▲ 75 ▼ Elon Musk admits X 'may fail, as so many have predicted' (www.businessinsider.com) submitted 2 years ago by gsa4555@lemm.ee to c/enoughmuskspam@lemmy.world 12 comments fedilink hide all child comments
[–] girlfreddy@lemmy.ca 16 points 2 years ago (2 children) And he'll get a huge tax write-off out of it, which likely could have been his intention in the first place. Whatever. permalink fedilink source hideshow 4 child comments replies: [–] PasswordIsTaco@infosec.pub 9 points 2 years ago (1 child) I don’t know how rich people finance works but wouldn’t the write off net him substantially less than the $40 billion he put it into it. permalink fedilink source parent hideshow 2 child comments replies: [–] quixotic120@lemmy.world 12 points 2 years ago (1 child) He only put up about 1/3rd of the capital himself, the rest was financed with loans that were put against the company, not himself. So if twitter fails he loses about 13 billion, a bunch of people who stupidly trusted him lose the rest, and he gets the write off so he can duck 27ish billion of taxes spread across a few years https://www.npr.org/2022/11/30/1139964806/how-elon-bought-twitter-with-other-peoples-money He may be a moron in many ways but he didn’t get to 200ish billion by not knowing how to fuck people over and keep his money right; he absolutely knows how to come out ahead on this. It’s almost certainly why he’s so cocky despite running the company into the ground. Either the company succeeds and he then has a media empire that generates him healthy profit or it fails and he still comes out ahead. Either way he wins. permalink fedilink source parent hideshow 2 child comments replies: [–] bloopernova@infosec.pub 6 points 2 years ago (1 child) Wasn't some of that money lent by saudi princes? A group of people who tend to take revenge against those who wrong them. permalink fedilink source parent hideshow 2 child comments replies: [–] girlfreddy@lemmy.ca 4 points 2 years ago They get their own write-off which will balance the billions in oil profits. permalink fedilink source parent [–] cyrano@lemmy.dbzer0.com 3 points 2 years ago They just write it off 😃 https://m.youtube.com/watch?v=BAjxn2US7J8 permalink fedilink source parent
[–] PasswordIsTaco@infosec.pub 9 points 2 years ago (1 child) I don’t know how rich people finance works but wouldn’t the write off net him substantially less than the $40 billion he put it into it. permalink fedilink source parent hideshow 2 child comments replies: [–] quixotic120@lemmy.world 12 points 2 years ago (1 child) He only put up about 1/3rd of the capital himself, the rest was financed with loans that were put against the company, not himself. So if twitter fails he loses about 13 billion, a bunch of people who stupidly trusted him lose the rest, and he gets the write off so he can duck 27ish billion of taxes spread across a few years https://www.npr.org/2022/11/30/1139964806/how-elon-bought-twitter-with-other-peoples-money He may be a moron in many ways but he didn’t get to 200ish billion by not knowing how to fuck people over and keep his money right; he absolutely knows how to come out ahead on this. It’s almost certainly why he’s so cocky despite running the company into the ground. Either the company succeeds and he then has a media empire that generates him healthy profit or it fails and he still comes out ahead. Either way he wins. permalink fedilink source parent hideshow 2 child comments replies: [–] bloopernova@infosec.pub 6 points 2 years ago (1 child) Wasn't some of that money lent by saudi princes? A group of people who tend to take revenge against those who wrong them. permalink fedilink source parent hideshow 2 child comments replies: [–] girlfreddy@lemmy.ca 4 points 2 years ago They get their own write-off which will balance the billions in oil profits. permalink fedilink source parent
[–] quixotic120@lemmy.world 12 points 2 years ago (1 child) He only put up about 1/3rd of the capital himself, the rest was financed with loans that were put against the company, not himself. So if twitter fails he loses about 13 billion, a bunch of people who stupidly trusted him lose the rest, and he gets the write off so he can duck 27ish billion of taxes spread across a few years https://www.npr.org/2022/11/30/1139964806/how-elon-bought-twitter-with-other-peoples-money He may be a moron in many ways but he didn’t get to 200ish billion by not knowing how to fuck people over and keep his money right; he absolutely knows how to come out ahead on this. It’s almost certainly why he’s so cocky despite running the company into the ground. Either the company succeeds and he then has a media empire that generates him healthy profit or it fails and he still comes out ahead. Either way he wins. permalink fedilink source parent hideshow 2 child comments replies: [–] bloopernova@infosec.pub 6 points 2 years ago (1 child) Wasn't some of that money lent by saudi princes? A group of people who tend to take revenge against those who wrong them. permalink fedilink source parent hideshow 2 child comments replies: [–] girlfreddy@lemmy.ca 4 points 2 years ago They get their own write-off which will balance the billions in oil profits. permalink fedilink source parent
[–] bloopernova@infosec.pub 6 points 2 years ago (1 child) Wasn't some of that money lent by saudi princes? A group of people who tend to take revenge against those who wrong them. permalink fedilink source parent hideshow 2 child comments replies: [–] girlfreddy@lemmy.ca 4 points 2 years ago They get their own write-off which will balance the billions in oil profits. permalink fedilink source parent
[–] girlfreddy@lemmy.ca 4 points 2 years ago They get their own write-off which will balance the billions in oil profits. permalink fedilink source parent
[–] cyrano@lemmy.dbzer0.com 3 points 2 years ago They just write it off 😃 https://m.youtube.com/watch?v=BAjxn2US7J8 permalink fedilink source parent