memes

I’m convinced his grift has always been a kind of pyramid scheme in which he generates the appearance of wealth by going forever deeper into debt.

For example, Tesla was getting destroyed by short sellers who (accurately) figured out years ago their sales weren’t very strong and self-driving wasn’t happening. But then $TSLA became a meme stock and the shorts got routed. But was it really a bunch of Reddit bros buying that stock or did Elon borrow cash to pump his own stock price?

Another example, Solar City his solar roof company was an absolute bonfire for cash where he managed to turn each new paying customer into a long term liability by selling the future revenue from those customers as bonds and also making the revenue for those customers less than the cost price to him. He was literally selling “you give me $10 today and I’ll give you $10 every year for 20 years, also I’ll give you $8 right now” as a long term business model.

Another example, the cost of launching all those satellites into orbit for starlink is likely higher than the revenue generated from subscriptions, except that these launches are probably being heavily subsidized by spacex. Also starlink is spacex’s main customer and likely shifting those losses onto spacex in the process.

And of course there’s the way he lit tens of billions on fire with twitter.

The idea he’s worth $400bn is laughable. He’s been hemorrhaging cash ever since Peter Thiel won him the PayPal windfall. Even the enormous government subsidies he gets for all his grifting doesn’t seem enough to square the deep dark money pit Elon has more than likely dug as his own grave.

I think he’s going down like a one-man Enron and already there are hints of creative accounting practices at Tesla that might be the first early cracks.

He certainly has access to ridiculous amounts of money so maybe it’s a moot point. The guy has spending power far more than most mortals. But I think it’s likely he in fact has the lowest net worth in the history of humanity. The only thing saving him is that we are firmly in the Enron-erry-day era of American capitalism.

He's too busy posting to even do the FUCKED UP shit his other immensely wealthy cohorts do.

Same way I feel about chuds.

They are spoiled rotten and can do whatever the fuck they want with their universe-bending good luck, and they’re the same types of people to never leave their house.