Considering the pickup EV has been an enormous commercial flop, only selling barely a fraction of Musk’s promised 250,000 to 500,000 Cybertrucks a year, there’s a good chance Tesla is using the mercurial CEO’s other venture to boost the numbers ahead of the end of an otherwise disastrous year.
Pretty sure this is illegal, you know, using one company to prop up another (the old “Enron” method)
Wish the US still I don’t know, had laws and whatnot
Laws are so 2010. Get with the time, it’s all corruption and gambling now.
2010? By that point, the global financial crisis had already proven that there are no consequences for financial manipulation if you’re rich enough.
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“Illegal” is only for the poors and can apply to something as simple as crossing the street
Oh we still have laws. Elon is just part of the “in” group who the laws protect but do not bind.
Just like Madoff and SBF, he’ll only face consequences if he fucks over the wealthy
Its shakey, but might be in the clear because SpaceX is still private and can do whatever it likes. If they went public too, then there would be a problem I think
I think they’re going to IPO soon, so gotta get this shady shit done first.
Using government funds to buy stupid trucks
It might or it might not. Money laundering is difficult to do legally. Possible but difficult.
Private, but don’t they serve a number of government contracts?
This is basically the government bailing out Tesla directly for a shitty truck.
If the US tries to enforce laws against Elon, he’ll go on Twitter and starting calling for the break up of the United States like he did for the EU when they decided to enforce their laws
So the fuck what? Who cares what he says on his platform for bots, Russians, and fellow morons?
Besides the heavily armed Yall Qaeda crowd? All of their potential victims…
They can’t buy enough of these to weigh the collapsing market for them. They’ll be less than $50k.
They will a hundred percent buy them at full price, in a big money transfer from space x to Tesla so muck can get his trillion dollar payday that was voted in
Let’s remember that SpaceX gets tons of government funding. No doubt they will try to pass it off as legitimate spending.
Yup,
NVidia-OpenAI-Nvidia-OpenAI
All valid criticism aside, 1000 is a pretty fathomable number.
To me one sold Cyber truck is unfathomable.
They only made around 50k of them. So that is still a considerable amount.
Sure, but still a number which it is possible to fathom.
Not in this economy. /S
I am fathomless
Would you fathom me? I’d fathom me so hard.
Not really. A fathom is a unit of water depth, equal to 6 feet. So unless hes throwing all 1000 into the ocean in neat stacks, they can’t be mentioned in fathoms.
If they land on the nose it’s probably over 2 fathoms!
I think it becomes unfathomable when someone’s buying that number of cybertrucks. As in I can’t fathom why someone would do that, unless to juice Tesla’s numbers.
Fuck SpaceX too.
THANK you. I can’t even get excited about their successes knowing Musk is involved.
I used to religiously watch launches and cheer on their success. Now the company doesn’t even exist to me.
It helps that nothing big has happened in the last few years.
I’ve read several articles that say they have teams assigned specifically to handle elon in all his companies - to keep him busy and away from the actual critical work.
Ah, the AI business model…
@technocrit Using taxpayer money that they’re granted due to the outsourcing of government functions like NASA and communications to bail out their incompetent boss’s other failing business which was initially built on tax credits supposedly created to address climate change. None of Musk’s companies are profitable, they’re just good at stealing from the mooks who run governments.
Musk: most efficient in the world at extracting the public’s money via government.
Besos: most efficient in the world at extracting the public’s money directly.
Elon is running the biggest Ponzi in history, financing on financing and counting both as the total. Eventually he won’t be able to keep shuffling assets around and counting both, they will all collapse with nothing left and everyone will be shocked pikachu despite it being obvious.
Elon is running the biggest Ponzi in history
after Nvidia and Open AI.
Business idea. I make an ai using ai, then hord investments and use that money to invest into another ai that I have made using an ai tool. Rinse repeat
Elon is running the biggest Ponzi in history
it’s a bigger ponzi than nvidia?
Playing games with the shareholders. Giving tesla a boost by paying for it with spacex.
Oroborous Economics
He literally already did something like this with tesla and solar city. There was a court case and everything but musk won so it’s no suprise he’s doing it again.
60m settlement. Technically a loss, but a slap on the wrist and a drop in the bucket as far as I’m concerned so I won’t argue that it wasn’t a win.
I can’t believe this fucking court system.
https://www.pv-tech.org/delaware-judge-approves-us60m-settlement-for-tesla-shareholders-aggrieved-b/
Once you have enough money winning a court case is indistinguishable from losing one.
If the penalty for a crime is a fine it is only illegal for poor people.
once you have enough money, laws don’t apply to you anymore. You just get inconvenienced by pocket change level “fines”
Ahhh I thought he straight up got charges dismissed my bad. But yeah $60 million for elon is a slap on the wrist, or “cost of doing business”
No need to apologize. You were quite correct. Lol
You can find that in his couch cushions, but look before JD Vance was there.
Fraud?
Are they gonna use them as ballast or dummy payload or what?
Just so long as they strip out the lithium batteries first - otherwise that’d be one helluva fireball coming back down in some random spot
I get what you’re going for, but the amount of energy stored in any mass going at orbital speed far outweighs the energy stored in its chemical makeup. A 1kg mass traveling 7.8km/s (LEO speed) has 30MJ of kinetic energy. By comparison, 1kg of TNT has 4.184MJ of chemical energy. So even if the Cybertruck was made out of TNT, the TNT would only account for about 13% of the total energy. Removing the batteries would significantly reduce the mass which would have a large impact on the “fireball,” but I don’t think that’s what you’re going for.
You are part of why lemmy is great.
It’s been awhile since I took accounting, but this looks like they are setting up a transfer pricing fraud.
Nothing is based on supply and demand anymore. The “market” no longer makes corrections. It’s all manipulatable fuckery and the elite still wants you to believe that the stock market is stable. The big bubble burst will be money, and how it’s abused/misused, not AI.
They’ve made it so you will be left behind economically if you don’t slave for SP500 shares
eh, the SP500 is just the slot machine meant to real people in
real $ is on learning what individual tickers are really worth and trading on that
bubbles like this are basically just milking pensioners and whatnot who buy into the system mindlessly, when enough buy in and there’s a catalyst to get peoples eyes on the screens (imo, trump finally croaking) so they can sell into it profitability the algo’s switch to dumping, which’ll then cause mainstreet to panic sell seeing half their retirement vanish overnight
It’s more than a slot machine, it’s the primary beneficiary of all the bad fiscal policy and wealth concentration. That and real estate. All the cool kids are hoarding it! Giving them selves cool loans based off the cool valuations they cooked up. Bond market is imploding and taking cash with it. Great time to buy SPY
but…considering the state of US labor/left, realistically crashes like they’re setting up now are the plebs best bet on actually capturing some of that wealth for themselves, it’s that or you jump like a monkey (sports) or record your misery (various arts) and hope your pain/suffering is entertaining to them.
The scary thing is, I don’t think the people in power really have an endgame. They are just drunk on power and stealing until they can’t anymore.
You can only manipulate for so long before the cards collapse
I do wonder if people can make direct food subscriptions with farmers and just bankrupt the entire corporate infrastructure one commodity at a time
K-shaped economy and all
He only gets his reinstated absurdly large Tesla bonus if Tesla does really well.
What can be better for profits than selling a bunch of cybertrucks? (Even if it is to himself.)
A cybertruck bubble you say??
A bubble? In 2025?! Inconceivable!
