Is Elon Musk spending $ 44 Bazillion on Twitter a sign of Late Stage Capitalism?

[post]

Is Bezos trolling his non-racist enemies every day? I don't think so. I don't think your comparison is accurate.

Why did he choose this hyper indoctrinated moron?

The Washington Post - Wikipedia

en.wikipedia.org

..

Publisher	Fred Ryan[1]

 

[Eriech]

No, Sam Bankman spending millions to buy Joe Biden and Mitch McConnell and then declaring bankruptcy.......

 

[What if...?]

Here's a video of the state protecting private property:






Except it does function without state support. It even functions with the state actively trying to destroy it. See post 40.

Yours is a micro example.

I’m talking about macro. The game libertarianisms founders play.

 

[What if...?]

That isn't accurate.

I'll agree, one of the purposes of a government is to protect private property of the citizenry, and that does help maximize the benefit of capitalism.

However, as long as property is chiefly held in private hands, then the system is capitalist.

It cannot function well without a government to support it. We need, as a practical matter, laws to protect against civil and criminal wrongs, legal structure to help facilitate the transfer of payments, real property, and personal property, etc., but it can exist without those things, in a technical sense. I agree, though, that it would be rather fragile and would fall apart quickly.

Property is chiefly held in private hands in the democratic socialism countries, but republicans don’t consider them capitalist.

Unfettered, adoption of LF capitalism would result in those already far ahead consolidating everything they don’t already own by Simply buying them or running them out of business and stealing their customers.

Then a long unpleasant grind until there is only One. Because at the end of the day that’s what it is all about. Who can be the richest and most powerful. Base, animal behavior elevated to primacy over the planet.

 

[nvflash]

Talk to me in two years and let's see what Twitter's is valued at.

Musk is either an evil genius or a complete fool, and Twitter will be the metric by which that is measured.

 

[post]

Talk to me in two years and let's see what Twitter's is valued at.

Musk is either an evil genius or a complete fool, and Twitter will be the metric by which that is measured.

Exhibiting erratic personal behavior of $44 billion offer for twitter has so far cost Musk half his prior personal wealth.

He's peaked, tide going out for the rest of his career. His BS has hurt too many, too quickly.

Bloomberg - Are you a robot?

www.bloomberg.com

Nov. 8, 2022

Musk's Wealth Hits 2022 Low in 48% Plunge From $340 Billion Peak​

The Tesla CEO's net worth is tumbling again, with his Twitter tinkering raising investor concerns that he's spending less time focused on his electric car maker.

 

[nvflash]

Exhibiting erratic personal behavior of $44 billion offer for twitter has so far cost Musk half his prior personal wealth.

I'm not sure about that, the markets are down due to a lot of reason that have nothing to do with Musk or Twitter.

How much of his own money did he put up?

Wasn't it like $13 billion?

 

[upsideguy]

Maybe, but it's not characteristically different than Bezos buying The Washington Post.

It is different as the Washington Post remains a viable business; Twitter, currently, is not.

 

[post]

I'm not sure about that, the markets are down due to a lot of reason that have nothing to do with Musk or Twitter.

How much of his own money did he put up?

Wasn't it like $13 billion?

Peanuts, compared to the damage he caused to the S&P 500 and NDX 100.

S&P 500 Investors Have Lost Billions on Tesla Stock | The Motley Fool

Adding the electric vehicle pioneer to a key benchmark hasn't worked out well.

www.fool.com

May, 2022 seems like a long time ago.

New Report Suggests Tesla Will Dominate S&P 500 By 2030

Tesla may be severely undervalued, even with shares at around $1,000, according to a report written published by Worm Capital.

insideevs.com

 

[nvflash]

the damage he caused

Markets were going to be down anyways.

I fail to see in real coronation between Musk's sale of his own stock and the broader market declines.

 

[post]

Markets were going to be down anyways.

I fail to see in real coronation between Musk's sale of his own stock and the broader market declines.

48 percent?

Tesla, Inc. (TSLA) Stock Price, News, Quote & History - Yahoo Finance

Find the latest Tesla, Inc. (TSLA) stock quote, history, news and other vital information to help you with your stock trading and investing.

finance.yahoo.com

 

[nvflash]

48 percent?

Tesla, Inc. (TSLA) Stock Price, News, Quote & History - Yahoo Finance

Find the latest Tesla, Inc. (TSLA) stock quote, history, news and other vital information to help you with your stock trading and investing.

finance.yahoo.com

View attachment 67424973

Tesla stock had an amazing run between 2020 and early 2022.

