I'm absolutely going to keep enjoying Musk's comeuppance. In this, consider me a traditionalist. As the Greek tragedies show, people have been enjoying the just punishment of hubris for thousands of years.
And still be the wealthiest individual on the planet.
He could do it another 5 times and still be a billionaire.
Yes, I’m aware his net worth doesn’t mean liquid assets but the point remains.
No one can lose 40B and come out unscathed, not even Musk.
But basically from the moment he tried to buy Twitter, he's been ruining that reputation. It started with the business press, who have more of an incentive to see through the BS, and who quickly pointed out that it was a clown show of a takeover even before the Delaware courts forced him to buy it. That alone put a major dent in Tesla's stock price.
Now everybody has gotten to see how bad he is at running Twitter. Most of us didn't know shit about launching satellites, but a lot more people understood Twitter. By objective measures, things have gone terribly, and there have been waves and waves of stories showing that Musk is not half the genius he was painted as. Which has caused a lot of questions being asked about all of his businesses.
So now we're entering an age of electric cars, with global intent to switch. But Tesla, the nominal leader, has a stock price down 40% from its peak, and with widespread questions about how well it can really do. And part of that is definitely brand damage from Musk; I recently saw a Tesla with a bumper sticker that said, "When we bought it, we didn't know he was an asshole." Surely that has something to do with weakening sales despite previously unheard-of discounts.
Maybe Musk will get it together, and mainly for the sake of others, I hope so. But if I had to bet, it would bet that his launching a bid for Twitter will be seen as a turning point where he began a long slide into irrelevance.
That said, his historical pattern is not to sell out so quickly, but rather to keep iterating until he and his team get it right.
Even Musk values it at $20 billion: https://www.theverge.com/2023/3/26/23657182/elon-musk-twitte...
And that was a few months ago. I'd argue that one of Twitter's most valuable assets, the blue checkmark, has been irrevocably destroyed. And if I were looking at buying it, I'd also be concerned that the technical infrastructure is a significantly impaired asset, possibly one of negative value.
Why rush things when you can fail 5 times and still try again?
I agree that people enjoying suffering generally is pretty bad, and I avoid it. But I make an exception for people who cause suffering receiving the just consequences of their terrible actions. If Musk were just some guy who were living a quiet life and then got cancer or something, I'd feel for him. But he's not. He's someone who's been aggressively a jerk for more than a decade.
His deciding to take on being a CEO of yet another company, one he didn't really understand except as a user, was bad enough. But as a former Twitter user and employee, I've had to watch him destroy something that a lot of people, me included, worked very hard on. I've had to watch him harm thousands of people quite directly, and many more indirectly. And all for nothing more than his arrogance and some half-baked clout-chasing notions.
So I am absolutely going to enjoy the fuck out of his serial rake-stepping. Could this be bad for me? Well that's a question I will take seriously from somebody in saffron robes that spends 10 hours a day meditating. But it's not one I'll entertain from the Volunteer Musk Defense Brigade, and especially not from one of its members who was busy performing lack of empathy recently on this very site: https://news.ycombinator.com/item?id=35824824
And in an irony of ironies, you crawl through my post history and take objection to me expressing my lack of empathy for those that make repeated bad financial decisions, but you're not only defending that very sentiment, but taking it a step further: enjoyment of the suffering. I hope you find peace, brother. I'm going to put my robes back on and get those last few meditation hours in now.
But you're only objecting to it when it's somebody you like. When it's poor people, you're fine with trumpeting your imagined moral superiority. But when it's a famous rich guy, you're out here doing free PR on his behalf. You did not "go build something" then, and you're unable to even reflect on your blatant double standard.
You have no standing to moralize at me. And just to be clear, what I feel for you is not spite, but contempt, because you're not only a hypocrite, but you're using what might be otherwise valid moral points to derail discussion of one of the world's biggest jerks. Motes and beams, buddy.
Advertisers, the one group Elon is desperately trying to accommodate, will care.