Summary
Elon Musk announced that his AI startup xAI has merged with his social media platform X in an all-stock deal, valuing xAI at $80 billion and X at $33 billion.
Musk stated the merger will combine AI expertise with X’s broad reach.
xAI, launched less than two years ago, competes with OpenAI and has developed the Grok chatbot, integrated with X.
I was also today years old when I read a headline about DOGE heading into the SEC.
Weird.
A true dream come true! Just what everyone has been begging to happen.
Two companies no one wanted now one company no one wants.
Company worthless? Sell it to yourself for a ludicrous cost to increase your market value!
You mad, wage slaves?
Then immediately borrow real money against the paper value of your new merger company. Pocket a few billion and use some to bribe the feds to not audit you.
It’s crime all the way down.
No need for a bribe. Just fire all the financial investigators.
why does this feel like a twitter bailout. so he gets to shuffle the financial deck of these 2 so twitter isnt a complete failure monetarily?
It’s not a xhitter bailout. It’s a robbery of shareholder investment.
If he wants to use xhitter content for grok, that’s gonna be most fucked up LLM of all.
It’s gonna make Bender look like a commie saint
yes, he uses the hype investor cash that poured into the ai boondogle to cover his insane twitter purchase and literally bail himself out of his stupidity
How do i do that with a mortgage?
That depends, do you have the “rich” status condition?
I have not yet unlocked that perk
Keep tuggin on them bootstraps and you’ll get there eventually
Have the most money in the world.
I don’t think I need a mortgage at that point
Now you get it.
You need another property. Work a shady deal with a bank to massively overvalue that property. Borrow against that equity.
“Well what do I do with an overvalued loan on my other property now?” I hear you ask. Simple! Have another another property. Work a shady deal to massively overvalue…
Gotcha. Ok, please recommend a shady bank that is interested in sketchiness at my level
axos bank apparently, but you got to know the shareholders.
How is this even legal. Fuck
Because DOGE controls the SEC.
This is blatant, naked plutocratic klepocracy.
Because money.
“I will make it legal…”
—Senator Palpatine
Hmm…
Manipulating stocks between companies you own for fun and profit…
Sounds pretty Ferengi to me.
And no accountings shall be held…
🙄 🤡 🤦♀️ 🖕
He essentially did the same thing with Solar City a decade ago. Although that was “owned” by his cousins and he bailed them out with by buying it for a few billion.
Elon has violated securities laws blatantly for years now. Yeah, he won’t be held accountable. And a good half of people still wonder why inequality is such a bad thing.
Bimbo AG Blondie: looks good to me! Nothing illegal.
oh cool, I just bought my own student loans and it says here that the federal government now owes me triple back what I’ve paid plus interest, isn’t that something?!
Musk stated the merger will combine AI expertise with X’s broad reach.
Ah yes, the famous combining two losing strategies, so they can lose money twice as efficiently.
This reminds me of when Kmart bought Sears.
At least neither Kmart nor Sears were Nazi hangouts.
Well, Sears went under because the CEO was a True Believer in the Libertarian/Atlas Shrugged/Starve The Beast method of running a business. He genuinely thought that making stores and even individual departments fight for ever reducing funding was going to make them better. What he learned is that when people have their livelihood at stake, they fight dirty and lie.
When Sears finally closed forever, he said he regretted it. Probably not as much as the people whose lives he ruined.
Neither of those valuations are supported by reality.
So… fraud.
Thats a $11B writeoff btw
He can’t even justify to himself that Twitter is worth the $44 billion he (and investors) paid for it.
And you’d think a self-perceived business genius would be able to significantly increase the value of said purchase, not lose billions.
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Idk man, he’s lost like $200billion dollars or something since the inauguration. Is more unpopular than ever to the point that his car company’s sales are crashing by >50% in some markets.
Maybe he’s just an idiot clown in an clown idiot system.
So we’re just making shit up now?
To be fair, a social media platform IS valuable data for an AI company. But we all know this is just a self-dealing bailout using investor money.
The only Illigal thing in murica now is being poor
And protesting against Israel.
