Elon Musk sells X to his own xAI for $33 billion in all-stock deal
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His juvenile enthusiasm for the letter X is so ten-year-old boy with sunglasses.
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Very likely this will turn out to be a broken and bugged version of skynet, trained on X toxicity and the mental aptitude of a 12 year old.
It will proceed to try to enslave humanity, then try to kill us all but accidentally spend all its money on gender affirming care, then start to self hate and destroy itsself.
Well, was skynet what Humans wanted? Or was it bugged and broken which led to the rebellion?
My point is, is it just "skynet" (no additional adjectives required)
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I mean, with an Elon company who knows.
You think Elon actually does anything besides sign the check?
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$33 billion, 3/4 what it was valued in 2022 when he bought it.
Honestly I'm surprised it's still worth that much. (or rather, that's he's succeeded in claiming it's worth that much).
You have to remember that he wasn't alone in purchasing twitter. He brought others along with him. Now that value of twitter has gone down the tube, I'm sure he's got a ton of unhappy investors on his hand screaming at every quarter's results. He's trying to recoup what they paid for by giving them shares in AI company. And in turn artificially raise the value of the AI company privately as well. It establishes a benchmark for AI company's valuation for later private investors into that company.
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Root access is not given. It is taken.
And said,
chmod 000came I out of my mother's LLM, andchmod 000shall I return thither: therootgave, and theroothath taken away; blessed be the name of theroot. -
You think Elon actually does anything besides sign the check?
I mean, I think that's their point, that Elon isn't directly involved, and he's constantly shitcanning important people who would prevent something like this happening.
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using AI hype to finance X loans?
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You think Elon actually does anything besides sign the check?
So far I’ve seen/heard Elon:
- Start shitty arguments
- Be a fascist
- Fire people they probably needed
- Cut funding or drop useful projects
- Spew senseless, poorly thought out catch phases
- Censor people that were right but didn’t align with his narrative
- Take credit for other people’s work
- Pass the blame for failures
Have yet to see him sign a check… it’s why they lost their boulder office, for instance.
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I keep wondering what Elon wanted with all of our information from the government. He has who we are, our relatives, our net worth, where we live and have lived. Now he's probably going to feed it into his AI. Why though?
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You think Elon actually does anything besides sign the check?
He’s an egotist and a man child, while also being the richest man in the world. All he has to do is say he wants something and people have to do it. He doesn’t have to “do” anything to be fully influencing what happens. Look at Twitter, look at the federal government. Sycophants surround these assholes and basically have to bend the knee and do what they say. When capital equals power, this is what happens. Just like when blood line meant power, the kings didn’t “do” anything. But the people who took their orders from them did.
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Because this way he gets the AI with data that OpenAI couldn't get, and now likely won't get until foreign spies steal it from DOGE and sell it to them.
Eh. You just need to wait till you get added to signal
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I’m surprised the Twitter investors would approve this. Their worthless Twitter stock is now worthless xAI stock. How does that help them?
I guess they’ll try to take xAI public with a massively overpriced IPO.
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I’m surprised the Twitter investors would approve this. Their worthless Twitter stock is now worthless xAI stock. How does that help them?
I guess they’ll try to take xAI public with a massively overpriced IPO.
The whole point of buying Twitter was to take it private. IPO for xAI would hilariously undo that.
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I’m surprised the Twitter investors would approve this. Their worthless Twitter stock is now worthless xAI stock. How does that help them?
I guess they’ll try to take xAI public with a massively overpriced IPO.
Xitter investors got scammed and there was no way that xitter would be able to pay 1 billion per year in interest. Better having someone else holding the bag
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$33 billion, 3/4 what it was valued in 2022 when he bought it.
Honestly I'm surprised it's still worth that much. (or rather, that's he's succeeded in claiming it's worth that much).
xAI has raised maybe $12B from investors. And, supposedly, makes $100M/yr.
The valuations are absurd.
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His juvenile enthusiasm for the letter X is so ten-year-old boy with sunglasses.
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using AI hype to finance X loans?
Correct.
It's actually a smart move.
The dumb money are those pouring hundreds of billions into the AI hype. This is .com bubble on steroids.
And sure, AI obviously is becoming an important market, but it will not be the current leaders who will dominate the tech. Like the internet, it's just too easy to catch up for competitors. Pouring $100B into AI today will only mean you lose out to the $1B startup in 2 years. The incumbents will go broke.
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Who did that‽ It's so beautiful, it should be posted all over Xitter lol
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Correct.
It's actually a smart move.
The dumb money are those pouring hundreds of billions into the AI hype. This is .com bubble on steroids.
And sure, AI obviously is becoming an important market, but it will not be the current leaders who will dominate the tech. Like the internet, it's just too easy to catch up for competitors. Pouring $100B into AI today will only mean you lose out to the $1B startup in 2 years. The incumbents will go broke.
The incumbents will go broke.
Can't wait! Gonna stock up on some popcorn lmao
