RisingThumb
Imaginary manifestation of fun
This isn't the same at all? And I would hardly consider someone who at one point not too long ago was considered the richest man in the world by valuation as an incompetent businessman. Twitter isn't a failing web enterprise? I wouldn't go so far as to say it's a terrible business idea, but it's a disruptive business move, and a lot of companies followed suit with layoffs. Regardless, it's not a publicly traded company, so it doesn't concern me too much.That's true, but it just moves the problem - no competent businessman would withdraw stocks from a successful company in order to pursue a bad purchase - and this isn't just a case of him thinking it was a good purchase and being mistaken (which would be forgivable as mere incompetence), he went ahead with it and sold his stock even after everyone told him this was a terrible idea.
This would be like Richard Branson selling stock in Virgin to buy a majority stake in a failing web enterprise - it's bad business.
I bought around December when it was massively undervalued, around $140/share. I don't do short term, I'm somewhere between a long-term and medium-term(most recently selling a bit of Nvidia because that pump rally has me worried about a corresponding dump). I don't think Tesla is an innovative company, I just think it's ahead of the ball and is a good high-risk, high-growth stock option. I don't do funds because I'd rather select the stocks based on industry knowledge I have, and not based on some retard fund manager who will take their own cut, and because I'm young and can take bigger risks, for bigger growths.I mostly own index funds as they are far more reliable. I know about diversification - that doesn't mean I should buy into bad stocks on the off chance they turn out to be good - especially of those bad stocks are vastly overpriced by all estimates.
If you're buying Tesla stock to diversify and because "it's paying out well right now" - fair enough. But buying stocks because you think they will give a return is a far cry from believing in the company or the man behind it. You didn't present an argument that Tesla was good to buy for money, you presented an argument that Tesla was a genuinely forward-thinking and innovative company, and that's simply not the case.
I never made an argument about Musk's character, and it's irrelevant to me if he is or isn't a scammer. It's also irrelevant to me if Tesla is or isn't innovative.The problem is that you claimed directly that considering Musk a scammer was unjustified because Tesla is innovative. Now you agree that Tesla isn't actually innovative.
Promises fail, problems come up, Musk plays the market well... doesn't make him a con artist or scammer as those are extreme judgements of character. Overpromising and underdelivering doesn't automatically make someone a con artist- this happens all the time in software development. Occam's Razor is ahelluva thing. I also don't believe they are entirely false promises either as self driving has come some way. Still far from perfect, but a lot better than it used to be. I don't like to demonise people- least of all people who have a lot of news and rumours circling around them as it makes it very hard to cut through to the truth.Given that they aren't innovative, do you concede the point that Musk continually promising everything from full self driving by 2020, to money-making robotaxis that never matetrialised essentially makes him a con artist, since he has essentially convinced everyone that his non-innovative market-share-losing car company is actually worth more than the rest of the American car industry combined, based entirely on false promises?
Maybe as an investment. Starlink holds up, see this. It's just not good for city bugmen, it's good if you live in the country.Not really. Most of the people who invest in his offerings will end up broke. Just look at what happened to those who invested in SolarCity (and what will happen to those who invested in StarLink)
And why should I care? The economic system is so massive and bulky and terribly destructive that I might as well leech upon it like a parasite. Take all the gains I can off of it, without caring for the way it degrades- if I don't care, and I just support acceleration, it leads towards capitalism collapsing, and the increase in my resources allows me to establish myself better within the system, and to put me in a position to invest in myself, my family, my tribe, my community in order to prevent negative consequences hitting them as hard. This textbook scam describes most startups in America. Hell, most growth-focused businesses. Infinite growth isn't feasible, but investors like to think it is.Unsustainable growth based on speculation is already a scam, but Musk goes one step further - we're not just talking about some companies that are doing honest business and might end up doing well or not depending on how the market goes, we're talking about companies which deliberately lie, overpromise and make all sorts of wild claims to jack up their share prices, convince people to invest, and then evaporate.
It's a textbook scam. This isn't just "capitalism being capitalism", this is fraud and it needs to stop.
- Ted KaczynskiThe conservatives are fools: They whine about the decay of traditional values, yet they enthusiastically support technological progress and economic growth. Apparently it never occurs to them that you can't make rapid, drastic changes in the technology and the economy of a society without causing rapid changes in all other aspects of the society as well, and that such rapid changes inevitably break down traditional values.
In the medium-term Tesla is an interesting high-growth high-risk stock option, and I like it for that
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