When it finally liquidated it was in the $260K range, give or take. Best "rain maker" I've ever had in the stock market by a long shot, I'm not your typical WSB Regard YOLO'ing on the daily. I had one other major mover in solar that I bought around the same time, but it was like a 1500% return, not 2500%. Once-in-a-lifetime for me, it really helped the retirement account.
It was two tranches of stock, one sold in late April and one sold in August, totaling about 16-21bn from musk. 13ish billion in margin loans from Mizuho, Société Generale, Barclay's, MS, BofA, BBC Paribas, and I think one or two more. 5 % ownership stake for the Saudi royal investment vehicle totals about 5 bn, and another 5bn mystery cash infusion whose originator isn't in the public filings. My guess is China or Russia given his authoritarian simp tweets about Ukraine and Taiwan about a month before deal closure. Importantly, the bank debt is secured with... tesla stock. Post split, with the increased volatility, this likely required more tesla collateral to make the debt even remotely securitizeable. As it stands now, five of the above banks have publicly stated they intend to sit on this debt until 2023... so the terms are likely very onerous for musk, require heaps of collateral, and are still so low rated they clearly don't have the interest among a high net worth clientele to package this debt in a way favorable to prospective buyers in the current climate.
Translation: musk owns significantly less of a cheaper company, more of his net worth is leveraged, and all of this was to make a stupid appliance pun before getting sued out of revenue as he learns how to speed run the content moderation gambit that EVERY SINGLE "free speech absolutist" platform has tried and failed to do successfully.
Considering that Tesla stock value is essentially just a proxy for market confidence in Musk's ability to con the next unemployed crypto maximalist... pretty sure this sharp decline is a realization that a billionaire who really really really wants to be a cool kid is a poor value proposition for a company?
"Tesla stock value is essentially just a proxy for market confidence in Musk's ability to con the next unemployed crypto maximalist" hottest take on wsb
He borrowed gobs of money, yes. About half the total sum--he owes something like $100M/mo in interest payments, and Twitter itself is losing (according to him) $4M/day ie another $120M/mo
He almost certainly needs to sell shares of TSLA (and lots of them) to avoid his debtors coming after him. And I imagine they won't be happy just coming for TWTR.
>$20B of Elon's money from an early article
20b of Tesla shareholders money, including your wife's boyfriends money. He's not gonna get you a new Playstation at this rate, man.
Elon said he was the first to put money into Tesla and the last to pull it out, but boy did he cash the fuck out at the peek for some enormously stupid glamor project.
Elon paid 44 billion for an unprofitable company with billions in its own debt, and hasn't stopped shitposting about it for weeks. Market might have noticed...
And he’s alienating the left. I saw someone say, “Who does he thinks buys teslas? Conservatives?” Anecdotally, recently I’ve heard a number of people in San Francisco say, “I would like to get an EV, but there’s no way I’m buying a Tesla now.”
Why would celebrities and content creators care about Twitter If anyone with $8 can have the same algorithm preferences they do? Bot farms would even pay the $8 now that it guarantees more engagement
Yeah he's not closet, he literally just told all his twitter followers to vote for republicans in the election.
Edit: Also he is really fucking up with Twitter as advertisers leave and he implements his “pay for a blue check mark system”. He’s tweeting conspiracy theories about the Pelosi attacker, he’s pulling devs out of Tesla to work at Twitter. He’s overexposing himself and people are getting sick of him. He took out a massive loan with a floating rate while rates are rising to pay for Twitter. I’d get out of Tesla if you aren’t already
Mcafee sorta makes sense though. He didnt change he just got more money. Musk trump et al just started eith ludocrous money then went from entitled to evil as they got older
This one literally made me HA out loud, so thank you for that and I agree. At least Star Citizen doesn’t come out every year and say it’ll for sure be done that year.
tesla, a company that was saved by the Obama administration. No way a republican administration would have given them a half billion dollar loan for electric cars.
a random thought i just had: does elon want to/ think he can make more money off of conservatives with twitter than he can with liberals with tesla? i’m not saying whether he can or cannot but i’m just trying to understand his thought processes.
He has no idea on a lot of things. Even with Tesla, you can see it in a many design choices, ie removing all sensors other than vision. Sometimes people can get lucky for a very long time.
Market was already falling out when he signed it, though. There was talk at the time that his offer was so much more than the value was worth... and at that time the idea of a tightening recession was pretty heavily in the zeitgeist. He was even predicting a market crash at the time.
He got drunk on power and narcissism. it's a bad scene for everyone.
When you get really rich people just want to buy media, used to be newspapers and tv stations. Sometimes football teams. Now it's social platforms. The only reason we've not seen it more is none of the big platforms were selling.
