Okay, why is Musk worth so much? Bezos I can understand given how huge Amazon is? But what has Musk done that’s anywhere close to that in scale?
:trueanon: did a good series going into where all Musk's money is coming from. Its all fake, get ready for another Black Tuesday lol
Essentially the S&P andNasdaq are tied to Tesla price which is tied to the value of zero-emissions credits, right? So once “real” car companies start increasing production of zero-emissions vehicles (the Chevy Volt, electric F150 etc.) the price of the credits is going to tank, along with Elon’s wealth and the stock market as we know it.
Chuds will buy them by the dozen once gas hits $5 mark my words.
MF'sW only Tesla is making an electric truck with atleast a 6ft. long bed.
:agony-4horsemen: :agony-acid: :agony-consuming: :agony-deep: :agony-immense: :agony-limitless: :agony-mescaline: :agony-shivering: :agony-shrooms: :agony-soviet: :agony-turbo: :agony-wholesome: :agony-yehaw: :agony: :angery: :deeper-sadness:
The thing that stuck out is they're in the S&P 500 or whatever now so tons of retirement funds and stuff buy their stock xD. So they're like permanent members of :stonks-up:.
IIRC pretty much the entire internet runs on Amazon webservers which is where their real money comes from, the whole shipping thing is just setting up for to win capitalism
I may be wrong doe
But what has Musk done that’s anywhere close to that in scale?
Nothing. Everything is fake. The society of the spectacle is not a metaphor, it's literally true. Almost everything is fake
So the growth rate in the actual productive economy for all developed nations has been declining since the late 90's. This is because the rate of profit has been falling pretty consistently since then; though over a long timeline it has been declining since the second world war, it is just that the bump in profitability that came from breaking unions, killing socialism, and neocolonialism has finally lost its juice. Ever since 2008 the priests cough I mean economists have been reading the livers of rabbits cough I mean injecting low interest rate money into the economy to try and get things moving again by making investment cheaper. The problem is that the rate of profit on capital is just rock bottom right now so there isn't anywhere really productive for all that money to go.
Now in a socialist context you could invest all that in 'non-productive,' aka not profit generating, things like healthcare or public infrastructure, or education etc.... but in capitalism you gotta make the cheddar so it needs to be invested 'productively.' And NEED is the word here, money sitting is money vanishing, which has led to the a massive rise in what we now call fictionalization but Marx called Fictional Capital. Basically Capital is desperate for profit but cant find it so it is flowing into anything that promises a higher rate of return. And since Musk is one of the biggest and best bullshitters combined with both state and non state apparatuses giving the seal of approval and support of the company money has flowed into Tesla. It's important to remember that Tesla is less a car company and more of a financial company/regulatory arbitrage vehicle. This whole song and dance can keep going for a while, but once the underlying lack of real profit from the actual underlying productive economy all that 'Value' will vanish like hot air.
The funny thing is that the actual rational thing to do if you are obsessed with profit/growth would be to bite the bullet and invest in long term productive areas that would generate a lower rate but actually generate 'real' productivity increases. The problem is that fictional capital gives the illusion of higher profits while generating lower productivity so that is where capital goes.
Exactly, a system that originally functioned as a way to price and generate capital becomes a giant ponzi scheme.
Amazon is worth more than twice as much as Tesla (the relevant stat is market cap), but Bezos owns 10% of Amazon, and Musk owns 22% of Tesla. Their net worth also includes other random shit they own.
(Also Tesla being worth even half as much as Amazon is fucking hilarious. Amazon has about 40 data centers, 400 fulfilment centers, and the labor of 1.3 million workers. Tesla has 10 factories that make shitty luxury sportscars.)
Tesla has 10 factories that make shitty luxury sportscars.)
luxury lithium volcanos*
(CW: death) https://i.imgur.com/YXA3wUL.mp4
Okay, why is Musk worth so much?
Because people will buy a share of Tesla for $800 and he has a lot of shares.
If you buy into trueanon's take, Tesla is more accurately described as a stock company that makes shitty cars sometimes.
I have a theory about this. Musk is worth so much because he has to be. Everyone knows that the contradictions of capitalism are becoming more and more daunting. Our economic system needs someone to propose magical solutions to convince people that capitalism is salvagable. He makes people believe that capitalism really can innovate. He makes people think that there are veryverysmart people at the top who can come up with solutions.
We dont need mass transit we need hyperloops. We dont need to end suburbia, we just need electric cars. We dont need to reinvent our electrical grids, we just need rooftop solar and tesla batteries.
Elon musk is the equivalent of the people who are waiting for jesus to return and fix everything. He epitomizes capitalism as a religion and is more than anyone else a prophetic figure.
His net worth reflects his importance to global capitalism more than the sum total of productive forces he owns.
:cat-trans:
Idk tho
Good post, but on this bit
We dont need to reinvent our electrical grids, we just need rooftop solar and
teslabatteries.Depends on the area. For example, fire prone areas would be at times better with local power generation rather than power lines feeding in. Some of the worst bushfires in Australia have been caused by powerline faults. The former would institute the latter in parts.
Same with California. As much as anything though these are inevitable problems with capitalism. Ignoring maintenence to hide a lack of growth is a common issue. These problems wouldnt be happening if things were run properly. Though its not like AES states have totally avoided beaurocratic breakdowns.
Regardless local power generation doesnt have to be rooftop solar. There are lots of other ways that are more efficient. And most importantly the batteries that Elon uses are incompatible with a healthy climate. Its hard to make batteries efficient without doing them at scale.
It's all guesswork. They are rich on a scale where money pretty much ceases to exist. They never exchange anything for anything, and they can have whatever they want whenever they want it, so it is all about estimating what the various companies, intellectual properties and ghost milk are/will be worth. Because Tesla makes electric cars, any time there is any kind of interest in the environment Musk will rise because he owns a company that is supposed to be part of the "solution". It's all pretend, and these aren't real numbers in any meaningful sense. I doubt that either one of them could invest 10 billion in anything, because their money doesn't work that way. At that level money is literally just power, since there is literally nothing to spend it on, and the Musk fanboys on Twitter could very well be worth billions of dollars in some estimates.
Wealth gap increasing? Na son, bigger pinata.
-7DeadlyFetishes
I'm linking my gofundme in the chat fellow G*mers, it's to bump Elon up to $230 billion, I know we can do it please do it for Elon!
the most unrealistic thing about this is assuming that between us we have $8 billion
Literally made-up numbers. Bezos too, but at least Amazon is something that'll be productive once nationalized :stalin-shining:
