Current Affairs Elon Musk

[Martin Alvito]

Narcissism begets more narcissism.

They’re like 2 peas in a pod.
Elon probably admires him because he sees so much of himself in him.

The same way Kanye West and Trump were brown nosing each other at one point.

Usually what happens with those people is they get very tight for a while, then eventually fall out.

 

[ArtetaMoney]

He’s a proper helmet.

 

[Tommy Chong]

The banks that financed the deal have not been able to sell on the debt, as would normally be the case in very large loans. The loans are still sitting on their books.

If you can't realize revenue from your assets, then at some point they become toxic, then the bank is forced to make tough decisions.

He has funding needs in excess of cash flow somewhere. Twitter seems the most likely candidate. A quick glance at news stories suggests that the underwriters of the shotgun marriage are all declining lowball $0.60 on the dollar offers on the debt.

If the finances were not a disaster, those Wall Street firms would receive better offers. The whole fiasco reminds me a bit of the financial crisis shotgun marriages, in the sense that on some of those deals we were probably all better off just having the government/Musk just make the distressed companies/Twitter whole, then legislate to fix the problem going forward.

Unfortunately, legislative solutions are not feasible with Congress in its present state, so we get what we get from regulators and the court system attempting to use their delegated discretion to paper over the cracks.

Then they'll be biting your hand off for this offer. The bank has to make the call. And you never know with Elon, he do or say something tomorrow that could further impair the value the loans.

Usually what happens with those people is they get very tight for a while, then eventually fall out.

People like that are severely emotionally stunted and are incapable of making genuine connections with other people. They'll only entertain you if you have something to offer them. The moment you don't, then they'll drop like yesterdays news!

He’s a proper helmet.

Of monolithic proportions!

 

[sdk]

With a name like Elon, I would imagine that he was bullied mercilessly. It might account for some of his behaviour.

I imagine the bigger kids used to flip him upside down and shake him by the ankles until all the emeralds fell out of his pockets.

 

[Martin Alvito]

If you can't realize revenue from your assets, then at some point they become toxic, then the bank is forced to make tough decisions.


Then they'll be biting your hand off for this offer. The bank has to make the call. And you never know with Elon, he do or say something tomorrow that could further impair the value the loans.

Taking, say, a billion dollar writedown is not something most financial institutions can do casually, due to reserve requirements. If they sell, mark-to-market means they have to eat the loss and, if stretched, also come up with those funds to stay kosher with the Feds. Most of these banks probably are stretched given market conditions. If none of them sell, they don't have to eat the loss yet, though that creates other problems down the road and potentially further losses.

It's more or less a perfect storm of rising interest rates, a delayed purchase, a large issue and a company whose fundamentals are probably no bueno. It will probably unwind, but that may not happen quickly.

 

[Tommy Chong]

Taking, say, a billion dollar writedown is not something most financial institutions can do casually, due to reserve requirements. If they sell, mark-to-market means they have to eat the loss and, if stretched, also come up with those funds to stay kosher with the Feds. Most of these banks probably are stretched given market conditions. If none of them sell, they don't have to eat the loss yet, though that creates other problems down the road and potentially further losses.

It's more or less a perfect storm of rising interest rates, a delayed purchase, a large issue and a company whose fundamentals are probably no bueno. It will probably unwind, but that may not happen quickly.

Ouch! No one can predict the future. It’s a gamble

And meanwhile those loans are accruing interest! Yeah, it’s going to have a massive effect on the income statement.

 

[Nymzee]

The first few pages of this thread are interesting seeing who his fans were/are lol

 

[catcherintherye]

If the fundamentals are so solid why did Musk sell $3 billion worth at their 2 year lows?

Short answer- because hes a conman.

 

[aazak]

 

[PhilM]

The first few pages of this thread are interesting seeing who his fans were/are lol

Some people had it right...

he is a dweeb

Next Bond Villain.

 

[Nymzee]

Some people had it right...

Poor @Dylan was very defensive over him. Wonder if he’s changed his tune.

 

[BlueandWhite]

Apartheid Cylde. Wrongun.

 

[LostLegend]

The ‘free speech’ bastion at it again there.

 

[aazak]

The ‘free speech’ bastion at it again there.

 

[Dylan]

Poor @Dylan was very defensive over him. Wonder if he’s changed his tune.

I think you might be mistaken. I am a big believer in credit where it is due. That whole cave fiasco was completely unneccesary from both sides, but I still stand by the fact that Musk was brought into it externally…..he didn’t initially try to get himself involved, though once he did, he did the usual billionaire crap, as I noted back then. I was “defensive” of Musk over what he has accomplished, not just wanting to brazen discard his achievements just because he is also an attention loving piece of trash.

I am a big proponent of space and space travel. SpaceX has done some absolutely marvellous things furthering technologies and I will continue to be a spacex supporter while they continue to push the envelope. I will always be thankful for what Musk has done to push that front.

I was initially very interested in Tesla, again, pushing the envelope and bringing EV’s to the forefront…..we would not have the selection we have today without Tesla taking the first step in pushing an all EV lineup. Now quality issues are rearing up like crazy with Tesla, and Musk’s bizarre decisions regarding OTA disablement of car features further pushes Tesla into the “do not buy” pile for me.

Musk is a weirdo and clearly a horrific person, and his recent behaviour over the last few years seem to be a case study in social media pushing people into extreme views, and now he has Twitter he has even more of a platform. And WE (everyone) enable it, but putting him front and centre in headlines, outrage and discussions like this.

If we want Musk to go away, much the same as Trump, we need to ignore him. He revels in the attention that his crazy views/statements/positions give him.

But go on everyone, pat yourselves smugly on the back for being “right” so much sooner than everyone else.