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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

#631

Post by kelnos »

nmisty920 wrote: post #582
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…

I have no opinion about Musk or Trump. I just want to give counter-examples to your claims: Saddam Hussain, Mussoloni, Ceausescu. At the peak of their power, they all seemed untouchable. Would they even have thought, when they were ruling their countries, that one day their fortunes would turn? Quoting Gandhi: "There have been tyrants and murderers, and for a time, they can seem invincible, but in the end, they alway…

I think if we look around the world we can find plenty of counterexamples to Ganhi's quote.

Sure, they always "fall" in the sense that they're not immortal and they'll eventually die, but it's often (usually?) the case that a family member or some sort of protege steps up to fill their shoes.

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

#632

Post by SilasX »

nmca wrote: post #358
rayiner wrote: post #326

Earlier quoted context omitted.

Lawsuits can fail for lots of reasons without a decision on the merits. It seems relevant that the reason the lawsuit failed is because the court looked at the fairness of the transaction and determined that Tesla paid a fair price.

This whole thread is true consistent statements that differ only in emphasis.

That’s generous. One party is stubbornly missing that the Delaware court’s ruling is weak evidence of a proper valuation having been done, but wants to parrot an irrelevant textbook understanding that obfuscates that conclusion.

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

#633

Post by kelnos »

ben_w wrote: post #260
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’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. Just being rich doesn't mean he's got all the power to stop that: https://en.wikipedia.org/wiki/Bernie_Madoff Him being a Trump associate is a lever, but not a financial one… unless and until they have a falling-out. I'd be surprised if that's any less than 6 months away,…

> unless and until they have a falling-out. I'd be surprised if that's any less than 6 months away, or more than 3 years away.

That's the other thing: Trump's tastes and whims are super fickle. Trump and Musk have already clashed on a bunch of things, and there's no reason to believe that won't continue and/or get worse. And Trump's priorities could change, without a corresponding shift in Musk's.

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

#634

Post by kelnos »

bmitc wrote: post #600
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…

Is he really rich? He started a car company, one that is known to make shit cars. All of their big bets failed. So what was supposed to be "not just a car comoany", which is what all the insane valuations were based on, is now "just a car comoany" and a shit one at that. So why is this car comoany still valuated at such insane hype levels? Is his wealth not entirely tied to the hyper-valuation of this car company?

> He started a car company, one that is known to make shit cars.

No he didn't. He was an early investor in a car company, eight month after it was founded, and later history-revised his way into a founder title.

Not that this should be surprising, considering the childish ego on that man.

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

#635

Post by kelnos »

Alupis wrote: post #474
lz400 wrote: post #457

Earlier quoted context omitted.

IMHO the US is turning into an oligarchy / autocracy like Russia. Musk is one of the oligarchs. We all know what happens to oligarchs when they get too close to eclipse the top dog and go near a window.

[flagged]

I don't think that word means what you think it means. That's not what an oligarch is.

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

#636

Post by kelnos »

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.

His 15% of Tesla is heavily borrowed against, and if Tesla's share price drops too far, he's gonna get margin calls. That will both destroy his wealth, and hurt Tesla's stock price even more.

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

#637

Post by kelnos »

fallingknife wrote: post #255
sorcerer-mar wrote: post #211

Earlier quoted context omitted.

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.

Yes let's just have a fascist government that can seize private property because they declare it "dangerous." I see no way that could go bad.

Is it a "fascist government seizing private property" if Congress votes to nationalize a company, as is laid out in law, and the president signs the resulting bill into law?

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

#638

Post by solean »

bmitc wrote: post #600
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…

Is he really rich? He started a car company, one that is known to make shit cars. All of their big bets failed. So what was supposed to be "not just a car comoany", which is what all the insane valuations were based on, is now "just a car comoany" and a shit one at that. So why is this car comoany still valuated at such insane hype levels? Is his wealth not entirely tied to the hyper-valuation of this car company?

Is spelling "company" really that hard?

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

#639

Post by chrisco255 »

echelon wrote: post #583
intuitionist wrote: post #379

Earlier quoted context omitted.

The outside investors in X made a profit on paper; Twitter was bought for $44B but the deal was financed with like $31B in equity and $13B in debt. It’s not a big profit (in fact it’s worse than you would have done in T-bills), and of course they’re swapping one illiquid and hard-to-value asset for another, but Elon isn’t giving them a 25% haircut at all.

Even if he made the Twitter investors whole, I wonder how the investors in xAI feel.

They're mostly the same investors.

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

#640

Post by FabHK »

brians wrote: post #313
eightysixfour wrote: post #283

Earlier quoted context omitted.

> He’s literally the richest person the earth has ever known This is arguable in real terms.

Yeah. He’s not even the richest African emmigrant… because Mansa Musa tipped so heavily he broke intercontinental trade dynamics.

Thanks for that factoid, interesting piece of history.
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