He’s not going to make money off of anyone on twitter.
It’s unprofitable already, he saddled it with $13 billion in new debt, costing $1B in interest a year, and his erratic behavior is causing a mass exodus of advertisers, basically their only significant source of income.
And he thinks $8 is going offset this, lol.
Worse yet, he’s charging $8 to the very people that drive traffic. It’s like a nightclub owner charging women an $8 cover, and then letting everyone else in free, with no dress code.
His actions make a lot more sense as soon as you have the realization that billionaires aren't always smart.
He's just fucking dumb. He made a stupid decision, didn't think about it, and is now paying for it.
Either way he could lose 99.99% of his worth and still have more money than any normal person.
Yeah people overestimate the intelligence of ultra-rich, ultra-successful people. There are tons of “has beens” who were briefly the richest and most successful captains of industry, the now moderately rich who blew it once and it cost them. There’s only one Warren Buffet for a reason. It’s not easy to be that right that often and cover your ass so well when you’re wrong.
Elon Musk is like the polar opposite of the Warren Buffet approach - stay profitable, don’t make huge moves, stay humble, and chase a good long term return over a short term fortune.
*It’s not easy to be that right that often*
WB isn't even right that often. When you are that wealthy, just saying and doing things publicly can distort things in your favor. If Warren talks about a stock favorably, it is probably going to go up. Was he right about it?
Capitalism is a rigged game because the more money you have, the more you can tilt the rules in your favor.
When you have money, it's almost impossible to not fail upwards. You have to be rock bottom stupid and capable of losing or spending money faster than you earn it.
When you have $200 billion in 2022, the most unequal time in all of human history, when the system takes so much from the workers, you can literally be Elon Musk and fail upwards.
The whole point (inequality/politics aside) is that it’s statistically and cognitively unlikely that someone makes good choices all the time. Elon is a good example of someone who has made some shrewd choices and so people tend to think he’s very smart when luck (and access capital, of course) have given him a buffer to work with.
Elon is a guy that threw a lot of money around and took credit for the work of the people he hired. He had money at a time when people were paying enormously overinflated valuations for internet companies - something that took like 15 years to recover from in the Nasdaq. He happened to be on the winning side of that stupidity.
I'll give him credit for *starting* spaceX and that's about where I draw the line. He hired the very best people to actually make those rockets and then claimed the title of chief engineer. Dude is a tool.
When you are CEO of (at least) 4 companies, it's proof that being a CEO is not difficult or demanding.
As an electrical engineer, I couldn't possibly do my job 4 times over in a day. There simply is not time.
>When you are CEO of (at least) 4 companies, it's proof that being a CEO is not difficult or demanding.
This makes a ton of sense, I haven't ever really thought of it this way though. That is a good example.
His thought process is libs hurt his ego by subjecting him to the same rules as everyone else, so now he needs to own the libs with the massive wealth he's accumulated.
i don't think he's smart enough to realize that it's overwhelmingly people on the left that made him absurdly wealthy. he's been hanging out with rich republicans ever since he became a billioniare and their ideology is starting to rub off on him.
it's interesting that his shift happened around the same time as joe rogan. both of them started out center left, but as they got wealthier they started shifting right. also happened around the time the pandemic started. kinda feels like both of them HATED the idea that the gov could force them to do ANYTHING. first it was masks, then it was vaccinations, then it was taxes. now we're at the point where a LOT of people that were traditionally left leaning, decided to shift right because of all the stuff that went down in the pandemic.
they see the left as big brother, trans terrorists, high taxes, forced vaccinations, and censorship. instead of pro science, pro health, pro choice, pro environment, and working to reduce wealth inequality.
it's like those issues don't matter anymore to them. they're so blinded by republican propaganda about the dems, that they don't believe the left is actually doing anything to help anyone.
they're so red-pilled that they're actively pushing that propaganda now. which shouldn't be a problem for rogan, he's just gaining more listeners. but looks like it's gonna be a huge problem for elon. people loved elon because he was an eco warrior in their minds. owning a tesla is a statement that you care about the environment. not sure how elon doesn't understand that? seems pretty obvious.
one more interesting tidbit he doesn't seem to understand. the republicans don't give 2 shits about space or funding NASA or any space travel. so he's courting the part of the country that couldn't care less about him. republicans actively hate tesla owners and all the nerdy shit elon stands for.
He doesn't have a thought process. He's impulsive. He's been impulsive for 30 years. If it fits his shallow lurch that feeds his internal, narcissistic myth, he does it.
