Comment on Elon Musk says he needs $1 trillion to control Tesla's robot army. Yes, really.

• Reverendender@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

  Banks lend him real money based on the fake money

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  • halcyoncmdr@lemmy.world ⁨1⁩ ⁨day⁩ ago

    I count that in the sold category. Because they just get more loans to pay off the previous ones, or default and the bank just takes the shares and does it again because what the loaned is less than the share value. All the while avoiding income and capital gains taxes.

    It’s why boycotts and cancelling subscriptions actually do work when done in large enough numbers. Their money can disappear very quickly if shareholders get spooked.

    It’s also why Tesla isn’t being affected as much now despite Elon pulling the mask off and going full Nazi, resulting in massive sales drops. Years and years of short sellers and complicit media trying to tank the brand, largely funded and promoted by things like entrenched oil interests and competing car brands have trained many shareholders to ignore a lot.

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    • prole@lemmy.blahaj.zone ⁨1⁩ ⁨day⁩ ago

      So how is that fake? I can’t do any of those things you mention in the first paragraph.

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      • halcyoncmdr@lemmy.world ⁨1⁩ ⁨day⁩ ago

        So how is that fake? I can’t do any of those things you mention in the first paragraph.

        You’re not rich enough where banks know you always have stock available to give them. Where there’s virtually no limit to your stock pool that the bank can just liquidate after the fact. You need to be in the top .1% for that. The fact you’re on lemmy means that’s not a possibility in the slightest.

        Getting loans based on assets is not at all the same as selling those assets.

        It is for the rich. That’s why so many don’t care about their traditional salary. That’s why so many went out of their way to advertise they were taking a $1 salary during the recession, or even today. Because their salary is subject to income tax, but loans are not. You can get the same end result of cash in hand by receiving your pay in stock, then taking loans against that stock.

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• Jhex@lemmy.world ⁨1⁩ ⁨day⁩ ago

  this is the most naive thing I’ve read on lemmy… blessed be your innocent mind my child

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