He traded a liability for an asset. Distanced X from his personal assets (Tesla stock) used as collateral. xAI now has massive amounts of debt and Elon just owns the company that owns it.
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It’s equivalent to plugging a surge protector into itself— eNdLesS pOweR!!!
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This is probably just to get around any data privacy laws left intact.
play stupid games, win stupid prizes.
He said the deal values xAI at $80 billion and X at $33 billion.
Not sure Musiks ownership level in both. xAI being worth $80B is a stretch, in that it certainly doesn't have profits or revenue to justify it, and has competition that could end in it being a loser. X value is also high though. Whether it is an unfair transaction depends on which is more overvalued. Transaction is same as if xAI were value $8B and X 3.3B.
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He’s broke lmao
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That's insane amount of money
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