Likely it was just overvalued, smart of Musk to sell at a profit.

However it remains to be seen if what he spent the money on is going to be a profitable investment for him.

 

[ColdHardTruth]

Wealthy influential people own Twitter - all is fine. Another wealthy person buys Twitter. End of capitalism ensues. LOL

Elon Musk is, was, and will always be a rat. He is an agent of the MAGA hordes and bought Twitter because the reich-wing did not like getting banned for spreading hate.

Stop defending Musk and the MAGA hordes.

Thanks.

 

[Fishking]

How many businesses do you think use(d) Twitter?

Any business is free to use Twitter. If they choose not to that is them disrupting their own lives, not Twitter.

You're kind of all over the place here, and I frankly think you're confused about capitalism and the economy as it relates to the involvement of government. There is no sustainable economic system that exists, or can exist, without government involvement. Whether it's a King in control or the peasants. It's never been about the size of government's hand in the economy, it's about whether that hand lifts wealth up to the rich or allocates resources to allow for the function of a society. In a healthy, sustainable democracy, we decide that via the political process. In a broken, failing democracy, corporations buy politicians, and they decide.

People like @aociswundumho advocate for more of a feudal system, where the rich can right the rules, and we bow to edgelords like Elon Musk; I advocate for the democratic process. Shared power rather than consolidated power in the hands of a few people (or one) and praying that they act in my interest because they own the libs.

I'm not all over the place at all. Capitalism is THE best model. I never said it had to be laissez faire capitalism. Of course there is going to be government involvement, at some level or another. When there is freedom, including economic freedom, there are going to be hierarchies that are created. Not all hierarchies are bad. For example, an athlete could put in a lot of hard work to rise to the top of competitive levels, does that mean he got there dishonestly and that some overweight and out of shape couch potato is unfairly held down for a position on team? Same goes for economics. Someone can find a niche area and help fulfill that need, and become very successful. Look at the areas where Musk was involved, be it PayPal, Tesla, Starlink, or SpaceX...these are all areas of innovation's cutting edge. He has facilitated advancements and thousands of jobs. Why is that a problem?

Let's face it, why are you ranting about Musk and not Bezos? If you want to look at job killers vs creators, Bezos' Amazon is much more of an economic pariah than anything Musk has done, which is arguably been all beneficial. Be honest...this is a partisan rant against Musk because he doesn't believe in the lefts' view of ideological censorship.

 

[MrNiceGuy]

Elon Musk is, was, and will always be a rat. He is an agent of the MAGA hordes and bought Twitter because the reich-wing did not like getting banned for spreading hate.

Stop defending Musk and the MAGA hordes.

Thanks.

That sounds ludicrous. MAGA hordes. LOL. Your post requires no response. Go back to your narratives.

 

[ColdHardTruth]

That sounds ludicrous. MAGA hordes. LOL. Your post requires no response. Go back to your narratives.

I know the truth is difficult for the right-wing. It's okay.

Go back to your rallies.

 

[StillBallin75]

Eat the rich.

Man literally ain't done shit in life but be born with money. All the supposed "success" of his companies it's now apparent, came despite him and not because of.

Dude hasn't done an honest day's work his entire goddamn life.

As the saying goes, born on third base but thinks he hit a triple and actually did something.

 

[nvflash]

I know the truth is difficult for the right-wing. It's okay.

Go back to your rallies.

The "truth" of what?

That Musk is a businessman and he made an acquisition of Twitter with the hopes of making a personal profit?

Or that he just pissed in liberal Cheerios who for some reason thought Musk was some champion of liberal causes?

 

[MrNiceGuy]

Property is chiefly held in private hands in the democratic socialism countries, but republicans don’t consider them capitalist.

No no. In Democratic Socialist countries, it's chiefly held publicly. In Social Democracies, it's held chiefly in private hands.

I don't know what Republicans you're talking about, but I'm not Republican, so it isn't me.

Unfettered, adoption of LF capitalism would result in those already far ahead consolidating everything they don’t already own by Simply buying them or running them out of business and stealing their customers.

Then a long unpleasant grind until there is only One. Because at the end of the day that’s what it is all about. Who can be the richest and most powerful. Base, animal behavior elevated to primacy over the planet.

