cannedtuna22h ago
Considering he’s made $400B since acquiring Twitter, this was just a minor cost of doing business.
Show threadLedgeDrop19h ago

Considering he’s made $400B since acquiring Twitter…

Serious question: How?

AFAIK, Twitter wasn’t terribly profitable before they sold to Musk. Then after he purchased it, the enshittification accelerated.

How on earth does this result in $400 Billions in profit?!?

Show threadteyrnon
It’s not real money, and Musk isn’t the richest person in truth, not by a long shot. This is theoretical money based on overpriced companies that are propped up by what I suspect are some rather shady practices and investors using it as a casino stock.
9:36amWeb
Show threadtheolodis14h ago
The money doesn’t have to be real for Elon to be able to use his stock as collateral for billion dollar loans. So he in fact has real money, that banks gave him, and that he will never pay back.
Show threadteyrnon14h ago
While true, a recession will change things.
Show threadtheolodis14h ago

It will only restrict his ability to get new loans, and make his collaterals worthless. But he probably spent most of the money they gave him, and like with twitter, he shifted the assets around in his network of companies, like a thimblerigger.

But that’s kind of like saying that inflation will make the rich poor, which is also not true.

Show threadteyrnon12h ago
When stocks crash, his loans that are backed by those stocks get margin called, and he will have to sell other stock. If the government didn’t bail him out, and they will so this is academic, although he will have to pay them bribes secretly obviously that goes without saying, he would see a cascading effect from a recession because his companies are all so overpriced.
Show threadDeathsEmbrace13h ago
Actually worst than imaginable if you delve deep the psychology of the rich is akin to tumour development. Never forget these rich fuckheads would bet over your misery like a game.