vegeta@lemmy.world to politics @lemmy.world · 3 days agoMusk's xAI swallows Musk's X in ego-friendly, all-stock dealwww.theregister.comexternal-linkmessage-square10fedilinkarrow-up134arrow-down10cross-posted to: [email protected]
arrow-up134arrow-down1external-linkMusk's xAI swallows Musk's X in ego-friendly, all-stock dealwww.theregister.comvegeta@lemmy.world to politics @lemmy.world · 3 days agomessage-square10fedilinkcross-posted to: [email protected]
minus-squaregivesomefucks@lemmy.worldlinkfedilinkEnglisharrow-up4arrow-down1·3 days agoHe borrowed money to buy twitter. It had just gotten a very bad valuation, which might have led the people he borrowed from to change terms or take collateral. By doing this, he set the “value” at 33 billion because that’s what his other country just paid for it. It’s a house of cards where if any of his projects goes under, they all will. While this is a short term help, it’s going to make people less likely to invest in xai because it’s propping up twitter.
He borrowed money to buy twitter.
It had just gotten a very bad valuation, which might have led the people he borrowed from to change terms or take collateral.
By doing this, he set the “value” at 33 billion because that’s what his other country just paid for it.
It’s a house of cards where if any of his projects goes under, they all will.
While this is a short term help, it’s going to make people less likely to invest in xai because it’s propping up twitter.