He lost me when started to talk about that budget deficit and interest rates and cost of borrowing by the Federal Gov't being essentially zero. With inflation spiraling out of control, those interest rates will have to rise, presto. The Fed has practically said so - "end of tapering, hikes next year" - why is Fareed not with the program?
Elon Musk's epic bacon adventures
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He lost me when started to talk about that budget deficit and interest rates and cost of borrowing by the Federal Gov't being essentially zero. With inflation spiraling out of control, those interest rates will have to rise, presto. The Fed has practically said so - "end of tapering, hikes next year" - why is Fareed not with the program?
I think Elon Musk is a better capital allocator than the gov't will ever be. His hoarding $300Bn or so is better and will generate more productivity than in the hands of the gov't.
If you can prove the opposite, I'm happy to grab a pitchfork and join the revolution.
Shit-stirrer supreme
Shit-stirrer supreme
Wow that’s next level shit stirring. He’s taken a tired old boomer narrative to the same levels we’ve all seen a million times before
For anyone interested in Elon's take on this whole debate, start watching at the 20min mark.
Checkmate libs
Shit-stirrer supreme
Elon fans are really simple.
"As a male feminist, why can't rockets be shaped more like vaginas? Hur hur"
Idiots.
Idiots.
Shit-stirrer supreme
I get why people with the mentality of a 15 year old edgelord worship this guy.
When do we reckon he's going to start wearing a fedora?
Yeah but have those other guys single-handedly built a multi-billion dollar company?
Has Elon?
Shit-stirrer supreme
It’s a good thing no one really cares about what he has to say. Except maybe a bunch of nerds. Or maybe a few boomers on here with too much free time on their hands.
Of course he has, haven't you been following this thread. Don't be a hater just because the guy is rich and cool.
The point in the Fareed video is that Musk himself has relied extensively on government handouts to build his companies in the first place, which is a dagger to the heart of the mythology that he’s some sort of capitalist savant who builds things by himself through the sheer audaciousness of his ideas, who should be revered and never castigated. It also casts his recent attacks on Sanders and Warren as that of a childish, hypocrite with a severe savior of humanity disorder, who can’t deal with people questioning him in any way.
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I think the scarf is his version of that.
Shit-stirrer supreme
I low-key hate how modern culture has taken people being twats and saying stupid shit and turned it around as just trolling, shit stirring, meming. Trump became President on the back of that, basically.
Yup.
Someone says something overtly offensive - "Iol what an troll master, literally the best thing ever said, all hail our king!"
Someone says they found the overtly thing slightly offensive - "omg wokeness shut up"
Almost had me
No, of course he is not beyond reproach, nor should he be revered. But I think the attacks from Sanders and Warren are beyond childish and counterproductive.
He explains in the video: 'I helped built these two companies, I didn't sell stock in the companies - my impression was you shouldn't take money off the table and de-risk things, that the captain should go down with the ship. I don't want to take money off the table and if the companies fail I will be enriched while the investors suffer, that didn't seem right, that's the reason I didn't sell. I could have easily diversified and protected myself financially if TSLA and SpaceX went bankrupt, but I did not. SpaceX and TSLA came very close to bankruptcy many times. Even when bankruptcy was literally weeks away I did not sell stock.
And then TSLA and SpaceX became valuable - the value is not up to me it's up to investors. And they decided TSLA is worth a Trillion dollars in public markets. And I own 20% of the company.
This is not a function of hoarding, simply I own 20% of the company that became very valuable as decided by external investors. And 20% of a trillion dollar valuation is $200B dollars. And I've said that the stock price too high but investors ignored that. Kept pushing the price higher. I literally said it's too high. My wealth is not some deep mystery. It's simply my ownership percentage in TSLA and SpaceX, multiplied by the valuation, that's my wealth. It's super simple. I have no offshore accounts, no clever tax evasion schemes, I don't draw a salary or any cash salary or bonus from the companies at all. I thought that was morally good - to not do that.
Unless you sell stock there are no realized gains, so what am I supposed to do? Am I supposed to send shares to the government? Unless you sell shares, there's no actual mechanism to pay tax...'
Tell me what exactly he's done wrong here, because I don't see it. Remove TSLA and Musk from the example above, and that's exactly how we'd want founders to act. That's why Warren and Sanders' attacks are baseless and just trying to enrage the mob.
By the way, you never addressed my claim that Elon (or Bezos for that matter) is a superior capital allocator than the gov't will ever be, and as such he should be allowed to take his free cash flow and invest in into the future.
The answer to this question was addressed in my previous post. The fact that Musk was financially backed by the government seems to undercut the essence of the question, since the government has already allocated capital that allowed Tesla, SpaceX, and Solar City to exist in the first place. Therefore Musk's "success" and capitalist prowess is actually interwoven with the Government's ability to support business and innovation.
Who is childish here? It's only counterproductive because there is no way that people like Musk and Bezos will actually discuss the remote possibility of reforming the tax system.
He took a loan which he paid back - what's the issue here? This is 2008-9 era by the way when credit crunch completely destabilized the economy, and the gov't was a lender of last resort to the big 3 and a few other banks if I recall. Most of which were paid, earning a return for the treasury - well done. It sounds like you're pissed off with Elon fanboys more than anything.
Forget Musk for a second - how would you want founders to behave under similar circumstances. If Redcafe.net valuation becomes $1Bn, where can we send the taxman? ;-)
This thread has gone from genuinely funny takes about this loser to now pure desperation, walls of text, about the divinity of Elon.
Christ, the Simpsons meme is spot on.
Christ, the Simpsons meme is spot on.
We don't need a deep dive on his personal finances to see that he's a massive dickhead anyway, why take the scenic route?
I am pretty sure this thread is slowly turning you into a radical socialist.
Yeah I'm digging Raoul's contributions in this thread. Maybe Musk being so incredibly obnoxious is what will get the revolution going.
If they get Raoul then that's it all over - the Commies will win. We'll all be speaking French within a month.
First they came for Raoul, and I did not speak out; because I find that socialism has been largely blunted in the states.
Now why wouldn’t this be insider trading, was the planned recall public knowledge?
Thanks!
Aha, no one really cares about what he has to say. And he's not really made any contributions to either space exploration or electric cars. Yet somehow he's worth $300B. So how do you explain this paradox, young padawan?
What contribution has he made to space exploration? As yet his rockets haven’t been used for any scientific missions as far as I am aware?
I’d describe SpaceX as very successful, not a failure. It just hasn’t yet contributed to any space exploration
Think Musk should be named as Ebola musk because he's a massive douche but his company has contributed to massively reducing the cost of space programs