rafoix 94 points 14 hours ago

It’s hilarious how Musk is the wealthiest with multiple businesses that are actively failing and cannot make a solid case for their valuation without going into fantasy scenarios.

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ToastedRavioli 30 points 12 hours ago

Which also means that his wealth valuation is a house of cards, he cant collect on the fake value without crashing it

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chaogomu 29 points 11 hours ago

But he can take out massive loans on that valuation.

And that money can be used however he wants.

Also, the recent IPO was him collecting money from a lot of people, and since he got exempted into a few indexes, people's retirement money is now tied to Musky scams.

This means that if Musky does decide to cash out and crash the economy, he'll have an instant bailout.

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Telorand 14 points 11 hours ago

people's retirement money is now tied to Musky scams.

Now where have I seen this before...? Gosh, if only history had some warnings...

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atomicbocks 10 points 9 hours ago

Be careful though, suggesting that Starship might never fly, or Full Self Driving might never drive, or that data centers in orbit are unlikely to scale is dangerous on the Internet.

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rafoix 5 points 6 hours ago

Starship flying means nothing when nobody is using Grok which wastes more money than Starship capsule make.

Full self driving is only 1 decade late. Tesla is already behind technologically and their quality is still pathetic.

Data centers in orbit will be orders of magnitude more expensive and complex than data centers on earth. Data centers on earth are having tons of trouble being built because the costs and materials needed are extreme.

Also, Elon Musk is a Nazi that really wanted to be invited to the Epstein pedophile parties.

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SatansMaggotyCumFart 68 points 14 hours ago

So now Musk is richer than the next four richest combined?

I think this is getting a little out of control.

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9point6 41 points 13 hours ago

He makes about $150,000,000 a day, passively from his assets.

Wealth tax now.

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alapakala -6 points 12 hours ago

tax

You folks hate theory, huh.

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gid 28 points 11 hours ago

It's okay to be nuanced about this. In a system where one person can "make" this much, things are so obviously out of whack that it's not contradictory to want that kind of wealth to be heavily taxed, while still holding the view that in an anarchist system taxation is not desirable.

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mic_check_one_two 19 points 10 hours ago

Yeah, it’s also worth noting that “wealth tax” is the compromise. It’s the starting point for a good faith negotiation, which works within the bounds of the current systems. Because the alternative is “storm the compounds. We’d only need to livestream a mob eating like a dozen of the richest before the rest get the message and fall in line.”

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alapakala -3 points 8 hours ago

Nuance about larceny gets you Sweden. Larceny is the wrong approach to horizontalidad. You want to compensate workers for yields, not rob’m.

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explodicle 1 point 4 hours ago

That link is far too specific. This one gets the point across much more clearly.

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alapakala 1 point 2 hours ago

you forgot to append the #Against anchor.

it should be depressing many people still don't comprehend the problem with compulsory larceny.

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pennomi 25 points 14 hours ago

The one percenters of the one percenters just got one percented.

(Actually it’s even worse than that I think.)

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ironycanal 4 points 13 hours ago

No its fine. No worse than having a single billionaire, really.

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Jackusflackus 36 points 14 hours ago

All billionaires should be stripped of their wealth over 999 million and given to the rest of the world

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hemko 22 points 13 hours ago

Hanged, just hanged

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ironycanal 4 points 13 hours ago

Impossible to do both. If you kill them somebody just inherits.

And or course the concepts of money and ownership must be preserved.

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Fleur_ 2 points 9 hours ago

Keep killing till desired wealth distribution.

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ironycanal 2 points 9 hours ago

But make sure there's still money, and other fungible transferrable wealth!

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Digit 3 points 11 hours ago

Ever played around with the maths of that?

If seeking a Robin Hood style remedy, may need tackle all the dormant pools of hoarded wealth, and all the squander.

It's fun maths to play with. If one is aware of at least a few of those pools. Especially banking, and suppressed access to resources (primary, technological, and more).

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grue 6 points 11 hours ago

I don't even care what happens to the confiscated money; it could just *poof* out of existence and that'd be fine. What matters is that massive wealth inequality is objectively bad for society and must be reduced.

