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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

#861

Post by toolz »

DannyBee wrote: post #796
chairmansteve wrote: post #627

Earlier quoted context omitted.

How's Solar City doing now? Not sure the court was capable of that judgement.

Exactly why do you believe a court that does exactly this kind of judgement all the time is not capable of it? They issued a 127 page supporting decision on why they found it was a fair process that generated a fair price. Want to say which part you take issue with that shows it was not capable of the judgement? FWIW - I actually hate tesla, i just also hate the sort of drive by shitting on other fields that HN seems…

you hate the company or the product? How does someone hate a company the open sourced all of their patents which resulted in creating a ton of competition in a previously dominated market?

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

#862

Post by geertj »

jeff_carr wrote: post #810
minwcnt5 wrote: post #199

Earlier quoted context omitted.

This also lets all of his co-investors in X, who were likely pissed that their shares tanked, exchange their shares at an inflated value (but one that still sees them losing 25% of their original investment) for shares in a trendy yet likely overvalued AI company that they consider to have more upside. The other part of this is that if TSLA stock drops to $100-ish he'll be at risk of being margin called on the loans…

> This whole thing seems like a big pyramid scheme. That's because his scam of charging $8k over the price of a Tesla for "self driving" was complete vaporware. It never worked and it never was going to work. I am disappointed I fell for it. There should be a class action lawsuit against TESLA for everyone that purchased the $8k self driving "feature". We were all told it was "being rolled out". It was a total lie.

You must not have tried FSD 13.x with AI4 hardware. I commute to work every day from the suburbs to the city with a ~25 min one-way commute with zero disengagements.

Edit: Elon mentioned in the last earnings call that if you are on AI3 hardware and bought FSD that they will have to upgrade you free of charge to AI4.

Edit 2: To clarify, FSD 13.x is only available with AI4 hardware.

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

#863

Post by crackrook »

nprateem wrote: post #710
mandeepj wrote: post #207

Earlier quoted context omitted.

> 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).

If you don't believe he'll find a way to get a third term like every other dictator, you're living in a fantasy.

Do you truly believe this will happen? I know these are crazy times but the idea of a then-82 year old man realizing a third term for himself seems a little absurd to me. Or do you mean this in a less literal sense, e.g. in the sense that he'll get a figurative "third term" by handing the reigns over to someone in his club without a fair election?

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

#865

Post by xandrius »

torginus wrote: post #818

How the hell does this work?? I have five dollars in a box, and I buy a different box, also known to have five dollars in it, for the $5 in the first one. Now, according to this logic, I have a portfolio worth $10, since I still have the original box, worth $5 and the new one, also worth $5. If I tried this at a gas station, I would be arrested if I got caught.

It's more like:

I have a box with $5 and you have a box with $5. We agree to merge our boxes into one and now we both have 1 box with $10.

Plot twist: me and you are the same insane person.

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

#867

Post by SideQuark »

DoesntMatter22 wrote: post #680
kelnos wrote: post #601

Earlier quoted context omitted.

As the sibling pointed out, private companies don't have stock prices. But I've read estimates that Twitter is worth less $10B now, so less than a quarter what Musk paid for it.

The banks just recently did a debt sale of a lot of that debt close to list price, so 44 billion dollar valuation is probably reasonable. Apparently the company is profitable now, sans the debt, so as long as it doesn't go out of business and can grow on other fronts then it's probably not a problem.

Can you list this sale you claim valued X at 44B?

Fidelty, which still owns a decent chunk of X, and is required by law to do due diligence on the value of that holding, and also has deeper insight into the value of X since they are also required to see X financials (since they own a big chunk of the private value), puts X value at 20% of the original 44B.

So please demonstrate your claims.

https://www.forbes.com/sites/tylerroush/2024/09/30/elon-musk...

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

#868

Post by nathancahill »

hsnewman wrote: post #864

Valued by who? I have a overvalued company I'll buy with another overvalued company. This should be illegal, but it's a house of cards.

The whole US economy is. Take one step outside the US and it's apparent what a house of cards it is.

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

#869

Post by pjdemers »

haliskerbas wrote: post #841
bhouston wrote: post #29

He has done this move before with Tesla buying Solar City. When you do a deal with yourself you can assign any value you want to assets, it isn’t a competitive process. In the previous case Solar City was dying but its acquisition by Tesla was pitched as a great synergy. https://www.businessinsider.com/solarcity-tesla-energy-belea... There were a few lawsuits from Tesla shareholders about the acquisition regarding se…

I thought self dealing was usually illegal. I can’t sell my family member my house for $1 for example. But you can do the same thing with companies?

I know for certain that in Virginia you can sell a house for any price you want, because I transferred one to a family member for zero. Of course the county's assessor had other ideas about the value for tax purposes, but the official deed was recorded at $0.
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