In a blog post, Musk said the acquisition was warranted because global electricity demand for AI cannot be met with “terrestrial solutions,” and Silicon Valley will soon need to build data centers in space to power its AI ambitions.
This dumb fuck. Unfortunately, his boosters will be all-in on this messaging. Whatever.
Company with largest stock valuation
=/=
Most valuable company
Bobs : “What is it you do?”
Elon : "Well–well look. I already told you: I deal with the god damn customers so the engineers don’t have to. I have people skills; I am good at dealing with people. Can’t you understand that? What the hell is wrong with you people? "
No one has said this is how Elysium starts?
This is how Elysium starts.
Elysium actually had some semblance of working technology, though.
Something something torment nexus something something.
burying his losses.
100%. They’ve announced the plans for SpaceX to have an IPO, this will basically eliminate all of his losses even if they just shut down xAI immediately following acquisition (which they won’t do just yet, because people are still bag holding AI investments.)
This guy might be a dumb fuck, but he’s the smartest dumb fuck in the billionaire game.Edit: Some of his capital investors might have told him that they want out of xAI because they see where the wind is blowing. This gets them out with profit if they pull it off fast enough.
This (SpaceX IPO) is going to be a massive rug pull, for the 2nd round of public traders and I bet that he’s got structure in place to ensure that even after selling billions of dollars of shares he still holds 51% or some shit, or that his annual compensation is $0+1% of the company.
10 years ago I would have bought into a SpaceX IPO. Not today.I don’t think he is dumb. He is without decency though. He doesn’t care who he hurts and I have no doubt he will hurt a lot of people in the future.
great place to store the expensive child porn generators. far away in space, where a molotov can never reach.
i fucking hate this timeline.
Strapping a lead albatross to your space program is certainly a choice
Incredible there are people dumber than him giving him money when he says things like this. He is an absolute conman.
THERE’S NO INTERNET ON MARS
a good salesman would ride an ai guided rocket to mars.
One day we’ll be shooting satellites out of the sky for sport
smoke screen. expect some mirrors
Someone needed a distraction from his name appearing all over the Epstein files
Every article needs to read “Elon Musk, who’s name repeatedly appeared in the Epstein files”
Financial trickery is what this is. Rolling one failing business into the next, Tesla will follow soon. It’s incredible that this is even legal, but of course nothing matters anymore in Trump’s America.
The stupid thing is that it‘s perfectly legal as long as nobody looks into it and because it‘s a US corporation nobody will look into it.
this is it
supporting the share price long enough he can sell as much as possible
Is he actually selling shares? Imo this move might actually be more about gaining more control percentage wise.
Similar to how he increased his control when he folded Twitter into xAI (at a imo very favorable valuation for him), which gave him a larger share of the combined company.
If he merges space x and xAI (especially at a high valuation of the latter), he would own more of the combined company as he owns more of xAI then space x.
For me the only surprising thing is how existing shareholders seemingly just let him dictate these mergers and valuations. But I guess they face a dilemma where valuation depend so much on Elon that they have to play by his rules or risk loosing even more.
“…creating the world’s most overvalued private company.”
FTFY.
I’m not really convinced SpaceX was over valued IF Starship succeeds, but every single part of xAi was.
And also, that’s a pretty big if!
For sure. I don’t doubt they’ll get it functional and getting payloads to space, but the entire premise is on full rapid reuseability, including same day relaunch of starship. That is still a very very very big if.
If they can’t get to that point, it’s not worth anywhere near what it is being predicted to be worth.
Bullshit. He’s playing move the debt around.
Absolutely. And if the AI market takes a hit it will barely affect a government contracted space program that will get a taxpayer funded bailout if it has any trouble at all.
They don’t always bail them out. Sometimes they force sell them to their competitors.
The richest man on Earth will absolutely get a bailout on our dime and not spend a cent of his net worth.
Yup. Who’s in charge of determining if he gets bailed out? How much money does each of them need to say yes?
Oh, they won’t take money? What influence does he need to buy?
For the amount of money he’s set to get, there’s noone that’ll turn down a nice gift of some sort.
You mean that guy who desperately tried to invite himself to an island to rape kids, but was deemed too big of a weirdo and jackass?
Yeah cool, go AI rockets or whatever.
I guess do feel bad for the innovators and engineers that are doing actual cool shit in his companies. Must suck to be downstream of that shithead. So much potential, so much stigma (for the company, not the pedo fuckhead)
Spacex had a team of people who would cosplay as engineers and be enough of a distraction that it would distract him from meddling with anything really important. He’s mostly whittled away the leadership that protected the company from him these days
