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No. While that might be true if Elon were only breakthrough successful in only one business, he has done this in three: Paypal, Tesla and SpaceX.
by pasttense01 5y ago
No. While that might be true if Elon were only breakthrough successful in only one business, he has done this in three: Paypal, Tesla and SpaceX.
- luffapi 5y agoTwo of those “businesses” only exist because they are funded by taxpayers. It’s a form of regulatory capture Musk spun up off the back of his PayPal money.
- b9a2cab5 5y agoIf this was the case we wouldn't see a dearth of EV options from the competition. If regulatory capture was so profitable a big incumbent would've moved in by now.
- luffapi 5y agoThe automotive industry famously received billions in government bailouts. Musk just joined them in the gravy train.
- rkk3 5y ago> Two of those “businesses” only exist because they are funded by taxpayers. Sure, but let's not pretend that is unique. Our government subsidize many (most?) companies in Energy, Automotive, and Aerospace.
- luffapi 5y agoCertainly Musk isn’t the only beneficiary of corporate welfare. I don’t know the background of those other CEOs, but it’s safe to say if you’re getting billions in government handouts, you already have a good deal of personal wealth and connections.