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Digit 1 point 6 hours ago

Great point.

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Dumhuvud 2 points 8 hours ago

999M USD is still way too much wealth for a single person.

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bitjunkie 2 points 8 hours ago

$999m is still an obscene amount of money, and they'd just start finding ways to amass it again

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Viking_Hippie 21 points 9 hours ago

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Wispy2891 15 points 10 hours ago

It’s ridiculous that they could give away $1bn/yr in charity projects and they’d still be billionaires when they’ll finally die

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philipp_ 2 points 9 hours ago

Not really because this isn't real money. Especially in Elons case it's all in pumped up stocks that he could never sell without crashing the price. Not that this is making anything better and the current stock market is just another symptom of the death spiral we are currently in.

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AnchoriteMagus 15 points 14 hours ago

Not unless we stop them.

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A404 5 points 14 hours ago

How? I don't see them stopping until the supply lines collapse.

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AnchoriteMagus 29 points 14 hours ago

You don't see Brian Thompson making any more money for United Health, do you?

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Zorque 4 points 13 hours ago

No, but plenty of other people do, and the person that shot him clearly hasn't been doing much else to "help".

So, either put your money where your mouth is, or stop spouting the same demagoguery bullshit and find an actually useful thing to suggest.

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AnchoriteMagus 3 points 13 hours ago

You think the removal of one system of government to institute another (even if that system is as little of a system as possible), along with a radical redistribution of wealth, happens without violence?

I may have a bridge to sell you.

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over_clox 5 points 14 hours ago

Eat them, obviously 🍴

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IrateAnteater 5 points 14 hours ago

Do I have to? I feel like eating the muskrat is likely to cause a ketamine overdose.

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over_clox 2 points 13 hours ago

Just make sure to boil him first, I'm pretty sure that should break down the chemicals, right? 🤔

Or just feed him to the pigs, either way 🤷

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Wizard_Pope 13 points 13 hours ago

I love how Musks conpanies keep losing money yet somehow the stupid fake value just keeps growing.

I hate speculative capitalism so much

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sobchak 12 points 14 hours ago

It's going to continue to accelerate to a kind of feudalism where they own everything. Democracy or even capitalism itself can't survive this.

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Zorque 21 points 13 hours ago

Capitalism is this. This was always the logical conclusion when wealth and success were so intrinsically linked.

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y0kai 10 points 13 hours ago

lmao glad someone said it.

here's hoping capitalism doesn't survive this.

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A404 4 points 9 hours ago

It is called capitalism because those with the most capital get to make all the decisions

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Buddahriffic 10 points 4 hours ago

The five wealthiest people who show up on the lists.

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Blackmist 9 points 6 hours ago

If we all just collectively decided to eat the top one every week, the problem would just sort itself out after a month or so.

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blockheadjt 2 points 2 hours ago

It would take more than 4-5 occurrences. Inheritance is a thing.

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Digit 6 points 13 hours ago

Yup. Ben Norton did a good piece on this topic a few days ago.

https://www.youtube.com/watch?v=Dj-hd3l4dSo

The graph (iirc about half way through maybe), with his added coloured blocks for the different eras lends some superb clarity to what's going on, the political philosophy shifting phases of accelerated worsening, and how bad it is, as in how much worse it is contrast to the worst time in history...

What we have now, makes the guilded age look like some kind of egalitarian paradi~~ well, maybe not paradise, but more egalitarian... much less egregious than would have been seen in the keynesian phase. How little they knew, of how much worse it could get, and was going to get. Pesky marketing, in rebranding same old corporate fascism as "neo-liberalism". Many likely not bothering with the term neo-feudalism, preferring the delusion there's anything "liberal" still going on. As if that limp thing were even enough to do any more than pretence on slowing down the consolidation of wealth and power even if it were what it's best definitions and ideals pronounce.

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c_change 5 points 15 hours ago

@A404 Now do 2006. 😭

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A404 8 points 15 hours ago