"Elon Musk is the face of the saying that the market can stay irrational longer than you can stay solvent. An entire army of people have fought in the great war of Tesla shorts and lost, including yours truly. Musk is a charlatan, a modern-day snake oil salesman who has been making promises he can't keep ever since he nearly killed himself and Peter Thiel while recklessly driving his McLaren in 2000, yet his net worth truly is up only."
"And he got rich through financial chicanery and perpetual promises he still has yet to deliver on; like full-self driving, or Tesla being anything more than a carbon credits company that's shutting down production on a couple of its cars. His Tesla options packages have roiled the courts, whose decisions to strike them down helped lead Elon Musk to poison our politics."
"To be fair to apartheid South Africa's preeminent ketamine enthusiast, there are some very rational reasons for this deal. Musk is ruthless in his business dealings, and like Trump, has demonstrated the value of simply acting like laws aren't real in a country who told everyone in 2008 that they truly are not for powerful people. We are in a ruthless age, and there are two extremely good reasons for Elon to fold an unprofitable company into a profitable one."
Elon Musk exemplifies how markets can reward figures despite irrational valuation, with many short sellers losing significant money. He is characterized as a charlatan who has made repeated promises he failed to deliver, including full self-driving, and survived a near-fatal 2000 McLaren crash. Tesla's valuation is contested and heavily supported by carbon credit sales while production of some models is being cut. Musk's option packages triggered court challenges and spurred political influence. Musk pursues aggressive mergers, folding unprofitable ventures into profitable ones. The SpaceX–xAI transaction and a $250 billion valuation for xAI are presented as a bailout for an underperforming AI business.
Read at Jezebel
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