deleted by creator
Is this so the loans secured with X stock can’t be called in, forcing Elon to sell the collateral to pay back the loan?
Sure seems like a bullshit business move to retain control of Tesla.
X is a private company, there’s no stock. It was secured with Tesla stock.
using AI hype to finance X loans?
The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt)
Lol, he actually think the value of Shitter is still $45B, as when he bought it. That’s cute.
If I recall, fidelity wrote off most of its investment in twitter less than a year after the acquisition: https://www.forbes.com/sites/tylerroush/2024/09/30/elon-musks-x-is-now-worth-around-a-fifth-of-the-44-billion-he-paid-for-it-fidelity-says/
So the bullshit machinery is now AI driven bullshit machinery. What if AI finds it too vile and deletes itself.
I’m surprised the Twitter investors would approve this. Their worthless Twitter stock is now worthless xAI stock. How does that help them?
I guess they’ll try to take xAI public with a massively overpriced IPO.
The whole point of buying Twitter was to take it private. IPO for xAI would hilariously undo that.
Since it’s a money hole just like all of the other “AI” companies, who’s funding xAI and what are they getting out of being a slush fund for musk?
What’s the point? Is it some sort of tax scheme?
