Tesla loses 575 billion. Elon musk made the biggest blunder in history with his Twitter debacle. Tesla is quickly becoming the MySpace of rhe auto industry. If you find one of the first models keep it mint for 80 years and it will be worth a fortune. Anything else is a lawn ornament in 5 years
Elons massive blunder
- Thread starter dirtydaveiii
- Start date
I think we have to say a few things about this whole debacle.
Musk did not invent Tesla. He invested in it, became CEO and ousted the founders. Now, he was able to make it a successful company on a number of levels, and Tesla had a massive head start and tech advantage compared to all the other automakers. However, that advantage is nearly non-existent now. Nearly every automaker has all electric (with the exception of Toyota who went all in on hybrids). Musk was great at pumping up Tesla tech, like auto drive. He insisted it would be viable by now, though it is not ready for prime time yet. And, who knows if it will ever be truly perfect. There are just too many variables on the road when you mix in humans and AI piloted vehicles.
Many stock analysts and industry experts have said Tesla's share price is massively overvalued. At one point, their market cap was bigger than Toyota, Volkswagen and GM combined (might have also included Ford). Yet, the company only sold a tiny fraction of vehicles compared to these other players. As some point, the smart money is going to sell off their positions to rubes and pocket a hefty profit. And that could be happening as we speak.
The Twitter fiasco was something many people could see coming. Twitter isn't making a lot of money. Certainly not $45B worth of risk. It made a profit of about $3B in 2021. Not bad, but not amazing. How does Musk think he'll squeeze more cash out of it, enough to service the loans he'll need to take it private? And, if he turns it into a free-for-all, will people keep using it?
Musk is many things. He is smart. He is a showman in many regards. And he is a massive asshole. And, I suspect we'll see more evidence of this as more and more journalists realize the emperor is wearing no clothes. Once that happens....he'll still likely be massively rich, but not like today.
Musk did not invent Tesla. He invested in it, became CEO and ousted the founders. Now, he was able to make it a successful company on a number of levels, and Tesla had a massive head start and tech advantage compared to all the other automakers. However, that advantage is nearly non-existent now. Nearly every automaker has all electric (with the exception of Toyota who went all in on hybrids). Musk was great at pumping up Tesla tech, like auto drive. He insisted it would be viable by now, though it is not ready for prime time yet. And, who knows if it will ever be truly perfect. There are just too many variables on the road when you mix in humans and AI piloted vehicles.
Many stock analysts and industry experts have said Tesla's share price is massively overvalued. At one point, their market cap was bigger than Toyota, Volkswagen and GM combined (might have also included Ford). Yet, the company only sold a tiny fraction of vehicles compared to these other players. As some point, the smart money is going to sell off their positions to rubes and pocket a hefty profit. And that could be happening as we speak.
The Twitter fiasco was something many people could see coming. Twitter isn't making a lot of money. Certainly not $45B worth of risk. It made a profit of about $3B in 2021. Not bad, but not amazing. How does Musk think he'll squeeze more cash out of it, enough to service the loans he'll need to take it private? And, if he turns it into a free-for-all, will people keep using it?
Musk is many things. He is smart. He is a showman in many regards. And he is a massive asshole. And, I suspect we'll see more evidence of this as more and more journalists realize the emperor is wearing no clothes. Once that happens....he'll still likely be massively rich, but not like today.
No 575 billion they lost 125 billion in one single day. Not even DJT ever lost that much and that says a lot
