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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

#481

Post by CamperBob2 »

XorNot wrote: post #209
CamperBob2 wrote: post #153

Earlier quoted context omitted.

"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.

Case in point: https://apnews.com/article/trump-law-firm-mueller-fc64fcda09... > A prominent international law firm reached a deal with President Donald Trump on Friday to dedicate at least $100 million in free legal services and to review its hiring practices, averting a punishing executive order like the ones directed at nearly a half-dozen other major legal institutions in recent weeks. This isn't theoretical. It'…

Exactly, that was the case I had in mind.

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

#482

Post by nout »

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.

All money is made up. The banks literally "lend" money into existence without having it backed by anything, the banks don't need to have the money in the first place, the bank reserve requirement has been dropped to 0% in 2020.

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

#483

Post by justin66 »

stingrae wrote: post #228
justin66 wrote: post #113

When all is said and done, did the banks that helped finance Musk's original acquisition of Twitter get their money back?

they get stock in xAI

Please cite your sources.

(edit: Bloomberg says the banks unloaded their shares earlier this year, reportedly "without taking a loss")

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

#484

Post by [deleted] »

Zigurd wrote: post #419
rayiner wrote: post #80

Earlier quoted context omitted.

Tesla bought Solar City for $2.6 billion, and now it looks like the Tesla Energy division had about that much in net income last year alone.

None of that is solar roofs. That product never worked. It's nearly all batteries. The Solar City was worthless and it hasn't improved.

[deleted]

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

#486

Post by pclmulqdq »

mcphage wrote: post #465
pclmulqdq wrote: post #238

Earlier quoted context omitted.

No X shareholder in their right mind will object to getting a $45 billion valuation (including debt) when their latest valuations have the company at <$10 billion.

What about an xAI shareholder who just paid $45 billion for a bag of rotten turnips?

I don't think there are that many of them, and I think most of them are very much under the "Musk" spell. This would be the party to sue to block this deal, and it seems unlikely that they will.

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

#487

Post by kylestlb »

zozbot234 wrote: post #126
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…

That military apparatus is sworn to uphold the Constitution, not support the current president.

Funny.

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

#488

Post by pclmulqdq »

Alupis wrote: post #470
pclmulqdq wrote: post #238

Earlier quoted context omitted.

No X shareholder in their right mind will object to getting a $45 billion valuation (including debt) when their latest valuations have the company at <$10 billion.

Those valuations are all bs though. They are hinged on traffic estimates and ad revenue. X is clearly worth a lot more than just it's revenue would indicate. What is the most influential social media site worth? Perhaps all of the money in the world...

Well, I would have suggested that you put your money where your mouth is and buy out Fidelity et al, but it looks like you're off the hook for that statement.

However, secondary markets for these megacorps are relatively liquid, so the valuations are not actually completely baseless.

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

#489

Post by mingus88 »

whats_a_quasar wrote: post #315
zozbot234 wrote: post #126

Earlier quoted context omitted.

That military apparatus is sworn to uphold the Constitution, not support the current president.

The commenter also included past presidents, which is silly. Once a president is a past president, he no longer controls that military apparatus.

The U.S. will never allow any former president to get prosecuted because the precedent is too severe.

By all reasonable accounts, GW Bush should have been prosecuted for war crimes. Trump should have been prosecuted the moment he left office for a spectrum of crimes. There is even a strong argument that Obama should have been prosecuted for drone strikes on citizen combatants.

But power protects power, and the moment that seal is broken all hell breaks loose amongst the ruling class.

How many people were held accountable for the 2008 crash? Zero. That would mean everyone else has to stop their criming too.

Who knows, maybe Trump is stupid and petty enough to take revenge on his enemies. If he does, no doubt his entire administration is the next against the wall as soon as the winds change.

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

#490

Post by selectodude »

no_wizard wrote: post #316
whats_a_quasar wrote: post #272

Earlier quoted context omitted.

As best I can tell the deal includes paying off $12 billion of Twitter debt. So that's real money, though that seems like it's basically all of the cash that xAI has raised, so if that's the case that's pretty wild. Edit: I misread, Musk said it's an all-stock deal, so you're right, it's all funny money. I think that means the combined entity is taking on that debt. It's still great for Twitter and bad for xAI invest…

Every time I see deals like this that are going to be such raw deals for the majority of those who invested it feels like a keen reminder that all the talk of market efficiency the pro caps in Washington talk about are full of it This is a terrible and inefficient use of money. It’s inevitable that this paper house will fall over

Markets are plenty efficient. They’ve just lit billions of dollars on fire that used to belong to people stupid enough to believe in Elon Musk.
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