Short summary: Elon gives Elon some Elon and congratulates Elon for being such an Elon, that big money boy he is. Money!
'X' Marks xAI's Spot: xAI has acquired X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion.
Submitted 2 months ago by Tea@programming.dev to technology@lemmy.world
https://spyglass.org/x-marks-xais-spot/
Comments
CosmoNova@lemmy.world 2 months ago
I’m not convinced bundling a losing business with an utterly inflated one is the right move to attract investors but then again you shouldn’t invest in an oligarchy in the first place.
Pistcow@lemm.ee 2 months ago
They’re not investors, they’re money launderers.
Prox@lemmy.world 2 months ago
These are some stupid company names.
thesohoriots@lemmy.world 2 months ago
If you put them all together they eventually spell a slur.
aesthelete@lemmy.world 2 months ago
Lol neither are worth that much.
daddy32@lemmy.world 2 months ago
I don’t know. Look where twitter helped him to get. It is a well working propaganda machine.
Flisty@mstdn.social 2 months ago
@daddy32 @aesthelete yup I'm sure it's worth quite a lot to some larger private investors
max_dryzen@mander.xyz 2 months ago
A firearm isn’t worth much money in the scheme of things either it’s real worth is in publicly displaying it on your person, and having it loaded
apfelwoiSchoppen@lemmy.world 2 months ago
A shell game.
InverseParallax@lemmy.world 2 months ago
He was having trouble refinancing given the massive drop in revenue and valuation.
So just make up a number and buy it off yourself.
TransplantedSconie@lemm.ee 2 months ago
It’s all tied to tesla and if that stock tanks it’s game over. Elmo is leveraged to his tits lol.
skozzii@lemmy.ca 2 months ago
As soon as it drops below 180 the whole house comes down.
lemmie689@lemmy.sdf.org 2 months ago
xenomor@lemmy.world 2 months ago
Didn’t he already do this same sort of fuckery with Solar City and Tesla?
MisterMoo@lemmy.world 2 months ago
If you don’t have a Twitter account there’s no reason for you to care about this at all.
Spend your limited time on earth worrying about things that matter.
Ironfist79@lemmy.world 2 months ago
An unelected billionaire committing fraud and destroying our government really does matter.
13igTyme@lemmy.world 2 months ago
I hate people that say, “I don’t care about politics, it doesn’t impact my life.”
From federal to local politics impacts every single aspect of your life.
SirQuack@feddit.nl 2 months ago
your government. We, as non-US majority users, are having struggles of our own. Your elected, fascist government isn’t anywhere near top priority for us and you should stop thinking it is.
Ulrich@feddit.org 2 months ago
I wish it didn’t matter.
homesweethomeMrL@lemmy.world 2 months ago
So the ridiculously overvalued pump-and-dump paid for the real assets that he then destroyed but will bail out with the magical cauldron of venture capital so everything’s just fine.
Can’t see any problems here.
Alexstarfire@lemmy.world 2 months ago
I have seen 3 different posts and each had a different value for X. The number sends arbitrary. Who gives a shit what he paid for his own company.
rational_lib@lemmy.world 2 months ago
It’s not all him, several other people invested in both. According to some article Elon owns 79% of X, and only 54% of xAI (barely enough to control it). Since the valuation of X in the deal is about $20 billion more what others have estimated ($12.3 billion), it definitely seems like it’s a corrupt bailout 46% funded with other xAI investors’ money, basically netting Elon $10 billion overnight.
surewhynotlem@lemmy.world 2 months ago
Saudi Royals who possibly were convinced that this is ok.
Convinced? This is how they’ve bribed him.
baggachipz@sh.itjust.works 2 months ago
lupusblackfur@lemmy.world 2 months ago
Elmo finds yet another way to pad his perceived value…
Sell shit companies (both of which you own) to yourself at exorbitantly inflated prices with “stock only” trades.
And no accounting shall be had cause steal-ionnairs just can.
🙄 🤦♀️ 🤡 🖕 🖕
turnip@sh.itjust.works 2 months ago
Blame loose monetary policy, and QE that pumps money into risk assets. Tesla and Bitcoin have many things in common.