3 ms·

Honestly this was a no brainer smart thing to do and any large company could have pulled it off not just Musk. By being one of the first mainstream large compa

by anm89 6y ago

Honestly this was a no brainer smart thing to do and any large company could have pulled it off not just Musk. By being one of the first mainstream large companies to buy bitcoin you are sending out a strong positive signal on bitcoin which is likely to move price up. So just buy it, take your premium and then sell some.

pavlov 6y ago
They could do that. But in most public companies, the board would prevent the CEO from spending his time speculating with company money on the price of penny stocks or pound sterling or pork bellies or cocoa futures or whatever other instrument that's unrelated to the company's actual business. Let's just say Tesla doesn't have the governance of a normal public company.
- anm89 6y ago
  Good point. I think some other companies might be able to get away with it but probably a majority couldn't.
- bradwood 6y ago
  Same with MicroStrategy -- but Michael Saylor, their CEO, took them through the process and eventually won them over. It's worth googling more on this.
deckard1 6y ago
Musk has a cult of personality. He's practically a real-life walking talking meme at this point, which seems to be the real driver behind crypto. Could Jeff Bezos or Zuckerberg move bitcoin like that? From a tweet? Doesn't seem likely. Is anyone hyped up about Libra/Diem/whatever the hell it's called now? Musk tweeted about Signal and they went from 50k downloads a day to 1.3M [1]. An unrelated company, Signal Advance, saw their stock soar. Which... I mean... wow. [1] https://www.cnet.com/how-to/what-is-signal-everything-you-need-to-know-about-elon-musks-app-recommendation/ https://www.cnet.com/how-to/what-is-signal-everything-you-ne...
- anm89 6y ago
  You're responding to something I didn't say here. I didn't claim that every company would have the exact same outcome as Musk or that he has no advantage. Certainly Musk has an advantage here but other companies could have done the same and probably still succeeded. The odds and outcome would not have been exactly the same, which is true of literally everything in life for different people.
  - deckard1 6y ago
    > You're responding to something I didn't say here. ... > other companies could have done the same and probably still succeeded. Come the fuck on. I'm literally replying to this idea that any other company could do the same. Your exact words: > any large company could have pulled it off not just Musk
    - anm89 6y ago
      Premise 1: Musk has an advantage in the markets Premise 2: No company that Musk is not involved with could gain a competitive advantage via the signal they send with a bitcoin purchase. Premise 1 and premise 2 have no relationship. Stating something about one does not tell you anything about the other. You could logically believe any combination of these premises So by stating 1, I'm not implying 2. In fact I'm agreeing with 1 and refuting 2. Whereas you seem to be implying that if I believe 1 I have to believe 2. This is not the case.

by anm89 6y ago

pavlov 6y ago

They could do that. But in most public companies, the board would prevent the CEO from spending his time speculating with company money on the price of penny stocks or pound sterling or pork bellies or cocoa futures or whatever other instrument that's unrelated to the company's actual business. Let's just say Tesla doesn't have the governance of a normal public company.

anm89 6y ago
Good point. I think some other companies might be able to get away with it but probably a majority couldn't.
bradwood 6y ago
Same with MicroStrategy -- but Michael Saylor, their CEO, took them through the process and eventually won them over. It's worth googling more on this.

deckard1 6y ago

Musk has a cult of personality. He's practically a real-life walking talking meme at this point, which seems to be the real driver behind crypto. Could Jeff Bezos or Zuckerberg move bitcoin like that? From a tweet? Doesn't seem likely. Is anyone hyped up about Libra/Diem/whatever the hell it's called now? Musk tweeted about Signal and they went from 50k downloads a day to 1.3M [1]. An unrelated company, Signal Advance, saw their stock soar. Which... I mean... wow. [1] https://www.cnet.com/how-to/what-is-signal-everything-you-need-to-know-about-elon-musks-app-recommendation/ https://www.cnet.com/how-to/what-is-signal-everything-you-ne...

anm89 6y ago
You're responding to something I didn't say here. I didn't claim that every company would have the exact same outcome as Musk or that he has no advantage. Certainly Musk has an advantage here but other companies could have done the same and probably still succeeded. The odds and outcome would not have been exactly the same, which is true of literally everything in life for different people.
- deckard1 6y ago
  > You're responding to something I didn't say here. ... > other companies could have done the same and probably still succeeded. Come the fuck on. I'm literally replying to this idea that any other company could do the same. Your exact words: > any large company could have pulled it off not just Musk
  - anm89 6y ago
    Premise 1: Musk has an advantage in the markets Premise 2: No company that Musk is not involved with could gain a competitive advantage via the signal they send with a bitcoin purchase. Premise 1 and premise 2 have no relationship. Stating something about one does not tell you anything about the other. You could logically believe any combination of these premises So by stating 1, I'm not implying 2. In fact I'm agreeing with 1 and refuting 2. Whereas you seem to be implying that if I believe 1 I have to believe 2. This is not the case.