alt Hacker NewsI feel like without adding some commentary with these quotes this comment lacks enough info to see how it relates to the linked article.
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Legitimately, did you not immediately conclude it was for financial shenanigans? What did you think? I'm not trying to be shitty, but what else could there be?
without having watched the Big Short or having read the article, my first impression from the quote is "Megacorporations are failing dramatically, and the billionaires at their helm are freely doing financial gymnastics to pull the covers over the eyes of shareholders, while gaming the system to fully circumvent taxes and regulation -- the people with the power to do anything about it (legislators and regulators) watch idly (maybe profiting), the oligarchs make off like bandits despite copious failures, and the end consumer/taxpayer is either robbed or clueless this is going on, but most likely both, when there was a world where accountability could have been had and the common man was treated better."
the article headline immediately screams "financial gymnastics" to me so the rest followed from the quote.
You don't see how the common thread is Elon Musk buying out his own businesses, largely on the basis of overinflated stocks and corporate welfare?
It's baffling that the market has stayed so irrational because of Musk. It will collapse because of him.
This merger smells like a bubble. Servers in space? They don't make enough to cover costs here on earth. Americans will be forced to bail this mess up because we need Falcon 9, Starship one, etc.
It is pretty clear. Socialize the losses of Musk investments by recovery via SpaceX contracts, supporting the US space program and the new Golden Dome program.
He sold FSD for 12 years, now is going to sell a Dyson Sphere for the next 30. This guy makes Ponzi look like a street hustler.
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Because this move is entirely financial engineering to hide losses just like the roll up of X in to xAI.
None of this has anything to do with business or innovation. Do you not immediately see that? Most of my friends reaction to this news was that this is so obvious it's almost funny (or actually it is funny, since most were laughing as they read the headline).
I'm curious how you could not understand the relevance of the quote unless you were aggressively trying to not understanding it.