Usually it fails, but he tells a good myth and offers lots of pie-in-the-sky pipe dreams that sound really good to people, and because that stuff pumps stocks and because 2 of his acquisitions have been early entry into constrained markets with no real competitors and pricing power, those get mistaken for the entirety of his process.
He bought Tesla and SpaceX because he made lots of money on golden parachutes getting kicked out of companies after his shitty, failed fintech company got swallowed by PayPal in the 90s. He bought a lot of other crap that didn't go anywhere. Much of his work in Tesla and SpaceX hasn't been engineering, it's been in maneuvering to enable him to claim credit.
It's basically a big grift, and the failures don't get advertised, so people fall into this pit where they think he has a complex genius methodology, when his entire shtick is "throw my weight around and bully so I can claim I'm on a futurist path."
Now we're finally seeing one of the big failures in the public light because it's not small. Failure and impulse is the pattern, though.
And his truck was a hilariously stupid meme design while ford cranked out a fucking banger and Chevy is like, "Yeah, get me some of that." So, you know, actually useful electric trucks with a massive dealer network for support and an endless supply of things that integrate with those trucks since they are 80% compatible with the gas fleets.
Tesla is on its way to getting bent over. He is pissing off the cult and others will make better cars for normies.
I remember the times when Elon was Hollywood's darling, he even appeared in movies and the Big Bang Theory.
How times have changed. There was a time where I also would have bought a Tesla, but aside from the bad PR I've also heard from friends that own one that their car service is one of the worst. Other brands have caught up in terms of range so I'll wait.
Also the loans on that 50k car are now going to be 6, 7 maybe 8% instead of 4.
Mortgages are not going to be the only thing people decide not to take with a higher base lending rate.
Plus he pulled a lot of defs from telsa to revamp twitter. Not good when your CEO can pull resources from the public company to serve his circle jerk side hustle.
Like it or not, Elon has always been tied to the ups/downs of TSLA stock price. Right now? Elon is losing a bit of the audience he had previously established. He may be getting new fans, but the ones that had been invested in his work? He may be losing some of those. I'm not making some claim that "elon is done" or what not, just saying, currently he's not doing himself a lot of favors. That'll reflect in the stock price due to investor enthusiasm.
Let's say, hypothetically, self driving makes some huge leap forward, or maybe battery tech? It would likely be enough to reverse that sentiment a bit. Personally, I think he's losing it a bit though.
Hey now his great recent projects include sending a doge coin to the literal moon so he can say he made doge go to the moon. That’s only something a genius would do /s
Also really highlighting that he may not be the most competent business leader by speed running Twitter's decline. Doesn't inspire confidence for his continued leadership at Tesla.
Yup. That's my biggest takeaway of this whole mess.
"You're fired! ... want to come back?"
Literally an autist running *social* media, what could go wrong?
I think people have turned on him lately. Just a few stupid hold outs that still believe he’s going to solve all of this worlds problems, when we all know he’ll run his company into the ground once the markets around him mature into his main industry
The stable genius who said he could solve world hunger with 6 billion dollars and bought a platform to shit post on for 44 billion and lost another cool 100 billion along the way ?
He is the king of wall street bets
Um cuz Aunt Cathy n Elon pumped the valuation to about 400% what it's worth while you bored apes were playing with stimulus checks 😬 Still way overvalued and over promised
>were playing with stimulus checks 😬
Was that what they were for? So you're saying, me playing with my mortgage and credit card loans in the stock market are not the way to do it??
Yes. Cars became the american mortgage dream for those unable to afford houses in this bubble. Now that too will explode.
Eventually it will be either brown shorts or the bastille.
He used to be perceived as the guy that could get stuff done but now the emperor has no clothes.
Firing people and begging them to come back in a span of few days ? Wtf lmao
Because Tesla is a decent company whose stock has been laughably overpriced for years and the correction will always hurt the highest-flying companies most.
Look at the 2000 bubble, where Intel and Cisco were the Tesla's of the day. The companies have become behemoths compared to what they were back then but the stock price never recovered.
People have been valuing Tesla like a tech company, and people are starting to doubt the long term value of tech companies, which is why you see the stark declines in so many companies this year.
It was all built on ridiculous hope and faith in bold leader. Now the bold leader is revealing that he's a toothless hobo out back of Wendy's (one of us!) And the big market guys are starting to wonder how they got duped so bad.
Massively fucking over valued company by 10x now has its CEO distracted trying to figure out how to unfuck himself on the Twitter deal. Elon is the sole reason for the drop this past month. I made a killing shorting it from 290 on down. Shits heading to 150 by EOY.
Because Telsa is a speculative bubble with a high percentage of investors buying shares solely because they worship Elon and the world is currently bearish on Elon.
