This would be a horrible deal for Tesla investors.

Long-term investors would lose about 40% of their investment to subsidize the inflated valuation of X (bought by xAI), the inflated valuation of xAI (bought by SpaceX), and SpaceX (whose valuation is based on the assumption that demand for inference is effectively unlimited, and that everyone will prefer hardware in space over Earth).

The valuation of both companies was inflated prior to acquisition, and Tesla shareholders will be asked to dilute their investment by absorbing that cumulative inflation.

Not even to mention that Musk would have exclusive control over the entire conglomerate, with not even the pretense of a Board to check his power.

When even Steven Mark Ryan is like "let's pump the breaks a little bit," you know it's bad.

Yeup. In 2025–

“Other shareholder meetings are snoozefests but ours are bangers. Look at this. This is sick.”

Elon’s pay package: he gets 400 million Tesla shares if he raises the market cap of tesla(xspacextwitterxAIx) to $8.5 trillion (nominal). He spent a cool 250 mil on making friends with the republicans, so as to ensure that his incoming epic awesome merger is not blocked.

A merger, plus the amount of inflation this government has already produced over the next decade, will probably see X co hitting Elon’s salary goals.

Yes, let's combine Twitter, an AI company, and a space company with a solar company, car company, battery company, and robotics company, so that we can have one huge valuation that can't be possibly delivered upon and losses will be absorbed for a short period. What could go wrong?