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Coverage like this makes me feel sad.
Do people honestly not realise that billionaires always enrich themselves during recessions?
This is all going to plan for oligarchs. People celebrating it are naive unfortunately.
and they have bailouts just in case they cant actually make money.
I would say most of it is meaningless other than Elon and specifically Tesla, Tesla stock prices plumetting will remove most of the power from Elon in the future, even Trump might turn on him once his main thing his net worth evaporates
Yes, the all-but-inevitable Trump decision to throw Musk under the bus is not something I've seen a lot of people discuss.
Musk is only a part of the problem, and Musk will have to lose another 110 billion before he even stops being the richest man in the world.
I'd love to see that happen but I'm not holding my breath. Meanwhile it does nothing but enrich powerful Disaster capitalists including Putin and his coterie.
Id be willing to bet that tesla is no bigger than 10% maximum of his worth. His big ones are space X that just chugs our tax money, and starlink, which I believe is being used as navigation in weapons systems being sold to nations. Tesla is effectively meaningless now.
I doubt that
Edit: Tesla’s market cap is now 722 billion, still making it more valuable than any company on this graph. We need to go much lower
This really puts into perspective how massively overvalued tesla is
Said unironically by many people.
It's a funny argument, because, yeah, a lot of tech companies are overvalued, but that's not a good thing either
Yeah that's what a bubble looks like all right
looks more like a cancerous tumor9tesla) crowding out healthy tissue.
That is absolutely wild... I cant believe how much of the industry they are! Well thats great then! I was worried the death of tesla would be unfelt by elon.
He's hit the level of wealth where he'll never be poor. But he can be removed from "buy governments" money until such time as he can be held accountable for his actions
I think you are wrong in the exact opposite direction, spaced just lost a 25 billion contract too