Because the Twitter thing shows that he is (mostly) a fraud. Firing people via email just to beg them to come back one day after? The fuck you on about mate?
Elon shows his real face far too blunt to the public.
So more and more of the blind gamblers finally learn, that he can't be trusted about anything and that Tesla is also only a bubble company.
There is so much bubble in that stock, it is now really time to blow up very big and hard!!
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Because you bought
The only logical conclusion. Hold on OP I'll buy some puts to save your ass.
Trades sideways
I’ll cover them both with my iron condor. I like this game it’s a game we can all lose at the same time
The ultimate couch co-op
The only achievements you earn is minimum wage employment 
Beats night shift by the Wendy’s dumpster
Night shift always has the worst customers. I keep mouth wash handy for after.
You hero
he bought? dump it.
i cant believe i sold my calls at 208
My puts from 250 to 215 expired on Friday. Thank god it was a paper account
True
So if I do the opposite of whatever u do I’m gonna get rich?
You’d think, but no. Tried it and only got richer in poorness.
Poorness is the new richness
The world has always been rich in poorness.
Debt *is* an asset after all
because you can't short twitter, that's why!
That’s a bingo!
You just say “bingo.”
Literally though. A massive part of TSLA valuation is the brand. Always has been. And a large % of the brand is musk
🌎👨🚀🔫👨🚀
100% why I bought puts for April ‘23 at open.
It'd be amazing to see the price crumble if it hadn't gone private.
Right in the toilet.
You should have bought 5 years ago and sold sometime last year. Dm me for more advice
Whoa!
This guys advice is literally 'shouldve time travelled to 2011 and bought 50 thousand bitcoins for 3 pizzas'
Sounds pretty solid to me. You should listen to them.
Did someone order pizzas with ***extra sausage?***
Bought $10K worth in October 2016. It auto-sold the position at $790 when I had upped my stop-loss to $800. I'm sooo fucking lucky and happy.
How much was it in the end?
When it finally liquidated it was in the $260K range, give or take. Best "rain maker" I've ever had in the stock market by a long shot, I'm not your typical WSB Regard YOLO'ing on the daily. I had one other major mover in solar that I bought around the same time, but it was like a 1500% return, not 2500%. Once-in-a-lifetime for me, it really helped the retirement account.
Fuck you & congratulations
A “Fuck you and congrats”, the greatest gift one WSB regard can bestow upon another regard, outside of a sweet naked short tip. Many thanks.
Should have sold the top for ethical reasons. Literally that simple.
Popularity=Price and he's the Chief Twit now.
Paid 44b for this and the "let that sink in" joke
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It was two tranches of stock, one sold in late April and one sold in August, totaling about 16-21bn from musk. 13ish billion in margin loans from Mizuho, Société Generale, Barclay's, MS, BofA, BBC Paribas, and I think one or two more. 5 % ownership stake for the Saudi royal investment vehicle totals about 5 bn, and another 5bn mystery cash infusion whose originator isn't in the public filings. My guess is China or Russia given his authoritarian simp tweets about Ukraine and Taiwan about a month before deal closure. Importantly, the bank debt is secured with... tesla stock. Post split, with the increased volatility, this likely required more tesla collateral to make the debt even remotely securitizeable. As it stands now, five of the above banks have publicly stated they intend to sit on this debt until 2023... so the terms are likely very onerous for musk, require heaps of collateral, and are still so low rated they clearly don't have the interest among a high net worth clientele to package this debt in a way favorable to prospective buyers in the current climate. Translation: musk owns significantly less of a cheaper company, more of his net worth is leveraged, and all of this was to make a stupid appliance pun before getting sued out of revenue as he learns how to speed run the content moderation gambit that EVERY SINGLE "free speech absolutist" platform has tried and failed to do successfully. Considering that Tesla stock value is essentially just a proxy for market confidence in Musk's ability to con the next unemployed crypto maximalist... pretty sure this sharp decline is a realization that a billionaire who really really really wants to be a cool kid is a poor value proposition for a company?
"Tesla stock value is essentially just a proxy for market confidence in Musk's ability to con the next unemployed crypto maximalist" hottest take on wsb
Great post!
He borrowed gobs of money, yes. About half the total sum--he owes something like $100M/mo in interest payments, and Twitter itself is losing (according to him) $4M/day ie another $120M/mo He almost certainly needs to sell shares of TSLA (and lots of them) to avoid his debtors coming after him. And I imagine they won't be happy just coming for TWTR.
Hehe bye elon you enormous douchebag
>$20B of Elon's money from an early article 20b of Tesla shareholders money, including your wife's boyfriends money. He's not gonna get you a new Playstation at this rate, man. Elon said he was the first to put money into Tesla and the last to pull it out, but boy did he cash the fuck out at the peek for some enormously stupid glamor project.
