General > General Technical Chat
Electronics whiz Elon Musk is now the world's richest person
<< < (3/16) > >>
engrguy42:
It's one thing to show the world you can get them what they want for cheap like Sam Walton did with WalMart...

But if you can convince the world that you have NEW TECHNOLOGY that can SAVE THE WORLD, the sky is the limit.

People desperately want to believe that all NEW TECHNOLOGY is awesome, by definition, and will save the world. It makes them feel good. Renewables, electric vehicles, dancing robots, AI...

We'll see in 20 years or so.

tom66:
Musk has teams of talented engineers, but the guy himself is a visionary and a bit of an asshole.  I think it's a lot of credit, more than deserved, to say that Musk is a genius.  Steve Jobs was a similar type of person.   Visionary and very motivational, although he was more art-oriented.  He didn't design the iPhone though, as others often say, instead his engineers did.  They are the ones who should get the most credit.
T3sl4co1l:

--- Quote from: VK3DRB on January 08, 2021, 10:27:40 am ---Net worth includes stock, bank balances, real estate, cash, gold etc. Having that much stock just means it is less liquidity and more susceptibility to volatility, unlike government bonds. Hence some of these super-rich are quietly offloading smaller portions of their stock; an indication that the market is nearing its peak or even overheating.

By the way, VW don't sell 100X Tesla; try only 20X according to 2019 figures and about half of the sales are to the Chinese market. Volkswagon is a company convicted of fraud on global scale which is the biggest reason it is worth a lot less. The history of the stock price supports that argument.

--- End quote ---

This is a commonly quoted excuse.  The counterargument I've seen notes that, the market cap of the US stock market is ~$40T.  The market can bear it.  Hell, it can bear every billionaire selling every stock they own, over say a five or ten year period.  That's fast, compared to say government-scale rates of exchange.

And yes, liquidating it would affect the value of at least the stock in question, which is why when they normally, and regularly, sell off that stock, it is done on a publicly announced schedule.  Like, I mean, they're not stupid, they're not going to saturate the market by dumping stocks.  Which is illegal or something anyway.  Come on now, y'know?



--- Quote from: tom66 on January 08, 2021, 11:02:59 pm ---Musk has teams of talented engineers, but the guy himself is a visionary and a bit of an asshole.  I think it's a lot of credit, more than deserved, to say that Musk is a genius.  Steve Jobs was a similar type of person.   Visionary and very motivational, although he was more art-oriented.  He didn't design the iPhone though, as others often say, instead his engineers did.  They are the ones who should get the most credit.

--- End quote ---

As any good capitalist -- he got his start in apartheid SA from family wealth, and maintains it through exploitation of his many laborers.  You're welcome to read whatever political slant from that you like -- just understand, if you celebrate these people, then you are also celebrating all the hardships they have created, and profited from.  If that makes you uncomfortable, maybe just don't do that, then.

Tim
wraper:

--- Quote from: T3sl4co1l on January 09, 2021, 01:40:43 am ---As any good capitalist -- he got his start in apartheid SA from family wealth, and maintains it through exploitation of his many laborers.  You're welcome to read whatever political slant from that you like -- just understand, if you celebrate these people, then you are also celebrating all the hardships they have created, and profited from.  If that makes you uncomfortable, maybe just don't do that, then.

--- End quote ---
Bullshit. He started his first business with no money whatsoever. He slept at his "office" because he could not afford an apartment. Also those "exploited" ended apartheid and turned country into a shithole ridden with crime including widespread rape and murder. They literally live worse than when they were oppressed.
T3sl4co1l:

--- Quote from: wraper on January 09, 2021, 01:52:27 am ---
--- Quote from: T3sl4co1l on January 09, 2021, 01:40:43 am ---As any good capitalist -- he got his start in apartheid SA from family wealth, and maintains it through exploitation of his many laborers.  You're welcome to read whatever political slant from that you like -- just understand, if you celebrate these people, then you are also celebrating all the hardships they have created, and profited from.  If that makes you uncomfortable, maybe just don't do that, then.

--- End quote ---
Bullshit. He started his first business with no money whatsoever. He slept at his "office" because he could not afford an apartment. Also those "exploited" ended apartheid and turned country into a shithole ridden with crime including widespread rape and murder. They literally live worse than when they were oppressed.

--- End quote ---

I won't dip my toe in the apartheid denial, but your other fact appears to be in error:
https://www.businessinsider.com/tesla-elon-musk-net-worth-2017-10#four-years-later-in-1999-they-sold-zip2-for-307-million-earning-musk-22-million-he-invested-more-than-half-of-his-earnings-to-cofound-xcom-an-online-banking-service-9

There's also the story of selling emeralds in New York City, not exactly an ordinary teenager's experience.  And his family owning substantial stock in an emerald mine, at that point in history makes it rather hard to separate from the institution in question.

Perhaps these aren't actual fact, either (Musk denies the emerald story; but he obviously has a vested interest in doing so).  It seems there are few primary sources, among the top hits on this subject.  I don't particularly care to spend more time on the subject, but I would be interested in reading primary sources if others are.

And besides this one example, one doesn't need to go far to find other unseemly figures.  VW was mentioned earlier in this thread; along with BMW and others, during the 1930s and 40s, they were, well, literal Nazis.  I mean, it's not even Godwin's law, that's simply a historical fact.  They knew what was going on, and along with everyone else, went along with it, because, well, what are you going to do?  Big businesses can claim a great many things in press releases, but the one and only thing they always agree on is money.  Among their priorities, morals and human well-being are coincidental at best.

Tim
Navigation
Message Index
Next page
Previous page
There was an error while thanking
Thanking...

Go to full version
Powered by SMFPacks Advanced Attachments Uploader Mod