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Banned from lemmy.ml/c/Palestine for constructive criticism

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Cake day: November 8th, 2024

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  • rational_lib@lemmy.worldtoTechnology@lemmy.world*Permanently Deleted*
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    11 months ago

    It’s not all him, several other people invested in both. According to some article Elon owns 79% of X, and only 54% of xAI (barely enough to control it). Since the valuation of X in the deal is about $20 billion more what others have estimated ($12.3 billion), it definitely seems like it’s a corrupt bailout 46% funded with other xAI investors’ money, basically netting Elon $8 billion overnight.

    That being said, the other investors in xAI are easy marks like Marc Andressen (famous for funding Adam Neumann’s project that came after WeWork) and various Saudi Royals who possibly were convinced that this is ok.






  • I think he’s sugar-coating it because their bonds are about to go up for sale. From the article:

    While equity investors have reportedly slashed the value of their stakes by as much as 78 percent, the Journal reports, “banks hope to sell senior debt at 90-95 cents on the dollar, while retaining more-junior holdings.”

    If they were breaking even, the bonds wouldn’t be getting sold at a loss. Keep in mind, the bond holders get paid before the stock holding investors, so if they’re taking a loss, the equity investors are getting nothing (hence the 78 percent cut, basically their share is only worth the odds of a miraculous turnaround). That doesn’t happen with a company unless it’s losing money.





  • This has been annoying me as well, so many city services got used to just using twitter and then Elon took over and now you just can’t find out about things unless you have an X account. Shortly after the change to X I drove hours to use a hiking trail that was closed - I checked the conditions on the park service’s website, but it was using a twitter feed and the top post was “trail is open, come on in!” because it had been changed to show the top post of all time instead of the newest post.

    There should be some non-profit funded by cities that’s basically just a webpage where cities can post important info, or maybe they can have their own mastodon node.