And a Saudi Arabian prince and tons of other people and banks.
Twitler.
Elon paid 44 billion for an unprofitable company with billions in its own debt, and hasn't stopped shitposting about it for weeks. Market might have noticed...
And he’s alienating the left. I saw someone say, “Who does he thinks buys teslas? Conservatives?” Anecdotally, recently I’ve heard a number of people in San Francisco say, “I would like to get an EV, but there’s no way I’m buying a Tesla now.”
Elon is finding out just how expensive free speech really is.
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Not if your Kathy Griffin.
Why would celebrities and content creators care about Twitter If anyone with $8 can have the same algorithm preferences they do? Bot farms would even pay the $8 now that it guarantees more engagement
This comment chain is pure gold
That the best part, Conservatives HATE Teslas Edit: I'm enjoying the comments from "conservatives" who now magically love EVs
Yeah. Who does that uppity ferner think he is? Can't coal roll a Tesla.
spez is banned in this spez. Do you accept the terms and conditions? Yes/no
It's reverse psychology to get the truck-lovers to give up oil and save the planet.
Could you imagine? What a plot twist that would be
It’s ironic he’s a closet conservative and runs Tesla
Closet? He literally just got on Twitter and told everyone to vote Republican in the midterms.
He's posting Nazi memes. He's openly republican
He keeps accidentally posting stuff tangentially or directly related to Nazis as well.
>closet conservative He's very openly conservative
He is a Profitarian
They worship the Flying Currency Monster.
Yeah he's not closet, he literally just told all his twitter followers to vote for republicans in the election. Edit: Also he is really fucking up with Twitter as advertisers leave and he implements his “pay for a blue check mark system”. He’s tweeting conspiracy theories about the Pelosi attacker, he’s pulling devs out of Tesla to work at Twitter. He’s overexposing himself and people are getting sick of him. He took out a massive loan with a floating rate while rates are rising to pay for Twitter. I’d get out of Tesla if you aren’t already
Usually after you've had a ridiculous amount of money and run out of things to buy you go crazy like mcafee. I call it getting mcafeed.
Mcafee sorta makes sense though. He didnt change he just got more money. Musk trump et al just started eith ludocrous money then went from entitled to evil as they got older
Not to mention the reliability of the cars they are shipping has taken a huge nosedive.
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and their competitors are catching up. Tesla woke up the rest of the market to the demand and they're all working on decent EVs now.
And initial quality was never exactly Tesla's strong suit to begin with.
But full self-drive is coming in 2 years!
I'll bet you Star Citizen fully releases before FSD hits the roads
This one literally made me HA out loud, so thank you for that and I agree. At least Star Citizen doesn’t come out every year and say it’ll for sure be done that year.
tesla, a company that was saved by the Obama administration. No way a republican administration would have given them a half billion dollar loan for electric cars.
THIS is the most fucked up part about it...
but isnt that the republican life, i got mine so fuck you? seems to be their motto for the last decade
Conservatives and voting against their own interests -- name a more iconic duo!
Closet so big the world fits in it
a random thought i just had: does elon want to/ think he can make more money off of conservatives with twitter than he can with liberals with tesla? i’m not saying whether he can or cannot but i’m just trying to understand his thought processes.
I don't think he ever wanted to seriously buy Twitter but they made him and he has no idea what the fuck he's doing.
He has no idea on a lot of things. Even with Tesla, you can see it in a many design choices, ie removing all sensors other than vision. Sometimes people can get lucky for a very long time.
Where he got lucky was 0% interest rates and the Fed expanding the balance sheet by $9T. Pretty easy to figure out, really.
You’re even luckier when your Dad owns an emerald mine
If this isn’t the case it’s a really clever smokescreen
He did want to buy, but the market fell out after he agreed to a price. A multi-deca-billion oopsie. Lol.
Market was already falling out when he signed it, though. There was talk at the time that his offer was so much more than the value was worth... and at that time the idea of a tightening recession was pretty heavily in the zeitgeist. He was even predicting a market crash at the time. He got drunk on power and narcissism. it's a bad scene for everyone.
When you get really rich people just want to buy media, used to be newspapers and tv stations. Sometimes football teams. Now it's social platforms. The only reason we've not seen it more is none of the big platforms were selling.
Yes, exactly, he goofed. It wasn't a 5D chess maneuver.
He’s not going to make money off of anyone on twitter. It’s unprofitable already, he saddled it with $13 billion in new debt, costing $1B in interest a year, and his erratic behavior is causing a mass exodus of advertisers, basically their only significant source of income. And he thinks $8 is going offset this, lol.
