The story of Musk is just an impossibly cringe comedy of errors, and not just his.

At the time of the twitter acquisition, Tesla had bought $1.5b worth of bitcoin at roughly 36k, holding it on their balance sheet for a massive loss. Truly hideous unforced error, done for memes.

Bankers nonetheless decided to underwrite the CEO who made this decision to the tune of $12b worth of unsecured debt to LBO a growth tech company, which is an equally absurd idea.
1/2