this post was submitted on 15 Mar 2024
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SpaceX, from a financial standpoint, is just an elaborate Ponzi scheme for Musk, who treats all of his companies as his private fiefdom and personal piggy bank. In reality, none of them are genuinely profitable, and depend on government subsidies and capital investments to survive. The goal is to just build a barely viable business and then scam people with bullshit promises. Any real cash flow is immediately converted into cash for his personal use. Though from time to time, he uses that cash prop up another of his ventures. Very likely, all of this will come crashing down at some point, and it will be revealed that his companies are nothing like what they seem.
I feel like Twitter (I will always deadname it) was the beginning of the end for him. Unfortunately, things like this can take years or decades to resolve, but whereas 5 years ago he had the midas touch and could do no wrong now there seems to be nothing but a stream of negative news about him.
Time will tell
Naw, imho it was the Thai kiddy-submarine incident. He seemed at least semi-plausibly not horrible up until then; but then firmly established himself as just another piece of shit billionaire when he couldn't handle some diver stealing the spotlight from him.
Good point, I had forgotten about that nugget in the sea of shit nuggets around that man.