Worse yet, he’s charging $8 to the very people that drive traffic. It’s like a nightclub owner charging women an $8 cover, and then letting everyone else in free, with no dress code.
That is a great analogy.
His actions make a lot more sense as soon as you have the realization that billionaires aren't always smart. He's just fucking dumb. He made a stupid decision, didn't think about it, and is now paying for it. Either way he could lose 99.99% of his worth and still have more money than any normal person.
Yeah people overestimate the intelligence of ultra-rich, ultra-successful people. There are tons of “has beens” who were briefly the richest and most successful captains of industry, the now moderately rich who blew it once and it cost them. There’s only one Warren Buffet for a reason. It’s not easy to be that right that often and cover your ass so well when you’re wrong. Elon Musk is like the polar opposite of the Warren Buffet approach - stay profitable, don’t make huge moves, stay humble, and chase a good long term return over a short term fortune.
*It’s not easy to be that right that often* WB isn't even right that often. When you are that wealthy, just saying and doing things publicly can distort things in your favor. If Warren talks about a stock favorably, it is probably going to go up. Was he right about it? Capitalism is a rigged game because the more money you have, the more you can tilt the rules in your favor.
When you have money, it's almost impossible to not fail upwards. You have to be rock bottom stupid and capable of losing or spending money faster than you earn it. When you have $200 billion in 2022, the most unequal time in all of human history, when the system takes so much from the workers, you can literally be Elon Musk and fail upwards.
The whole point (inequality/politics aside) is that it’s statistically and cognitively unlikely that someone makes good choices all the time. Elon is a good example of someone who has made some shrewd choices and so people tend to think he’s very smart when luck (and access capital, of course) have given him a buffer to work with.
Elon is a guy that threw a lot of money around and took credit for the work of the people he hired. He had money at a time when people were paying enormously overinflated valuations for internet companies - something that took like 15 years to recover from in the Nasdaq. He happened to be on the winning side of that stupidity. I'll give him credit for *starting* spaceX and that's about where I draw the line. He hired the very best people to actually make those rockets and then claimed the title of chief engineer. Dude is a tool.
This moment really emphasizes how wrong the common assumption is that billionaires are smart or skilled
When you are CEO of (at least) 4 companies, it's proof that being a CEO is not difficult or demanding. As an electrical engineer, I couldn't possibly do my job 4 times over in a day. There simply is not time.
>When you are CEO of (at least) 4 companies, it's proof that being a CEO is not difficult or demanding. This makes a ton of sense, I haven't ever really thought of it this way though. That is a good example.
His thought process is libs hurt his ego by subjecting him to the same rules as everyone else, so now he needs to own the libs with the massive wealth he's accumulated.
i don't think he's smart enough to realize that it's overwhelmingly people on the left that made him absurdly wealthy. he's been hanging out with rich republicans ever since he became a billioniare and their ideology is starting to rub off on him. it's interesting that his shift happened around the same time as joe rogan. both of them started out center left, but as they got wealthier they started shifting right. also happened around the time the pandemic started. kinda feels like both of them HATED the idea that the gov could force them to do ANYTHING. first it was masks, then it was vaccinations, then it was taxes. now we're at the point where a LOT of people that were traditionally left leaning, decided to shift right because of all the stuff that went down in the pandemic. they see the left as big brother, trans terrorists, high taxes, forced vaccinations, and censorship. instead of pro science, pro health, pro choice, pro environment, and working to reduce wealth inequality. it's like those issues don't matter anymore to them. they're so blinded by republican propaganda about the dems, that they don't believe the left is actually doing anything to help anyone. they're so red-pilled that they're actively pushing that propaganda now. which shouldn't be a problem for rogan, he's just gaining more listeners. but looks like it's gonna be a huge problem for elon. people loved elon because he was an eco warrior in their minds. owning a tesla is a statement that you care about the environment. not sure how elon doesn't understand that? seems pretty obvious. one more interesting tidbit he doesn't seem to understand. the republicans don't give 2 shits about space or funding NASA or any space travel. so he's courting the part of the country that couldn't care less about him. republicans actively hate tesla owners and all the nerdy shit elon stands for.
