What is Elon Musk up to now..

[stylofone]

I do hope Leon has some receipts. We know somebody does.

He makes shit up with the same zest as his orange adversary, so it's hard to know.

[stylofone]

The latest Starship failure had me contemplating the strange mode of capitalism that Elon Musk operates in. He owns a bunch of shares in Tesla, which are, on paper, worth lots of money. He uses those shares as collateral to borrow money to buy and control other companies. The value of the shares is the key here. If Tesla shares were priced at a similar level to Toyota, they would be around one twentieth of their value. But unlike Toyota, the Tesla share price is not about how many cars the company is selling now, it's about the promises of future innovation which will, allegedly, allow the company to expand dramatically. What you buy into when you invest in Tesla is belief. The prophecies on offer are AI, humanoid robots, self-driving robo-taxis, and colonisation of Mars. That last one is the most religious of all, it is about the Messiah delivering the faithful to a paradise in the sky. The vision occasionally includes Musk ascending to the heavens himself.

This is why, if there was a revolution and it involved rounding up and imprisoning billionaires, their absence need not make a material difference to the companies they formerly owned and the products they produced. While mismanagement and chaos would be a risk for the revolutionary leaders, the assets would continue to exist after the billionaires are gone. Only the belief in false prophets would be destroyed.

https://www.9news.com.au/videos/world/s ... mgsn0gst9v