Sen. Schumer gas for electric car trade in program?

[Random8145]

Meta and Alphabet are both near their all time highs while Twitter/X/DumpsterFire almost certainly is not, by any measure. While profit and valuation issues for Twitter were widely predicted I don't think the real-time trainwreck that is happening right now was what folks were thinking of when they made those forecasts before Musk bought it in 2022.

The irony behind his purchase is it is likely the result of him just trolling Twitter, possibly because they refused to ban the 'Elon Jet Tracker' account on the network. Unfortunately for him some contracts are indeed enforceable and a judge made him follow through on his purchase.

He either was trolling in which case he was stupid to not realize you can only go so far with that, or he genuinely offered to buy it, but then realized he had overpaid, which if so showed a lack of financial and investment sophistication of his part, which wouldn't be surprising. He had to take on a lot of personal debt to buy it.

What I find amazing is how he seems to be intent on destroying his investment.

 

[Gatordev]

I have a theory that management workload gets progressively harder as you move up the ladder... to a certain point. I believe someone like Musk, while he has worked hard in the past, is now so wealthy and powerful that he's more of a public figure and general policy setter when he has a whim (e.g. "buy Twitter"). As far as the day-to-day running of the "empire", he has people for that, who are the instruments of that policy. He's so far past the point of needing to work to live that there aren't really any reality checks on his every whim. He might still work hard out of habit, but he doesn't have to, most of the time.

I definitely take your point. But while the day-to-day running of the business is handled by his people, I would suspect he's still a type-A, must-succeed personality that wants to know about and then direct the various subsets of businesses because he can. And because, as you said, he doesn't have to get his hands dirty, he can tell people what to do but push the responsibility of any failures on those that actually executed the order.

 

[sevenhelmet]

I definitely take your point. But while the day-to-day running of the business is handled by his people, I would suspect he's still a type-A, must-succeed personality that wants to know about and then direct the various subsets of businesses because he can. And because, as you said, he doesn't have to get his hands dirty, he can tell people what to do but push the responsibility of any failures on those that actually executed the order.

We agree. All the more reason to have concerns about someone as powerful as Musk further disconnecting from reality.