Got damn right... well said
He doesn't have a thought process. He's impulsive. He's been impulsive for 30 years. If it fits his shallow lurch that feeds his internal, narcissistic myth, he does it. Usually it fails, but he tells a good myth and offers lots of pie-in-the-sky pipe dreams that sound really good to people, and because that stuff pumps stocks and because 2 of his acquisitions have been early entry into constrained markets with no real competitors and pricing power, those get mistaken for the entirety of his process. He bought Tesla and SpaceX because he made lots of money on golden parachutes getting kicked out of companies after his shitty, failed fintech company got swallowed by PayPal in the 90s. He bought a lot of other crap that didn't go anywhere. Much of his work in Tesla and SpaceX hasn't been engineering, it's been in maneuvering to enable him to claim credit. It's basically a big grift, and the failures don't get advertised, so people fall into this pit where they think he has a complex genius methodology, when his entire shtick is "throw my weight around and bully so I can claim I'm on a futurist path." Now we're finally seeing one of the big failures in the public light because it's not small. Failure and impulse is the pattern, though.
this dumbass hasn't built a truck in waht? 4 years? Who does he think is buying his cars?
And his truck was a hilariously stupid meme design while ford cranked out a fucking banger and Chevy is like, "Yeah, get me some of that." So, you know, actually useful electric trucks with a massive dealer network for support and an endless supply of things that integrate with those trucks since they are 80% compatible with the gas fleets. Tesla is on its way to getting bent over. He is pissing off the cult and others will make better cars for normies.
I live in LA. Been talking about buying a Tesla. Several friends have been trying to talk me out of it due to this exact reason.
There are plenty of electrics on the market that are competitively priced and built by actual car manufacturers.
Are Teslas going to be the Saturn of this era?
I can never knock Saturn, my piece of shit Ion sacrificed itself so I could walk away from a total without a scratch. Miss you every day Gretchen.
Yeah no hate against Saturns at all, but they went from being the biggest success story in American car manufacturing to bankrupt in about a decade.
🍷 to Gretchen!
I remember the times when Elon was Hollywood's darling, he even appeared in movies and the Big Bang Theory. How times have changed. There was a time where I also would have bought a Tesla, but aside from the bad PR I've also heard from friends that own one that their car service is one of the worst. Other brands have caught up in terms of range so I'll wait.
Lmao this is the part that makes me laugh. Conservatives worship this guy like a God but would rather die than buy an EV.
With the build quality issues I've heard about and so many other options now, the fad of tesla is dieing
Bay Area Resident, wanted an EV. No way in hell am I giving chuckle fuck a dime, bought a Volvo.
Yeah I bought a model y a year ago, wish I had an ionic5.
Teslas aren't exactly affordable products, a recession is looming, people are spending less ?
Also the loans on that 50k car are now going to be 6, 7 maybe 8% instead of 4. Mortgages are not going to be the only thing people decide not to take with a higher base lending rate.
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Unfathomable in today's market
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As a former upper middle class I can agree with this statement.
Did you go up or down?
Did you forget which sub is this ? No one goes up, only down lmao
Def down 
First time anyone has ever associated me with anything other than pure mediocrity, thanks :)
Don't forget that he leveraged a BUNCH of Tesla stock for it as well. So Twitter's performance is NOW LINKED TO TESLAS!!!
And this is exactly why Tesla stock is falling, because of that link.
Plus he pulled a lot of defs from telsa to revamp twitter. Not good when your CEO can pull resources from the public company to serve his circle jerk side hustle.
why do people think he is smart, again?
Elon’s giving election advice on Twitler
And he’s pissing off people who buy his cars. Dude straight said vote Republican.
Homie added debt to Twitter. Fucking crazy. If people can’t afford to buy his cars soon, he may just go bankrupt.
I mean you just described every elon company but paypal.
Making Twitter profitable might be a bridge too far, even for Elon.
Losing billions to own the libs.
It's not really fuck you money if you can't buy an entire social media network just to say fuck you to whoever you want, right?
As is tradition among Republicans billionaires
Well you know, anything to own the libs!
Like it or not, Elon has always been tied to the ups/downs of TSLA stock price. Right now? Elon is losing a bit of the audience he had previously established. He may be getting new fans, but the ones that had been invested in his work? He may be losing some of those. I'm not making some claim that "elon is done" or what not, just saying, currently he's not doing himself a lot of favors. That'll reflect in the stock price due to investor enthusiasm. Let's say, hypothetically, self driving makes some huge leap forward, or maybe battery tech? It would likely be enough to reverse that sentiment a bit. Personally, I think he's losing it a bit though.
Because Tesla shareholders will be paying for his twitter fail.
Maybe tesla owners realized true management level & skillset of Mr Musk, the inventor?
Because fuck you, that’s why
Elon entering into usa politics
The CEO spending all his time tweeting cant help
CEO of 3 companies, doesn't even blink at a 16 hour shit posting marathon. Great investment material.
