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Saturday, March 29, 2025

Billionaire Elon Musk on Friday said his artificial intelligence startup xAI is buying his social networking platform X in a deal valuing the company, once known as Twitter at $33 billion.

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Elon Musk's xAI firm buys social media platform X for $33bn

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-- The Guardian (@theguardian.com) March 28, 2025 at 10:06 PM

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AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

#1 | Posted by LegallyYourDead at 2025-03-28 08:43 PM | Reply

So. He's selling X, to himself?

#2 | Posted by ClownShack at 2025-03-29 01:42 AM | Reply

So. He's selling X, to himself?

Got a good deal too... $11 Billion less than he paid for it the first time.

#3 | Posted by REDIAL at 2025-03-29 02:19 AM | Reply | Funny: 1 | Newsworthy 1

Thanks, MAGANazis, for electing the guy who gave up his presidency to the illegal immigrant while surrendering the USA to Russia and the next highest bidder.

#4 | Posted by chuffy at 2025-03-29 10:16 PM | Reply

He should be arrested for public ------------.

#5 | Posted by RightisTrite at 2025-03-30 12:38 AM | Reply

@#4 ... Thanks, MAGANazis, for electing the guy who gave up his presidency to the illegal immigrant while surrendering the USA to Russia and the next highest bidder. ...

That's a pretty good summary.


#6 | Posted by LampLighter at 2025-03-30 12:45 AM | Reply

Elon uses an algorithm to engineer his own truth on X which he feeds into his LLM that he uses to "solve everything". And now he can feed personal government information about his users and his enemies (perceived and real) into his models.

We don't need to be the world's state of the art in science or medicine. We don't need to know about meteorology, climatology, natural resources, disease, pollution, economics, or really anything.

We have Gronk.

#7 | Posted by horstngraben at 2025-03-30 10:21 AM | Reply

__________
Elon Musk's Company Buys Another Musk Company
Musk said his startup xAI is... valuing Twitter at $33 billion.

#3 | Posted by REDIAL at 2025-03-29 02:19 AM
Got a good deal too... $11 Billion less than he paid for it the first time.

Ha-ha, funny. Considering the market value of still money-losing eX-Twitter was most recently estimated at about $8B-$9B.

Seriously, though, this self-dealing (similar to Elon's "sweetheart deal" acquisition of nearly bankrupt SolarCity, partly owned and run by his cousins, by Tesla and renaming it into Tesla Energy) is "valued" by Musk/xAI at $45B ($33B + assumption of eX-Twitter's $12B debt) and is likely to provide lifetime of tax write-offs. It already pushed the EV (enterprise value) of xAI to "self-estimated" $80B MV, against which Musk can seek debt or outside investment, among other bennies.

As the song says:

Hah, that's the way you do it
You play the guitar on the MTV
That ain't workin', that's the way you do it
Money for nothing and your chicks for free

__________

#8 | Posted by CutiePie at 2025-03-31 05:24 AM | Reply

Fire at Tesla dealership in Rome destroys 17 cars

www.reuters.com

The nazi junkie has fans everywhere.

#9 | Posted by reinheitsgebot at 2025-03-31 10:40 AM | Reply

As I read the headline, the image of a snake devouring it's own tail instantly came to mind.

#10 | Posted by dutch46 at 2025-03-31 12:07 PM | Reply

__________
#10 | Posted by dutch46 at 2025-03-31 12:07 PM
As I read the headline, the image of a snake devouring it's own tail instantly came to mind.

Ouroboros. Interesting visual, but analogy is not incongruous, especially in financial engineering.

As I've said here before, Musk's purchase of "X/Twitter" entity was never planned to be stand-alone, but rather a leveraged stage 1 for merger with another platform, most likely with financial or sales component - trying to emulate the Chinese all-in-one apps/ecosystems like Tencent or Alibaba.

X/Twitter was never going to go public, but xAI most likely will, at high enough valuation (Musk "proposed" the combo of xAI and X is now worth ~$80B) - not bad for a glorified search engine chatbot, trained on X-"wisdom" and disinformation. For comparison, OpenAI just closed a round of investment at valuation of $300B.

Guess what happens when xAI goes public - all personal debt Elon assumed with the purchase of Twitter will become debt of public company shareholders, allowing Musk to participate in public company riches while "sharing" the huge debt with people buying the common stock.

This is EXACTLY, only on much larger scale, the scam Donald Trump pulled when he used his [father's] name and reputation for ~$1B in personal loans for 2 casinos that he was certainly going to default on, then folded one into DJT / Trump Hotels and Casino Resorts public company, then did the same with another one... and poof, his personal debt disappeared and became "property" of the unsuspecting suckers aka DJT shareholders.

www.congress.gov - As its stock collapsed, Trump's firm gave him huge bonuses and paid for his jet - WaPo, June 12, 2016 [PDF, 5 pgs]

|------- It was promoted as the chance of a lifetime: Mom-and-pop investors could buy shares in celebrity businessman Donald Trump's first public company, Trump Hotels and Casino Resorts. Their investments were quickly depleted. The company known by Trump's initials, DJT, crumbled into a penny stock and filed for bankruptcy after less than a decade, costing shareholders millions of dollars, even as other casino companies soared.

In its short life, Trump the company greatly enriched Trump the businessman, paying to have his personal jet piloted and buying heaps of Trump-brand merchandise. Despite losing money every year under Trump's leadership, the company paid Trump handsomely, including a $5 million bonus in the year the company's stock plummeted 70 percent.

Many of those who lost money were Main Street shareholders who believed in the Trump brand, such as Sebastian Pignatello, a retired private investor in Queens. By the time of the 2004 bankruptcy, Pignatello's 150,000 shares were worth pennies on the dollar. ...

Trump said he "made a lot of money in Atlantic City," adding, "I make great deals for myself." ... -------|

This is also what current DJT Media and Technology stock is - worthless vessel to "make deals" and transfer money into Donald's pockets, not to mention his family "legitimate" crypto ventures and meme coins to "create" and launder money.

The scam is repeatable. Ouroboros indeed.

Money for nothing and kicks for free
__________

#11 | Posted by CutiePie at 2025-04-02 05:05 AM | Reply

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