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> His dad invested $200k at 10% at a later stage You're reading that wrong. Elon is claiming his dad invested 10% OF a $200k round of seed funding. The actual
by concordDance 3y ago
> His dad invested $200k at 10% at a later stage
You're reading that wrong. Elon is claiming his dad invested 10% OF a $200k round of seed funding. The actual amount was $28k. (See wiki: https://en.m.wikipedia.org/wiki/Zip2 https://en.m.wikipedia.org/wiki/Zip2 )
- throw93 3y agoI was being more charitable to Elon by trusting what he said himself. I know the $28k number. Almost 40% of the households with college age kids earn less than 70k before taxes. How many would be able to afford to give a $28k loan to their kids? Source - https://www.statista.com/statistics/782411/parental-income-of-freshman-college-students-us/ https://www.statista.com/statistics/782411/parental-income-o...
- concordDance 3y agoYou weren't being charitable to Elon, you just either misread what was in the tweet or mistyped and claimed his dad invested $200k. Median household income is $70k, so I'd expect you'd need to be upper middle class or quite good with money to loan $28k to your kids. I certainly won't argue that the Musks were poor, but there's a very big difference between "able to help their kids through college and loan $28k" and "silver spoon trust fund kids".