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Well surely this acquisition is above board. Nothing funny going on here, just good old business as usual.
by baggachipz 9mo ago
Well surely this acquisition is above board. Nothing funny going on here, just good old business as usual.
- cyberax 9mo agoWell, at least this time both companies are fully private.
- SeanAnderson 9mo agoFor the next four months, at least.
- andsoitis 9mo ago> Well surely this acquisition is above board. What makes you think it isn’t?
- postflopclarity 9mo agolol
- tokyobreakfast 9mo agoIt's just "Elon zomg lulz" trolling for updoots. This place pretends to know better.
- fabian2k 9mo agoThere's an epic conflict of interest here with Musk owning most of both companies. And they're in entirely separate fields, there is no plausible synergy here to be gained.
- spullara 9mo agohe is literally going to launch datacenters into space to train ai so they are a little related edit: these replies aren't going to age well
- brendoelfrendo 9mo agoNo, he's not. And if he does, he's as big of an idiot as his detractors say that he is.
- relaxing 9mo agoNo he is not. It makes no sense from a physics standpoint or an economic standpoint. And even if they were, it wouldn’t require whatever this acquisition is.
- fabian2k 9mo agoYeah, I'm not buying that. I don't see how that could be any cheaper than regular datacenters. It might just be technically feasible, but launching stuff into space will always be more expensive than not launching stuff into space. And all those pesky technical issues like cooling might be solvable, but I doubt they're that cheap to solve.
- afavour 9mo agoHe says he is going to launch data centers in space. We should all know better than to take him at his word on that by now.
- kelseyfrog 9mo agoYou're right, but in this sense: literally (adverb) informal : in effect : virtually Used in an exaggerated way to emphasize a statement or description that is not literally true or possible. Ex: I literally died of embarrassment.
- jaccola 9mo agoYeah but who can be hurt by this, these are both private companies? So whose interest is his "conflicting" with? I'm sure the shareholders will raise it with him and/or bring a lawsuit if they aren't happy (they probably are happy).
- spiderice 9mo agoOh man, I sure hope he disclosed that
- bko 9mo agoHow can you have a conflict of interest if they're entirely separate fields? They have different interests, so where's the conflict? You don't need synergies to justify a merger. They're often used as justification as in paying well above market price. But it has nothing to do with actual justification. You can just have a holding company of businesses
- shawabawa3 9mo agoThe conflict of interests here is the conflict between musks interests and the other shareholders interests
- AceJohnny2 9mo agoMusk is notorious for shuffling assets across his companies to make some financials look better. For example, shuffling Twitter servers (and then all of Twitter) under xAI.
- readthenotes1 9mo agoNeed any solar shingles?
- AceJohnny2 9mo agomy partner got shingles a couple years ago, it was a very painful experience! (to be crystal clear, I am making a joke equating the failed SolarCity/Tesla solar shingles to the (generally considered very painful) Herpes Zoster manifestation also called "shingles")
- Hamuko 9mo agoApparently SpaceX is the ultimate vehicle for buying Elon's shit that no one else wants. They're also buying thousands of Cybertrucks. https://futurism.com/advanced-transport/spacex-buying-unfathomable-number-cybertrucks https://futurism.com/advanced-transport/spacex-buying-unfath...
- gspr 9mo agoMusk's involvement for one.
- wongarsu 9mo agoMusk has a history of having one of his more successful companies buying one of his less successful companies. xAI bought X, and Tesla bought SolarCity
- FireBeyond 9mo agoAnd hey, look at that, pure coincidence, Tesla just gave xAI $2B! Now it's back in Musk's private pockets! How handy!
- googleme 9mo agoIt's widely reported that Musk is a majority shareholder of xAI and the controlling shareholder of SpaceX (close to 80% of voting shares). Not surprising that he would be looking to consolidate ownership under one entity especially if he perceives significant synergies (i.e., data centres in space).
- alex_young 9mo agoData centers in space are a hilariously bad idea. Where would the heat go? This idea is like the opposite of liquid cooling.
- googleme 9mo agoI didn't say it was a good idea, just that if Musk perceives it's a good idea then it makes sense why he would want to combine the two businesses.
- brendoelfrendo 9mo agoI think it's far more likely that he wants to combine his businesses to roll his really expensive, debt-ridden companies into one entity with the company that actually reliably makes money.
- Hikikomori 9mo agoSome guy on hacker news argued they could just use radiators.
- Sharlin 9mo agoRadiators might be a reasonably effective way to reject heat if you can run your AI machines at 1000 K or thereabouts.
- gspr 9mo agoIndeed. But it's also a hilariously Musky idea! Some moderate technical competence paired with sociopathy and an ego orders of magnitude too big, and voila, you get Cybertrucks, Hyperloops, Neuralinks, Teslabots, datacenters in space, and all the other garbage the man spews. I cannot wait for him to one day be hit in the face by reality.
- bko 9mo agoWhat's funny? Do you think the investors are against this? The investor's aren't idiots. I imagine the typical investor in Elon Musk's companies would approve of this sort of thing. So what's the problem? Besides, its a private company with Musk as majority shareholder in both. That's the beauty of private companies, you can just do things. I wish more companies were private and ambitious. I'm tired of companies like Apple making marginal spec bumps to their phones and milking the same products for decades
- nhinck2 9mo ago> What's funny? Do you think the investors are against this? The investor's aren't idiots. Any proof of that?
- inquirerGeneral 9mo ago[dead]
- bko 9mo agoMore than 70% of voting shares supported the package, very close to the level of support in the original 2018 vote. This excludes Musks share. And consider that this is retroactive, meaning it's backpay. They're literally voting to give the guy $50b for work performed. He has a lot of confidence from his investors. And if there were issues, there would be lawsuits. Ironically the only lawsuits that get brought up, like the one about the pay package, are basically trolls, from a guy that had 9 shares. Besides the parent is the one making a claim that something not above board is going on so burden of proof is on him. Finally, it's a private company where Musk is the majority shareholder. He's moving money from one pocket into another, and any moves will be reflected in his attempt to raise money with the IPO coming this year. Why do people online pretend not to understand?
- fabian2k 9mo agoNothing in your argument is proof that the investors aren't idiots.
- deleted 9mo ago[deleted]