Musk welcomes global recession: ‘it’s been raining money on fools for too long’ | Hacker News Reader

Musk welcomes global recession: ‘it’s been raining money on fools for too long’

theguardian.com

13 pointssorokod15 comments

Cheaper labor, too! It's great all around!

Except for the laborers. Who are the vast bulk of the population.

I would think a global downturn would hurt Tesla sales, as they are relatively pricey as cars. Or is he done with Tesla now?

Tesla is a relatively small car manufacturer at a time when EVs are replacing ICE cars.

I think they'll continue to grow year on year irrespective of any downturn and that's why he is not too worried.

If only Elon would shut up. Would’ve been so much more likable if he never joined Twitter.

Exactly! Can’t he just go back to being the cool rockets and electric cars guy?

I don’t think Musk gets how much damage he’s doing to not only his personal brand but also those of his companies.

Nothing prevents you from considering him likable, cool and caring. You can even imagine that you are on first-name basis with him.

First name basis? Its his name. Or are you demanding fealty to the great Mr. Musk?

I assume/presume this with all public figures. I email and call all of them. Some of them even reply and not their assistant. It's a rare treat and a fun practice.

Like him or not he speaks the truth on this one.

Of course he will say that now, Tesla has already profited from the insane stock rally in the last few years.

He's been saying that TSLA is overvalued for a long time now. Of course he took advantage of it...he would be dumb not to (everyone else is cashing in on the overvaluations of everything). He can still admit that it's stupid.

Didn’t Elon Musk become the richest man in the world during this stock rally? Didn’t he also cash out big time? Am I off base calling Tesla a quasi-meme stock?

I know. Musk could not have pulled off this stunt without that massive QE in 2020. If not for that TSLA would be at 200 ish?

Anyway, who was the main driver of that QE program? I'm not American, so I'm asking sincerely.

What would China do? Take over the company and run it for the good of the people? I'm not a fan of communism, but I wouldn't mind seeing $TSLA nationalised to repay the QE debt.

Our Federal Reserve has that authority, but as far as I know Tesla was not a target of direct QE, rather, inexperienced traders invested their money in the stock because they wanted to invest and it’s a household name.

i hope one day, farmers all over the world would protest and keep production for their own surroundings

we'd value things differently

that billionaire crypto exchange dude? "go starve elsewhere, you useless piece of shit!"

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