Scott ShapiroDec 18, 2022
Watching Elon Musk destroy his $44 billion toy is riveting
Show threadYochai Benkler
@scottjshapiro
At least as fun as watching Musk surfing the fabled efficiency of capital markets.
Morgan Stanley, Bank of America, et al: $13 billion in debt finance. (hoping for ~ billion dollars a year in interest payments).
6-7 billion from Larry Ellison, Fidelity, Sequoia Capital.
Dec 19, 2022 at 12:09amWeb
Show threadMichael KaranicolasDec 19, 2022

@YBenkler @scottjshapiro This is what gets me. I have no problem believing that a billionaire egomaniac could get this far out over his skis in a field he knows nothing about.

But it's bananas that he got billions of dollars of financing to do this, from institutions that are ostensibly run by grownups.

What on earth were they thinking?

Show threadnadezhdaDec 19, 2022
@karanicolas @YBenkler @scottjshapiro @chemoelectric And Jack didn’t take the huge payout - he just rolled his investment over 🤦🏻‍♀️
Show threadMichael KaranicolasDec 19, 2022
@nadezhda04 @YBenkler @scottjshapiro @chemoelectric lol