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Eugene

(64,356 posts)

24. No, he didn't. Xitter owes billions to banks with a huge payment due.

Reply to OAITW r.2.0 (Reply #14)

Sat Mar 29, 2025, 07:12 AM

Mar 29

There were also substantial investment from the Saudis and billionaires like Larry Ellison. He broke promises to Tesla investors by selling substantial amounts of Tesla stock, and substantial funds were borrowed from SpaceX.

Elon Musk's cash comes from borrowing against the value of his Tesla stock, pumped up by investor's money. xAI is the latest gimmick to hustle new investor's money, which will now bail out another one of his ventures.

Financial engineering that would make Charles Ponzi proud.

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Highlight:

Musk's xAI buys social media platform X for $45 billion [View all] demmiblue Mar 28 OP

Worth $80 billion UpInArms Mar 28 #1

I wouldn't pay $8 for both of them. sinkingfeeling Mar 28 #8

Financial engineering C_U_L8R Mar 28 #2

I think Elon bought X from his own funds...I think $44BB? OAITW r.2.0 Mar 28 #14

No, he didn't. Xitter owes billions to banks with a huge payment due. Eugene Mar 29 #24

Thanks for setting me straight on that. OAITW r.2.0 Mar 29 #25

How long before it buys TSLA? Red Mountain Mar 28 #3

I think the computer systems for xAI are located in Kentucky. Musk wants to use xAI to house all of our government data. John1956PA Mar 28 #4

AI flipping votes................. Lovie777 Mar 28 #5

Bingo. Think. Again. Mar 28 #12

If xAI is being trained using input from X, then it is garbage. Garbage in, garbage out shall be the whole of the law. Midnight Writer Mar 28 #6

Self dealing bullshit. Voltaire2 Mar 28 #7

😒 tanyev Mar 28 #9

I'm no major player in the market, BUT BobsYourUncle Mar 28 #10

xAI investors finding out they just bailed out Musk by buying twitter for $40B, tens of billions more than it was worth mathematic Mar 28 #11

I guess he can hide the actual value of x by paying whatever he wants for it. Think. Again. Mar 28 #13

From tech journalist/editor Casey Newton on Bluesky: highplainsdem Mar 28 #15

It will just be another boondoggle. nt BootinUp Mar 28 #16

...and in the end the investors will be left holding bags of AI-generated dog turds. LudwigPastorius Mar 28 #17

Imagine some schlub i n south central PA who gets up and works everyday for Prairie Gates Mar 28 #18

Shenanigans JoseBalow Mar 28 #19

So if I use all my own money to buy all my own money, does that mean that I now have twice as much of my own money?? NBachers Mar 29 #20

Fidelity valued twitter ar 9billion Nululu Mar 29 #21

Sell your own company worth $10B to yourself for $45B and it becomes worth $45B. DetlefK Mar 29 #22

Abracadabra $80 billion angryxyouth Mar 29 #23

"Compute" is a noun now ? It's so hard to keep up with the degradation of literacy. nt eppur_se_muova Mar 29 #26