal elections as well as a requirement that all ballots be received by Election Day – both of which fall outside of the executive branch’s authority to mandate. 

  But, there’s also a section, buried deeper in the order, that, if implemented, would give Trump’s Justice Department the authority to pick and choose what states get federal funding for election administration. It would require states to loop the DOJ in on supposed violations of election law that it encounters. But it also mandates that basic information about voter roll maintenance be shared with the DOJ as well.   

  If states are unwilling to enter into what is referred to as an “information-sharing agreement” with the Attorney General regarding “suspected violations of state and federal elections laws,” the Attorney General is allowed to withhold grants and other funds from those states, the executive order says.

Post by Alive-in-2025 » Fri, Mar 28, 2025, 11:58 PM UTC

TheAlchemist wrote: post #305

dzhiurgis wrote: post #269

Earlier quoted context omitted.

I’m guessing Tesla is paying xAI to train their FSD model?

That would be a shocking conflict of interest - a public company paying a private company, which is owned by the CEO of the public one ? All while the same CEO claims that the public company is the leader in the field ? Even by Tesla & Musk lawlessness standard that would be too wild.

Post by _ea1k » Fri, Mar 28, 2025, 11:58 PM UTC

whats_a_quasar wrote: post #258

_ea1k wrote: post #216

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.

The negativity is because he's using investor money in xAI in a related party transaction. He's negotiating both sides of the sale and it's not at all obvious the transaction price is a good or real price for Twitter. It may make sense to merge the two, but this is an unethical way to make a deal and I think it is likely the xAI investors are getting screwed.

Post by Alive-in-2025 » Fri, Mar 28, 2025, 11:59 PM UTC

imgabe wrote: post #329

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.

But all the armchair business experts assured me that the value of Twitter had completely tanked since Elon bought it because he’s such a stupid fool who ruins everything, so shouldn’t it be worth less? Just a few months ago everyone was confident it was only worth $8 billion. He valued it at the same price minus debt.