Perhaps they are only surrounded by Yes Men who don’t attempt to educate them or advise when they are wrong/under-informed.
I don’t think Musk’s brand suffers because of what he’s doing in DogeCoin. Crypto and the broader economy continue to have limited connection. Nobody reasonable will turn down Cuban’s business or term sheet because someone else lost money on TITAN. The networks are mutually exclusive.
That itself may be a reference to Mark Cuban appearing in an episode of Entourage as himself, promoting an investment in a tequila brand.
Do you mean something other than “my guess is” here?
There are other better cryptocurrencies for facilitating transactions, in terms of speed, fees, energy cost, etc. He should have known some of this before publicly jumping on the Bitcoin wagon.
Then when he did clue in a bit, he made the move to Doge and chirped about how it required less energy than Bitcoin. But it is still much higher consumption and much slower transaction speed compared to something like Stellar.
All this leads me to believe that nobody was educating him, and he wasn’t speeding enough time to come up to speed.
I don’t expect him to be an expert in everything, but he could have at least consulted with some experts.
Musk, separately from Tesla plays with Doge. As far as I know Tesla hasn't accepted or invested in Doge.
But that’s SO much worse! He’s coaxing his followers to dash out in front of a steamroller to help him — a billionaire — pick up pennies. He’s “just playing around” with peoples’ life savings.
It would be far less reprehensible if Musk held sincere but misguided beliefs in Doge but “just meme-ing” is unconscionable. Especially for someone with his exorbitant wealth to do so at the expense of those with far fewer resources.
>Cuban and Musk are not savvy (crypto) investors. Just because they are rich and successful in one domain does not make them experts in others. Perhaps they are only surrounded by Yes Men who don’t attempt to educate them or advise when they are wrong/under-informed.
It's unreasonable to expect someone who's been shit posting on twitter for years to stop because people are for some reason taking him more seriously after Tesla 10x'd. He's always been a shit poster.
That's what he got in trouble for a few years back, when he "decided" to meme himself a securities fraud violation.
Not sure how much sympathy people putting their life savings into DogeCoin deserve, on the grand total diligence of a tweet no less.
But looking past that, who to you has the greater responsibility in this moment? The gambler who can't stop until he/she loses everything? Or the knowledgeable CEO that runs 2 companies, and yet can't stop himself from messing with people that don't know any better?