richest man ever

elon musk seems like a financial genius because he’s ridden several waves of fintech speculation, monopolization and extreme gov’t asset-price support over the last 20 years. his twitter deal is so laughably bad that MBA profs will be using it as a cautionary tale for years after

if he didn’t consider himself such a very stable genius some CPA might have been able to convince him leveraging a huge portion of his equity in his ludicrously overpriced ($1t!) car outfit that barely makes cars to pay $1b+ interest per year on an unprofitable website was bad

ima few years i’m going to buy twitter on a carpenter’s wage after it’s been variously monetized, demonetized, free-speechified, unfree-speechified, ad-soaked, ad-lossed, made a fee service, then free again all to try to make a crumb of profit before being stripped for parts

also this will be the only type of post allowed. militant transnational working class solidarity or the banhammer, your choice

In at least two cases, X failed to take down accounts linked to influence operations when notified by researchers.

The loss of free API access and the threat of legal action has dissuaded researchers from seeking out bad actors.

Elon Musk’s public efforts to drive out bot accounts has had little effect.

Less than two months after Tesla shareholders approved a $56 billion pay package for CEO Elon Musk, the company reported its second consecutive quarter of declining profits, sending the stock down 13 percent. According to Bloomberg, it has been over 365 days since Tesla last met Wall Street’s earnings expectations.

For the quarter, the electric vehicle leader posted an operating profit of about $1.6 billion, with a little more than half coming from selling cars. The rest came from emission credits. These credits are effectively all profit, as companies that don’t meet federal emission requirements can purchase credits from automakers like Tesla, which does.

The turbulence reflects a broader trend in the industry. After a big spike, growth in the American electric vehicle market has slowed to a trickle. In 2023, Motor Intelligence estimated that the industry grew by 50 percent. However, growth slowed to just 6.8% in the first half of this year. In response, General Motors postponed the opening of a new plant, while Tesla is now in the unenviable business position of selling fewer cars and slashing prices to do so. “The whole story here is about what else is to come,” an asset manager told Bloomberg.

Tesla’s inflated value (the company is roughly worth as much as Ford, GM, Stellantis, Toyota, and Volkswagen combined) has long been premised on the idea that Musk could singularly lead the team into cutting-edge technology like autonomous vehicles and artificial intelligence. “If you believe Tesla will solve autonomy, you should buy Tesla stock, and all these other questions are in the noise,” Musk reiterated to investors this week.

In April 2024, Musk told investors that the company would showcase self-driving taxi technology by the end of summer. One month later, Reuters reported that the Department of Justice criminal investigation into the company centered around its self-driving technology claims—casting even more doubt on Tesla’s ability to meet the lofty objectives.

This week, Musk announced the unveiling of his autonomous robotaxi would be delayed until October.