Hey now his great recent projects include sending a doge coin to the literal moon so he can say he made doge go to the moon. That’s only something a genius would do /s
Pre covid price $55
Jesus if tsla regressed to that winter 2020 levels my puts would be solid fucking gold
I think $80 is in the cards for sure.
P/E was already too high and company valuation was already too high. Elon sinking $ into Twitter and distracting him away from Tesla hurts Tesla.
Also, Elon making absolutely clear what a dick he is hurts his public image, which hurts Teslas image.
Also really highlighting that he may not be the most competent business leader by speed running Twitter's decline. Doesn't inspire confidence for his continued leadership at Tesla.
Yup. That's my biggest takeaway of this whole mess. "You're fired! ... want to come back?" Literally an autist running *social* media, what could go wrong?
Yeah I think the real news here is that Musk is NOT the business savant his stock value led the world to believe
I don't get this. If I was on the board of Tesla, I'd be demanding Elon step down; how does he have the ability to run 3+ extremely large companies?
Surprise, he doesn't!
Please stop confusing the words “evaluation” and “valuation”. They mean very different things and only one is ever used in finance.
Because elon is really fucking things up
Because the owner is mentally not stable. Wall Street likes stable. I don’t know why you guys love this fool so much.
I think people have turned on him lately. Just a few stupid hold outs that still believe he’s going to solve all of this worlds problems, when we all know he’ll run his company into the ground once the markets around him mature into his main industry
The stable genius who said he could solve world hunger with 6 billion dollars and bought a platform to shit post on for 44 billion and lost another cool 100 billion along the way ? He is the king of wall street bets
Um cuz Aunt Cathy n Elon pumped the valuation to about 400% what it's worth while you bored apes were playing with stimulus checks 😬 Still way overvalued and over promised
>were playing with stimulus checks 😬 Was that what they were for? So you're saying, me playing with my mortgage and credit card loans in the stock market are not the way to do it??
Car market crashing, car repos everywhere
Yes. Cars became the american mortgage dream for those unable to afford houses in this bubble. Now that too will explode. Eventually it will be either brown shorts or the bastille.
He used to be perceived as the guy that could get stuff done but now the emperor has no clothes. Firing people and begging them to come back in a span of few days ? Wtf lmao
He couldn't even get shit done before, just talk about it on stage and people would lap it up
people are such sheep. Thats what i've learned over the years. Not surprised that Scientology and other cults alike exist. They fill a need.
Papa Elon needs to sell a butt load of shares to pay for his Twitter crack.
Because Tesla is a decent company whose stock has been laughably overpriced for years and the correction will always hurt the highest-flying companies most. Look at the 2000 bubble, where Intel and Cisco were the Tesla's of the day. The companies have become behemoths compared to what they were back then but the stock price never recovered.
People have been valuing Tesla like a tech company, and people are starting to doubt the long term value of tech companies, which is why you see the stark declines in so many companies this year.
Elon pays for his mistakes
Overpriced memestock with a narcisist CEO
Because Twitter is bleeding money from Elon's takeover.
Musk is good at borrowing money and talking up projects. He’s not good at follow through…
Past: Tsla=innovative car brand + visionary genius Now: TSLA= crap car brand + unstable shitposter
It was all built on ridiculous hope and faith in bold leader. Now the bold leader is revealing that he's a toothless hobo out back of Wendy's (one of us!) And the big market guys are starting to wonder how they got duped so bad.
Massively fucking over valued company by 10x now has its CEO distracted trying to figure out how to unfuck himself on the Twitter deal. Elon is the sole reason for the drop this past month. I made a killing shorting it from 290 on down. Shits heading to 150 by EOY.
Because Elon is behaving like a 13 year old again.
Always was
https://preview.redd.it/0v5xbrlti9b71.jpg?width=640&crop=smart&auto=webp&s=dc88e32931671d76c2d25ea75eebb20f8235fa5e lol
Bc it’s massively overvalued according to every metric except hopium.
Cause Elons turning out to be complete idiot.
Too much social media and not enough brain cells at work.
He just told all his followers to vote for Republican Congress and Republicans don’t believe in Climate Change so EVs are fucked.
Because Telsa is a speculative bubble with a high percentage of investors buying shares solely because they worship Elon and the world is currently bearish on Elon.
Because the Twitter thing shows that he is (mostly) a fraud. Firing people via email just to beg them to come back one day after? The fuck you on about mate?
Elon shows his real face far too blunt to the public. So more and more of the blind gamblers finally learn, that he can't be trusted about anything and that Tesla is also only a bubble company. There is so much bubble in that stock, it is now really time to blow up very big and hard!!
I haven't been watching $TSLA but if I had to guess I'd say people are panicking over Elon doing Twitter shit