Elmo finds yet another way to pad his perceived value…
Sell shit companies (both of which you own) to yourself at exorbitantly inflated prices with “stock only” trades.
And no accounting shall be had cause steal-ionnairs just can.
🙄 🤦♀️ 🤡 🖕 🖕
Blame loose monetary policy, and QE that pumps money into risk assets. Tesla and Bitcoin have many things in common.
A shell game.
He was having trouble refinancing given the massive drop in revenue and valuation.
So just make up a number and buy it off yourself.
Lol neither are worth that much.
I don’t know. Look where twitter helped him to get. It is a well working propaganda machine.
I’m not convinced bundling a losing business with an utterly inflated one is the right move to attract investors but then again you shouldn’t invest in an oligarchy in the first place.
They’re not investors, they’re money launderers.
These are some stupid company names.
If you put them all together they eventually spell a slur.
It’s all tied to tesla and if that stock tanks it’s game over. Elmo is leveraged to his tits lol.
As soon as it drops below 180 the whole house comes down. Current targets are being updated to $110 which I still feel is over inflated.
Didn’t he already do this same sort of fuckery with Solar City and Tesla?
So the ridiculously overvalued pump-and-dump paid for the real assets that he then destroyed but will bail out with the magical cauldron of venture capital so everything’s just fine.
Can’t see any problems here.
I have seen 3 different posts and each had a different value for X. The number sends arbitrary. Who gives a shit what he paid for his own company.
It’s not all him, several other people invested in both. According to some article Elon owns 79% of X, and only 54% of xAI (barely enough to control it). Since the valuation of X in the deal is about $20 billion more what others have estimated ($12.3 billion), it definitely seems like it’s a corrupt bailout 46% funded with other xAI investors’ money, basically netting Elon $8 billion overnight.
That being said, the other investors in xAI are easy marks like Marc Andressen (famous for funding Adam Neumann’s project that came after WeWork) and various Saudi Royals who possibly were convinced that this is ok.
Saudi Royals who possibly were convinced that this is ok.
Convinced? This is how they’ve bribed him.
Mixture of bribe and getting scammed.
If you don’t have a Twitter account there’s no reason for you to care about this at all.
Spend your limited time on earth worrying about things that matter.
An unelected billionaire committing fraud and destroying our government really does matter.
I hate people that say, “I don’t care about politics, it doesn’t impact my life.”
From federal to local politics impacts every single aspect of your life.
But foreign politics less so. New government in Kenya? Not a big deal. Convicted felon and rapist shitting on the world? Annoying, but there are more important local matters.
xD
