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feld
@arrrg what consequences has he suffered? Any normal CEO would have been fired for a fraction of the brand damage. He avoided any financial consequences by getting Saudis to buy xAI for billions so he could close out his debt on the loans to buy Twitter.

It's like rolling over your credit card debt to a new card with a lower APR for billionaires. But they will just do it forever
Kathmandu

@feld @arrrg

I suspect he HAD to use xAI stock to buy out his Twitter holdings because he'd bought Twitter with a loan that was secured by Telsa stock. When the protests made Tesla stock go down, suddenly he was facing a margin call.

Apr 25, 2025, 01:57 PM·Quiet public·Web
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feld
@Kathmandu @arrrg Yes that's my point. But xAI has no real value. There's no justification for that $40B he got for it. So what deal did he make with the Saudis?

Once again the ultra rich escape consequences of their bad decisions.
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