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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

#981

Post by itsoktocry »

geertj wrote: post #862
jeff_carr wrote: post #810

Earlier quoted context omitted.

> 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.

[flagged]

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

#982

Post by itsoktocry »

geertj wrote: post #952
lukevp wrote: post #904

Earlier quoted context omitted.

They started selling FSD back in like 2017 and it was supposed to be self-driving ALL THE TIME by 2019. It’s 8 years later now and the best you’ve got is “upgrade the hardware to version 4 and you can make a 25 mile commute without disengagement” when Tesla was promising cross-continent summoning so you could fly somewhere and your car would drive there to meet you, charging along the way. That’s L5 autonomy. The del…

I was replying to the "never was going to work" part > It never worked and it never was going to work. That is evidently false. If I had a longer commute it would work fine too. I have done ~2 hour road trips with it already. You are bringing up a different point, which is that FSD arrived later than promised or at least implied (I don't know exactly how this was sold in 2017). That is self-evident at this point.

It hasn't arrived at all.

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

#983

Post by NelsonMinar »

czk wrote: post #528
NelsonMinar wrote: post #291

Does anyone know who xAI's board of directors is now? I can't find reliable information online but it appears to be very small, maybe just two people (one of whom is Musk.)

All I can find is that it consists of two people, Elon Musk and Jared Birchall (wealth manager of Musk since 2016, CEO of Neuralink, "right hand man", etc)` If there are others, it's likely to be representatives from firms like Sequoia Capital and Andreessen Horowitz? Also worth noting that in July 2024 he was discussing having Tesla invest 5B in xAI, I forgot about this one: https://x.com/elonmusk/status/18159078444…

It seems odd that xAI was able to raise $6B without offering a board seat to someone other than "Elon and Elon's personal money manager". But a lot of things about Musk's businesses are odd.

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

#984

Post by acdha »

claytongulick wrote: post #847
acdha wrote: post #776

Earlier quoted context omitted.

They’ve been here for ages but you can basically see what happens when you self-identify with a party rather than principles and put your intellect to work rationalizing positions selected by other people. I miss their contributions of a decade ago.

> what happens when you self-identify with a party rather than principles and put your intellect to work rationalizing positions selected by other people This is a problem for a lot of people, regardless of political spectrum. When your identity is tied to a political group, criticism of that group transfers to criticism of self, and there aren't many people that enjoy that.

Yes - it’s a cognitive pitfall humans are prone to. You can see it with any group membership - here on HN, how many comments have we seen where someone is defensive about legitimate criticism about their favorite programming language or style – but it can be especially bad with politics because it can be weaponized by people acting in bad faith with significantly more negative consequences.

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

#985

Post by acdha »

silisili wrote: post #852
acdha wrote: post #771

Earlier quoted context omitted.

Speaking of threads with zero facts, can you cite your research? Here’s mine showing $12.5B secured by TSLA shares: https://www.sec.gov/Archives/edgar/data/0001418091/000110465... That wasn’t the only funding, of course, but it’s a big chunk: https://web.archive.org/web/20220422035052/https://www.bloom... https://www.nytimes.com/2022/04/25/technology/musk-twitter-s...

Again, you're just citing three things from the same date, and I don't believe it's in good faith. Elsewhere I suggested people to just Google it, because it gives you an honest answer. So does chatGPT. So does the Wiki page on the deal, with sources. Here is one said source - https://www.theverge.com/2022/5/25/23141940/elon-musk-tesla-...

Thanks for the source. Google might have given you the later update because you’d already searched for it, but that was not true for me.

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

#986

Post by 1cool »

piyuv wrote: post #726
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…

South Korean president is jailed for trying to coup, no? So there’s precedent.

He’s been released.

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

#987

Post by cyberge99 »

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…

Isn’t this what Trump was found guilty of? Inflating asset value at loan time and deflating their values at tax time?

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

#988

Post by nprateem »

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.

Downvoted but he even admits it: https://www.theguardian.com/us-news/2025/mar/30/trump-third-...

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

#989

Post by MrSkelter »

rayiner wrote: post #182
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…

You’re burying the lede here, which is that the Delaware Chancery Court rules that Tesla had paid a fair price for Solar City: https://www.businessinsider.com/elon-musk-wins-solarcity-tes...

Regardless of the faith you have in the courts assessment time has shown the more critical opinion to be true. Solar City was a dead company, none of the promises they made has amounted to anything, they aren’t producing any products or revenue, and the deal has been shown to be self dealing in order to bail out his brother.

Where are the solar roof tiles? What’s happened to the tax payer funded factory in NY?

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

#990

Post by HarHarVeryFunny »

pests wrote: post #462
TZubiri wrote: post #435

Earlier quoted context omitted.

IANAL, but this might be brought to court, if the company mission (as defined in their operating agreement) is to invest in AI, then buying X is not in the best interest of the company and not what the investors signed up for. It could be fraud.

Every AI company is buying access to data sets or sources of data.

So your justification rests on the theories that a) Musk (Twitter) was denying Twitter data access to Musk (xAI), and b) Twitter data - a firehose of ill-informed flamewars and bot responses - would provide some incremental benefit to training a frontier model.
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