I completely agree, they’re perfect examples of meritocracy in action.
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For decades, Musk has operated in a placid economy where interest rates were near zero. But Musk started buying Twitter right as central banks around the world began hiking rates in an effort to combat inflation. That means the cost of servicing his debt is getting more expensive, making it harder for him to get new loans. It’s a shift so dramatic that it could rip a hole in the universe through which Musk’s reality collapses into our own.
Heehee. Oh, that article is a lovely read. So there’s a chance that when the dust settles, Musk could end up losing control of Twitter, Tesla and SpaceX, and we’d never have to hear about him again? That’d be so lovely…
Not as terrible as it could be, though (from the above Business Insider article):
If Tesla shares fall below a certain level, the banks can call in those personal loans — leaving Musk on the hook.
The banks are going to lose billions on the deal, though.
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Of course he did. As it turns out, “Lose money now, ask me how,” is not a very good pitch.
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Then there’s the $1B loan he got from SpaceX. At the center of the Xitter/Tesla/Boring Co/SpaceX web is Musk. That financially ‘fluid’ personality-driven relationship should make loaners and investors very nervous… short and long-term.
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Hang on, I’ve got this:
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