He got carried away to make this purchase during the rising tide of covid bull market.
I suspect this is going to severely affect both tsla and twtr
https://www.bloomberg.com/news/articles/2022-12-08/musk-bank...
IMO this Twitter deal has been nothing but bad news for Tesla shareholders. The CEO is completely distracted and forced to sell his shares, and the company has been dragged into stupid culture wars. Tesla brand perception has crashed among Democratic-voting Americans who previously were its biggest supporters.
It’s hard to believe he spent $44B and crashed his car company’s valuation and personal reputation just to bring back Babylon Bee’s trans harassment onto an also-ran social media platform. It’s even harder to believe that some people fantasize about moving to a Mars colony where a person with this kind of judgment is king.
It's all jokes, but then at the end of the day, everyone else drives home in some other car and they don't know what the CEO said about "tweet of the day" etc. Yet Musk is all in everyones face all the time. It doesn't seem to be a winning strategy at the moment.
Your phone, clothes, the mug you're sipping from were all likely made from if not child labour, at best abusive and unfair labour.
Worrying about the what moderately disagreeable thing the CEO of the company who made your car may have said on social media seems an incredible view.
Can they do anything about it? Or is he protected like that Facebook Zucker?
https://www.thestreet.com/investing/stocks/how-elon-musk-con...
It’s a company that sells cars mostly to yuppies and woke buerguesie who drive the cars as a statement.
Now it’s time to let this bird fly and see if it survives, for that it needs to appeal to the mass market and not just the ones who “move to Canada” every 4 years.
Tesla stock like every stock is (over)valued based on the future, and at this point de-Musking Tesla a little bit could be the thing that actually brings the money to those Tesla stock “investors” in the mid/long run.
Apple around 2000 was stuck in a niche that would probably be described as “woke” today: graphic designers and hipsters.
The way that Steve Jobs broke out of the niche wasn’t that he suddenly started courting Dell PC buyers and went around saying: “Designers are dummies and ‘Think Different’ was a joke anyway.”
That’s basically how Musk is treating his existing Tesla customers now. (Including myself. The car is still good but I have serious doubts I’d buy another.)
You’re bringing a lot of emotional baggage to this mischaracterization. Tesla’s buyers are affluent because they didn’t sell anything cheap but that doesn’t make them woke - the dedicated environmentalists bike or take the bus to work - and the smartest move Tesla ever did was making the first one a sports car. That got all of the “car guys” interested because it changed the thought of an EV from something bland but virtuous to a fun, premium experience. Even knowing that “woke” is how right-wingers describe anyone who isn’t, it’s really not accurate – I know more libertarians who bought them until the quality control problems started catching up with them.
Does he ever recoup the cost of buying Twitter at that rate? outlook doesn’t look good.