A person that did not do a single useful thing in their life and built their empire on exploitation and fraud became the first trillionaire.

[canleaf@mastodon.social]

@duncan_lithgow @map he pulled his trans daughter into the spotlight who never consented to this. He is full of Keratine. Nothing else. His big cars glog up cities that they are banned now. He is not smart. He has no talents. Musk family became only so rich because they were profiters of the appartheid.

[sine_nomine@mstdn.social]

@duncan_lithgow @map actual billboard in London!

[beachbum@mastodon.sdf.org]

@map His cash has come from our tax $. He never invented anything, he bought startups using grants and federal contracts from the US government.
He’s a product of apartheid S Africa. Talk about, coming to America…to shill and steal from you and me.

[nsonic@troet.cafe]

@lizzard @map I’m disgusted or at least irritated that it’s called billionaire or trillionaire when the money doesn’t exists. He ist NOT a trillionaire. It’s just a an assumption or a math … - he doesn’t get cash from selling shares. And if all is sold, others own the shares not him. As soon as everyone is selling the price goes down by a lot.
It’s purely in the books and I don’t get it that society can be build on such “fake”

[lizzard@social.tchncs.de]

@nSonic @map He gets cash from taking out loans against that imaginary value, that he pays back with fresh loans, so it's not quite real, but also not completely virtual.

[nsonic@troet.cafe]

@lizzard @map That’s why I’m quite irritated by that whole concept.
I mean: my business is worth a billion at least. Yes. Trust me! Oh BTW could you give me 100 million in cash right now? I give you shares until I pay it back. Deal?

I don’t get it. ‍️ but if someone is willing to give me that cash … I won’t say no

[duncan_lithgow@mastodon.social]

@map
Man, I get so triggered by hearing "trickle down". I heard it from the #newzealand #neoliberal #chicagoschool economists all my childhood.
@Galley

[lizzard@social.tchncs.de]

@nSonic @map it's not even shares against money that's so weird. It's the fact that Elon as a person takes a loan for his living expenses, yachts and whatever, against the company's worth, then takes out more loans to pay them. That only works as long as SpaceX gets continuously more valuable - but he can basically talk people into believing that. It's... So far removed from regular people's lives, so far away from the rules of our lives.

[admiralmemo@mastodon.social]

@imhensley @map It's close enough to mercantilism/commercialism to disguise itself as somewhat legitimate. Providing goods and services to people will always be needed, and people with novel ideas can be rewarded. (Note: "can" not "will" there.)

It's just that once people start owning the companies without contributing to the production that the problem starts.

[admiralmemo@mastodon.social]

@nSonic @lizzard @map You should watch the Extra Credits videos on the South Sea Bubble if you want to try to "get" it. https://www.youtube.com/playlist?list=PL931Bkj5KLMtJ4AMegQtekqKcCy14FCec

It's effectively just hype pushing money up. That's it. It's a house of cards that will eventually crash once someone feels there's no backing.