Earlier quoted context omitted.
Sorry to disappoint you, but it means "I am not a lawyer"
Then there must be a UANAL
Being actively not a lawyer.
xAI has acquired X, xAI now valued at $80B
971–980 of 1001 posts
Re: xAI has acquired X, xAI now valued at $80B
#972Earlier quoted context omitted.
To put it in perspective, over the past 6 months TSLA has performed as well as META and much better than GOOG and MSFT.
That's true, and in the last two months it's done worse than all of those put together!
even despite the white house showroom ad, no less
Re: xAI has acquired X, xAI now valued at $80B
#973> Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world
Am i behind the moon because i haven't heard of xAI?
Re: xAI has acquired X, xAI now valued at $80B
#974Earlier quoted context omitted.
350b USD buys 350kT of gold. I suspect that many zeros were unheard of in pre industrial times, making most hundred billionaires richer than Mansa Musa even in absolute terms.
> 350b USD buys 350kT of gold No it doesn’t - that much gold hasn’t been mined in the history of humanity. Gold is not a good metric for comparing this across history.
That's the whole point. 350b is an enormous amount of buying power
Re: xAI has acquired X, xAI now valued at $80B
#975Re: xAI has acquired X, xAI now valued at $80B
#976So 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.
He valued it as the price he made another company value it.
Do you understand where money comes from, cause Elon and you seem to not understand.
Re: xAI has acquired X, xAI now valued at $80B
#977When all is said and done, did the banks that helped finance Musk's original acquisition of Twitter get their money back?
Recently they were selling on the debt because its value had recovered close to par. But I don’t think this deal involved paying down any of that debt ahead of schedule.
They must be selling some ads. Good for them, I guess.
Re: xAI has acquired X, xAI now valued at $80B
#978Earlier quoted context omitted.
Twitter started with $13 billion in debt and now has $12 billion, so was only able to make $1 billion in profit in about two and a half years. Twitter was making around $500 billion a quarter before the Apple ad targeting changes that Meta was able to recover from back to more than their profitability before the changes, so if Twitter only got back to ~$100 billion a quarter they failed pretty hard in comparison to M…
> Twitter was making around $500 billion a quarter before the Apple ad targeting changes From https://archive.is/rfBcg : > Advertising revenue was $1.14 billion during the quarter ended Sept. 30 [2021], in line with consensus estimates.
I was looking at profits, but I might have grabbed wrong quarter. Also meant $500 million not billion.
Re: xAI has acquired X, xAI now valued at $80B
#979Re: xAI has acquired X, xAI now valued at $80B
#980Earlier quoted context omitted.
Sadly, my pension I have no holdings in armaments or instruments of torture, apparently. But that's about the most constraint I can apply, short of self-managing.
Easily-replaceable with the correctly shaped welfare-state, never fear!
You joke, I think, but I do think a solid welfare state delivers benefits that a mainstream economist would recognise. I fancy the long-term prospects if a country with a safety net higher than one without, all other things being equal. I see more inherent value in the public sector than the private.
Unfortunately the private sector has dominated the zeitgeist for decades; a kind of meta-regulatory-capture, if you will.
I can't trust that there will be a state pension waiting for me. So I'm in the private sector. Got some bonds in my mix, at least.