I think the argument is that it's messed up that a large debt swap from xAI kept Musk's margin on Twitter from being called by his investors, and now that debt is being absorbed by SpaceX.
This thread specifically excluded the big investors, but they too have nothing but loss popping the bubble: Musk has been talking up the value of their investment. If they criticize in public, they’re just costing themselves money — much safer to sell and walk away.
Well, no, the worry is that xAI's bondholders, who are also Twitter's bondholders, will be indemnified from any loss on those bonds at public expense because they are now also SpaceX bondholders and SpaceX is a national security interest of the US.
> bonds at public expense because they are now also SpaceX bondholders and SpaceX is a national security interest of the US.
If our elected officials have done a poor job diversifying risk by not just depending on one single supplied, they are to blame and we should hold them accountable.
I think unsavory business practices actually affect approximately everyone, even those not directly connected to any one particular instance of unsavory business practices.
Whoa, I had to do a double-take on the Dorsey mention -- like, didn't he take the money and run while laughing at the folks that overpaid? But it seems he's retained a 2.4% ownership stake in Twitter/X, according to Wikipedia:
Still, don't make the mistake I did, which was to read the above comment to mean "he put more money in at the time of the buyout", since he was called an "investor in X".