I don't know anyone suggesting a complete lack of fetters. But, frankly, free market capitalism generally operates against complete consolidation and monopoly power, and monopolies are far more likely to be formed and sustained by governments. https://mises.org/wire/many-ways-governments-create-monopolies

 

[MrNiceGuy]

I know the truth is difficult for the right-wing. It's okay.

Go back to your rallies.

LOL, right wing....

Let's revisit what you call "truth." You said, "Elon Musk is, was, and will always be a rat. He is an agent of the MAGA hordes and bought Twitter because the reich-wing did not like getting banned for spreading hate."

First, it's not a "truth" that you all him a "rat." That's your silly opinion. Similarly, you call him an "agent of the MAGA hordes" and the only evidence you have is that he doesn't want to ban people for expressing conservative or right wing viewpoints, which, of course, is what you mean by "spreading hate" - LOL. You should be aware that the kind of bannings that Musk has expressed concern about are bannings for "talking about the Hunter Biden story," banning the former President of the US from Twitter for announcing that he won't attend the inauguration and doesn't think the election was legit, banning talk which questions the efficacy of an emergency use medication, banning talk of using a medication which is on the WHO list of "essential medicines," and questioning the accuracy of reporting on Russiagate. That's the "hate" that caused people to get banned from Twitter and Youtube, and that is what some people, on both sides of the aisle, are concerned about - that expressions of opinion are being censored and it does appear to be happening for political reasons.

That's the truth.

 

[MrNiceGuy]

It is different as the Washington Post remains a viable business; Twitter, currently, is not.

If Twitter isn't viable, then it was certainly less viable before Musk took over, since he's engaging in major cost-cutting while at the same time keeping the platform approximately the same as it was before.

Washington Post, moreover, is on track to lose money in 2022. So, yeah. https://www.yahoo.com/now/washington-post-poised-lose-money-181238037.html

 

[Gimmesometruth]

If Twitter isn't viable, then it was certainly less viable before Musk took over, since he's engaging in major cost-cutting while at the same time keeping the platform approximately the same as it was before.

Washington Post, moreover, is on track to lose money in 2022. So, yeah. https://www.yahoo.com/now/washington-post-poised-lose-money-181238037.html

In MNG world, Elon's losing over half of the advertisers since he bought it....is keeping twitter "the same".

good grief

 

[MrNiceGuy]

In MNG world, Elon's losing over half of the advertisers since he bought it....is keeping twitter "the same".

good grief

Twitter functions the same, and with the nasty politics surrounding the acquisition, one would expect some loss of advertisers who are aligned with the opponents of Musk. However, there will be more advertisers who will join Twitter as the opportunities arise.

The easy BS to just dismiss him as an "idiot," etc. - he's not an idiot. I'll just see what happens. I'm not invested in it. An interesting sign is that the people that think he's such an idiot also seem to be the same people that label him "right wing" and "MAGA" - interesting, that correlation... lol.

 

[Checkerboard Strangler]

If modern capitalism is functioning well, and it produces an Elon Musk, who can effectively burn $44 billion dollars and disrupt countless lives / businesses 'for the lols', what does this say about the system?

When I said 'modern capitalism', I'm referring to the choices that the government makes that allows single people or small families to accrue more wealth than some countries. Capitalism, of course, does not exist in any real capacity without government.

Definitely "late stage capitalism" but I don't like the term as it is way too political.
But yes the general idea is sound, it IS indeed a symptom of capitalism running AMUCK.

On the other hand, it is also something else entirely at the same time! It is a desperate attempt to seize control of an institution many see as "The Town Square".
Only in this nightmare, the "TOWN" does not OWN or CONTROL the square at all, and the square happens to be a piece of private property owned by one individual.
That is not healthy for the town...ANY "town".

Should a "town square" even BE a profit oriented corporation at all?

 

[nvflash]

Twitter functions the same, and with the nasty politics surrounding the acquisition, one would expect some loss of advertisers who are aligned with the opponents of Musk. However, there will be more advertisers who will join Twitter as the opportunities arise.

The easy BS to just dismiss him as an "idiot," etc. - he's not an idiot. I'll just see what happens. I'm not invested in it. An interesting sign is that the people that think he's such an idiot also seem to be the same people that label him "right wing" and "MAGA" - interesting, that correlation... lol.

Ad buys are down across the board, some evidence has pointed to the effectiveness of online ads.

Just personally I've not been buying things via online ads the way I use to because the targeted ads I use to see that gave me the best price on something I was looking to buy just don't appear while I'm browsing the internet.

I'm not sure the reason for that.