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It transfers money from xAI to himself. We are going to acquire a company that has petabytes(more?) of real content sounds a lot better to investors than, actua
by throwawayffffas 2y ago
It transfers money from xAI to himself. We are going to acquire a company that has petabytes(more?) of real content sounds a lot better to investors than, actually I will take all the money you put in this company and keep it in this pocket right here.
- ggm 2y agoBut he funded X on debt as well as his own money I believed so he's crystallised a loss. $14b disappeared.
- throwawayffffas 2y agoThe loss means he doesn't have to pay taxes on the money going into his pocket. In the meantime he still keeps X just under a different corporate umbrella.