Elon Musk may have to sell billions in Tesla stock to rescue X - eviltoast
Plunging U.S. revenue at X risks opening up a "massive hole" on its balance sheet that Musk needs to plug to stave off its financial collapse.

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

    • auzy@lemmy.world
      221·
      3 months ago

      The problem with Tesla really is Elon.

      If he sells his majority stake, I suspect it would be a lot better.

      The biggest reason against buying them is him. They also make more than cars (their powerwalls seem alright).

      If X fails though, I suspect all those bigots will flood over to here (Facebook and X seem to be distracting them for now).

      Let them have their nazi prison. Just make it not profitable

      • A7thStone@lemmy.world
        81·
        3 months ago

        Personally I’d be wary of putting a giant brick of lithium in my house, especially from a company with the questionable quality control of Tesla.

        • auzy@lemmy.world
          3·
          3 months ago

          I agree partially, but in practice, the LFP batteries should be fine (I would never trust the PowerWall 2).

          Unfortunately, been looking at other alternatives, and there don’t seem to be many seamless home batteries that cut in instantly in the event of a power outage (like an online UPS) either.

          The reality is though, I expect Tesla to lose this market anyway (they only just introduced the PowerWall 3 in AU… Even cheap chinese manufacturers have been using LFP for a while)

      • Iheartcheese@lemmy.world
        82·
        3 months ago

        The people who aren’t buying Teslas because they hate Musk aren’t gonna change their mind because he sold some stock. The company is tainted forever.

        • auzy@lemmy.world
          5·
          3 months ago

          They won’t a tiny amount… But controlling share they might.

          I can’t afford a Tesla. However, my biggest concern is that musk will half arse firmware or sabotage the company somehow.

          If he doesn’t have controlling share, that’s a win and I suspect quality control will likely improve too

        • ...m...@ttrpg.network
          31·
          3 months ago

          The company is tainted forever.

          …he didn’t found the company, engineer the cars, systems, nor infrastructure: there’s a lot of salvageable value in tesla if he goes away…

          • auzy@lemmy.world
            1·
            3 months ago

            The only real engineering he’s done is likely the boring company (who the duck wants to drive in a claustrophobic one lane tunnel) and the submarine thing the cave divers said wouldn’t work (so he called them pedos)

            • Ragnarok314159@sopuli.xyz
              2·
              3 months ago

              He didn’t engineer anything because he doesn’t know how. At most he drew some kindergarten levels drawings on a white board.

              • auzy@lemmy.world
                31·
                3 months ago

                The reality is… He is an engineer. Not all engineers have good ideas.

                The difference is, he won’t accept criticism

                I do software development and have had a few crap ideas (I once thought I could make a optimised OpenGL library using Matricies). The difference between normal people and him, is that when I got told it was a crap idea, I deleted the project. When he gets a crap idea, he attacks the person giving feedback, so there is NO incentive to provide anything but good feedback

                When you’re surrounded by yes men you’ll only increasingly become over confident in yourself

                • Ragnarok314159@sopuli.xyz
                  11·
                  3 months ago

                  No, Elon isn’t an engineer. He doesn’t have an engineering degree from an ABET certified school, no FE or PE license, nor does he understand basic engineering or design principles.

                  You can lick his boots and lie all you want, but Elon is a rich bitch trust fund baby who takes credit for the ideas of others and you defend him. It’s honestly sad, coming from a mechanical engineer, that you as someone who works in software development, would call him an engineer.

        • LowleeKun@feddit.orgDeutsch
          2·
          3 months ago

          I mean i am too poor and don’t need a car but i could see myself buying a tesla once elon really is gone and the other two factors change for me.

      • tacosplease@lemmy.world
        2·
        3 months ago

        Having worked with Tesla I can tell you not all their problems would leave with Elon, but it would certainly be a great start.

      • InternetUser2012@lemmy.today
        21·
        3 months ago

        If he sells it all, I’ll buy a Tesla the next day. Until then, dinosaur bones for me. Unless an economical and very powerful aftermarket swap parts become readily available.