Elon Musk sells X to his own xAI for $33 billion in all-stock deal
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I mean, with an Elon company who knows.
wrote 25 days ago last edited byit probably runs as root.. all things considered..
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This post did not contain any content.wrote 25 days ago last edited by
Phew. Just in time to avoid fraud charges on the loan.
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This post did not contain any content.wrote 25 days ago last edited by
What's the point? Is it some sort of tax scheme?
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You think Elon actually does anything besides sign the check?
wrote 25 days ago last edited byYeah, he yells at people to go faster and ignore industry best standards or be fired.
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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).
wrote 25 days ago last edited byIt dropped a lot lower than that but spiked back up once he became the leader of America
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Who did that‽ It's so beautiful, it should be posted all over Xitter lol
wrote 25 days ago last edited byJust confirming Xitter is pronounced “shitter” right?
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What's the point? Is it some sort of tax scheme?
wrote 25 days ago last edited byRestructuration of ownership and debt so that if Tesla fails he get to keep his assets in his other non public companies. At one point Tesla stock was leveraged to buy Twitter, i think that Elon shielded his assets because Tesla is way too exposed.
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Well, not really. Twitter was his own private property that he bought with borrowed money secured against his Tesla shares. xAI on the other hand is financed by investors whose money he used to bail himself out at a price he made up himself since Twitter is no longer publicly traded. So this is, in my opinion, misuse of investor funds; the picture would be true if xAI used how own money to do this, but no.
On one hand,I think this is serious fraud. On the other, my understanding for anyone investing into his companies is very limited, there are so many red flags on so many levels.
wrote 25 days ago last edited byTo understand Musk/Trump investors, imagine the investment to be an NFT.
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Just confirming Xitter is pronounced “shitter” right?
wrote 25 days ago last edited byThat's how I've been pronouncing it in my head when I read it.
I still say "Twitter" though because that and the gulf of Mexico are the only things I feel are okay to deadname.
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That's how I've been pronouncing it in my head when I read it.
I still say "Twitter" though because that and the gulf of Mexico are the only things I feel are okay to deadname.
wrote 25 days ago last edited byUntil the Gulf of Mexico becomes sentient and tells me it prefers to be called the Gulf of America, I will continue to call it what the rest of the world calls it.
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wrote 25 days ago last edited by
“X” is also 88 in ASCII.
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This post did not contain any content.wrote 25 days ago last edited by
Funny that people take this news as some kind of technological fusion between companies and not housekeeping of the dipshit's personal finances.
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The incumbents will go broke.
Who do you mean with that? Companies like OpenAI or Anthropic, or do you also include the likes of Google/Amazon/Microsoft?
With the former I can see it, but the later also profit from providing the infrastructure (and have other profitable business), so imo those will be just fine.
wrote 25 days ago last edited byI definitely see Google/Amazon/Microsoft shedding a huge amount of market cap when the time comes to write-off the 100s of billions they invested the past two years.
They just don't have any feasible path to recouping those investments.
Sure, they'll never go fully broke, that's just a nice word for emphasis.
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“X” is also 88 in ASCII.
wrote 25 days ago last edited byCoincidence? I think not!
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Who did that‽ It's so beautiful, it should be posted all over Xitter lol
wrote 25 days ago last edited byI made this one. Thanks for the compliment!
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“X” is also 88 in ASCII.
wrote 25 days ago last edited byI did not know these things, but makes sense…
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Well, not really. Twitter was his own private property that he bought with borrowed money secured against his Tesla shares. xAI on the other hand is financed by investors whose money he used to bail himself out at a price he made up himself since Twitter is no longer publicly traded. So this is, in my opinion, misuse of investor funds; the picture would be true if xAI used how own money to do this, but no.
On one hand,I think this is serious fraud. On the other, my understanding for anyone investing into his companies is very limited, there are so many red flags on so many levels.
wrote 25 days ago last edited byHow to get a lawyer to investigate......
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I definitely see Google/Amazon/Microsoft shedding a huge amount of market cap when the time comes to write-off the 100s of billions they invested the past two years.
They just don't have any feasible path to recouping those investments.
Sure, they'll never go fully broke, that's just a nice word for emphasis.
wrote 25 days ago last edited byI actually think Google is going to win this one, they're the only ones making their own hardware to run their own models. Open ai are starting down that road but they're years behind.
When you look at the pricing of all the AI companies, Google's is so much cheaper (orders of magnitude) and they're not having to pay Nvidia billions to do it.
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Well, not really. Twitter was his own private property that he bought with borrowed money secured against his Tesla shares. xAI on the other hand is financed by investors whose money he used to bail himself out at a price he made up himself since Twitter is no longer publicly traded. So this is, in my opinion, misuse of investor funds; the picture would be true if xAI used how own money to do this, but no.
On one hand,I think this is serious fraud. On the other, my understanding for anyone investing into his companies is very limited, there are so many red flags on so many levels.
wrote 25 days ago last edited byyes its a perfect setup for a payoff.
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This post did not contain any content.wrote 25 days ago last edited by
Is this so the loans secured with X stock can't be called in, forcing Elon to sell the collateral to pay back the loan?
Sure seems like a bullshit business move to retain control of Tesla.
