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Comment by chasd00 | Hacker News Reader

Not a scam IMO, I don’t think musk is that motivated by wealth but im sure plenty of the heavy hitter investors are. I’m sure he didn’t complain about the valuation however. I think SpaceX is a solid well run company (praise be to Gwen Shotwel) but $1T is a bit much. I’ll eventually buy in when things settle down and we have a few quarters of financial data to work with.

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What you describe is exactly a scam: he somehow convinced you that he's not motivated by wealth! That alone is clearly a scam, the idea that Musk is not motivated by huge amounts of wealth and high valuations is just implausible considering g his behavior at every single turn.

What is he doing with all that wealth? Taking lavish vacations? Buying luxurious yacht? Buying islands and making bunkers?

I would much prefer Mr. Musk found a nice hobby like yachts or race horses instead of buying communication platforms, bulldozing regulations, and bribing officials with PAC money.

That said, he needs the wealth to keep the whole machine from falling over. One element might be stable but the rest is overstretched and about to go bankrupt at any minute. He is doing this to get back control of Tesla while also investing in AI and not exploding.

He is running forward falling and his wealth legs need to keep up or it all goes down hard (and takes a bunch of bagholders with)

So when they spend money to rent town area for marriage, it is a problem. When they spend money to actually do some work to make the world a better place, it is also a problem. The only good thing is donate money like bezos ex-wife and fuel the activists. Eff socialism.

What did Elon do that made the world a better place

IDK what the calculation is for rich people, but for middle class who had that many children by that many women I don't think the state would leave them anything to survive on other than maybe prior savings.

Having the wealth, of course, the glory of being the richest man to have walked earth.

Spending it is not the goal, having the wealth is.

Remember the ridiculous Tesla compensation package that he demanded? That's about having wealth, it's not about spending it.

It is about having control of the company directions and not be beholden to stupid board members or hostile take overs.

> Buying islands and making bunkers? It was reported a few years back he'd built a bunker in New Zealand.

He spent $300 million in cash (more than any individual donor in history) to help elect the current president.

A lot of people spent a LOT more money in every election for many candidates. Esp the democrats going over billions in 2020 (3B or something). Did you cry about electing Biden with 3B?

And if he spent only 300M and was able to elect president with it, more power to him. He must know something about efficiency as others spending so much more couldn't do it. Ridiculous points. I can bring them up too.

> A lot of people spent a LOT more money in every election for many candidates

And in this case the topic of discussion is how one specific individual spends their money - so Biden and Democrats and whatever other axe you have to grind is totally irrelevant.

> "Not a scam IMO"

> "I think SpaceX is a solid well run company"

This should be all the proof you need that it's a scam. Here's why:

The company isn't "SpaceX" it's "SpaceXAI", and nearly all of the valuation comes from the "AI" component, not the "SpaceX" component.

SpaceX makes its revenue from renting out GPUs

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