... and to offload a ton of bad luck onto retail bagholders.
Once the AI bubble pops, SPCX will collapse, but everyone in on the game will have gotten much more thanks to selling their stock than they'd ever put in in either SpaceX or Twitter.
“I agree with Elon now”
Meaning now I agree, and
“that SpaceX and Tesla are the 'same' company”
With ‘same’ in quotes meaning they are not literally the same but conceptually they are the same.
FTR I do not agree they are the ‘same’ company and I think the circular relationships between Musk’s companies is kind of like a shell game.
1. Power. He can amass more power by concentrating it in SpaceX. There was a lot of financing needed getting Tesla to mass produce vehicles… where Musk likely conceded more power (and money) than he wanted.
2. SpaceX (sans xAI and Xitter) is the one business he’s got really generating a profit and likely will be able to continue that trend. It lets him paper over financial issues that would show up in the balance sheets of individual companies.
The roadster uses Space X propulsion tech, the cybercab uses starlink, grok is in all Tesla cars, both companies share Terafab. But then Tesla also supplies batteries and cybertrucks to Space X etc.
Did I miss something big on the stock market or are these actually still two different public companies? How do the shareholders of both of these (ostensibly different, kind of unrelated) large publicly-held companies feel about them being conflated like this? Is there any historical precedent for this situation?