Student: “So Elon Musk is a trillionaire?”Me: “Yup.”Student: “How did he get that much money?”Me: “Well, he doesn’t really have a trillion dollars cash.
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@nswigger *does* gen z hate capitalism? they're big stock buyers.
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Student: “So Elon Musk is a trillionaire?”
Me: “Yup.”
Student: “How did he get that much money?”
Me: “Well, he doesn’t really have a trillion dollars cash. He just owns a lot of stock in companies that are valued at a trillion dollars.”
Student: “So those companies make huge profits?”
Me: “Oh gosh no. They all lose billions of dollars a year. All of them. Huge losses.”The Economist headline: “Gen Z Mysteriously Hates Capitalism and No One Can Figure Out Why.”
@nswigger Capitalism is in that stage in which they make far more money when they let everyone believe they'll make money than doing actual money - the fun thing is that there is actually someone making money; well, not making it, just moving it...
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@nswigger Not to let facts get in the way of your lols but in 6/2020 Tesla became profitable after four consecutive quarters in the black.
Yes, Elon is an asshole and a huge disappointment but there would be no US EV industry without the pressure #tesla put on legacy manufacturers
I know I know buses and bicycles, I use them frequently but the majority of Americans never will but are more likely to drive an #ev
@woodenmachines @nswigger And why will they not? Because people like Elon successfully convinces everyone that projects like Hyperloop are viable, funnelling money away from trains, buses and safe cycling projects.
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@woodenmachines @nswigger And why will they not? Because people like Elon successfully convinces everyone that projects like Hyperloop are viable, funnelling money away from trains, buses and safe cycling projects.
@ahltorp @nswigger anti public transit sentiment in America goes way back, before Elon was even born. Yet another class distinction that we wrap in racism. We had loads of street car suburbs in the early 1900s, it was other industrialist that ended that, to sell us cars. #transit #streetcar #urbanism #electrifyeverything
Edit: before Elon went full fascist, who do you think was trying to convince you EVs weren’t possible? This is all the same struggle
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@ahltorp @nswigger anti public transit sentiment in America goes way back, before Elon was even born. Yet another class distinction that we wrap in racism. We had loads of street car suburbs in the early 1900s, it was other industrialist that ended that, to sell us cars. #transit #streetcar #urbanism #electrifyeverything
Edit: before Elon went full fascist, who do you think was trying to convince you EVs weren’t possible? This is all the same struggle
@woodenmachines @nswigger Yes, he's someone in a long tradition.
And we might agree (I do at least) that every car should be an EV, but mass car culture is still mass car culture, EVs don't help one bit there.
Noise pollution, tire pollution, huge paved areas for roads and parking, driver's desire for pedestrians and cyclists to keep out of the way, thus making threats of death and injury a required part of the culture.
All these problems are still there with EVs.
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Student: “So Elon Musk is a trillionaire?”
Me: “Yup.”
Student: “How did he get that much money?”
Me: “Well, he doesn’t really have a trillion dollars cash. He just owns a lot of stock in companies that are valued at a trillion dollars.”
Student: “So those companies make huge profits?”
Me: “Oh gosh no. They all lose billions of dollars a year. All of them. Huge losses.”The Economist headline: “Gen Z Mysteriously Hates Capitalism and No One Can Figure Out Why.”
@nswigger I share your dismay at the current US economic system.
The thing is Elon and his dad make it worse with their toxic political ideology which they insist on shoving down everyone’s throats. If they kept their mouths shut the world be a little better.
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Student: “So Elon Musk is a trillionaire?”
Me: “Yup.”
Student: “How did he get that much money?”
Me: “Well, he doesn’t really have a trillion dollars cash. He just owns a lot of stock in companies that are valued at a trillion dollars.”
Student: “So those companies make huge profits?”
Me: “Oh gosh no. They all lose billions of dollars a year. All of them. Huge losses.”The Economist headline: “Gen Z Mysteriously Hates Capitalism and No One Can Figure Out Why.”
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Student: “So Elon Musk is a trillionaire?”
Me: “Yup.”
Student: “How did he get that much money?”
Me: “Well, he doesn’t really have a trillion dollars cash. He just owns a lot of stock in companies that are valued at a trillion dollars.”
Student: “So those companies make huge profits?”
Me: “Oh gosh no. They all lose billions of dollars a year. All of them. Huge losses.”The Economist headline: “Gen Z Mysteriously Hates Capitalism and No One Can Figure Out Why.”
@nswigger "He doesn't actually *have* that wealth in cash, we just let him behave as though he does... Also GenZ needs to buck their ideas up and start living in the real world"
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today's wall str journal
3.4 trilion in revenue would be about , roughly, 1% of world GDP
this sounds absurd to me, but
we shall see what happens when reality meets expectation@failedLyndonLaRouchite @nswigger Are these analysts by any chance the ones who predicted a trillion-dollar market size for the metaverse a few years ago?
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Student: “So Elon Musk is a trillionaire?”
Me: “Yup.”
Student: “How did he get that much money?”
Me: “Well, he doesn’t really have a trillion dollars cash. He just owns a lot of stock in companies that are valued at a trillion dollars.”
Student: “So those companies make huge profits?”
Me: “Oh gosh no. They all lose billions of dollars a year. All of them. Huge losses.”The Economist headline: “Gen Z Mysteriously Hates Capitalism and No One Can Figure Out Why.”
@nswigger We have discovered capitalism's final boss.
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J jwcph@helvede.net shared this topic
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Student: “So Elon Musk is a trillionaire?”
Me: “Yup.”
Student: “How did he get that much money?”
Me: “Well, he doesn’t really have a trillion dollars cash. He just owns a lot of stock in companies that are valued at a trillion dollars.”
Student: “So those companies make huge profits?”
Me: “Oh gosh no. They all lose billions of dollars a year. All of them. Huge losses.”The Economist headline: “Gen Z Mysteriously Hates Capitalism and No One Can Figure Out Why.”
@nswigger You are a hit on Bluesky too
https://bsky.app/profile/adolfont.github.io/post/3mnrjdoe6oc2t -
@nswigger You are a hit on Bluesky too
https://bsky.app/profile/adolfont.github.io/post/3mnrjdoe6oc2t@adolfoneto yay?
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Student: “So Elon Musk is a trillionaire?”
Me: “Yup.”
Student: “How did he get that much money?”
Me: “Well, he doesn’t really have a trillion dollars cash. He just owns a lot of stock in companies that are valued at a trillion dollars.”
Student: “So those companies make huge profits?”
Me: “Oh gosh no. They all lose billions of dollars a year. All of them. Huge losses.”The Economist headline: “Gen Z Mysteriously Hates Capitalism and No One Can Figure Out Why.”
@nswigger i can't even think about how many people a trillionaire had to hurt to attain that much capital mass.
if he's the person that supplants a government and not one of the altruism club creeps i really gotta stop underestimating the man.
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@nswigger The key is that Elon can use the fake "wealth" to get extreme low interest loans to fund his scams.
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B bogwitch@social.data.coop shared this topic
