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Gotta pay the massive coupons on SpaceX's bonds, whose yields are heading towards junk territory: https://www.ft.com/content/3a023b95-66c3-41e1-b0ce-df752a4995

Gotta pay the massive coupons on SpaceX's bonds, whose yields are heading towards junk territory: https://www.ft.com/content/3a023b95-66c3-41e1-b0ce-df752a499541 https://www.ft.com/content/3a023b95-66c3-41e1-b0ce-df752a499... Having just flown some flights with Starlink internet connection, I really love the service, it's just amazing. But the rugpull here might actually break through the distortion field of Musk. It's really interesting to compare the reality distortion fields of Elon Musk and Steve Jobs. It took a looooooong time for Apple stock to get properly valued in the 2000s, after it was clear that they would take over consumer computing. Jobs' RDF worked amazingly well on aligning engineering towards consumer needs, and towards convincing consumers and (some) reviewers that they had created the right sort of products for the future. Elon Musk seems to have mastered RDF on investors plus consumers, and when you're chasing sky high valuations by always piling your prior failed "ideas" into your next big thing (i.e. next big gamble), it only takes a few bad gambles to bring down the entire house of cards.

scottyah 3mo ago
At the end of the day, there's the people who can make a vastly superior product time and time again, and they all like to work with other people who can do the same. They like to be pushed, they love solving hard problems, hate bureaucracy, and will find leaders that can accommodate all that. Elon provides that the same as Steve did.
- ben_w 3mo ago
  > people who can make a vastly superior product time and time again, and they all like to work with other people who can do the same These parts are likely pushing the best minds away from Musk these days. Not sure when that turned, perhaps Cybertruck?
  - epistasis 3mo ago
    I agree, though honestly it starts with any of Musk's product presentation events, which, frankly are all absolutely terrible compared to what Jobs would put on. Musk is good at getting money, he is not good at product design. Jobs had amazing taste, Musk has terrible taste. If Musk has a talent beyond raising money, it can be in making bold management moves, at least that's what I hear from CEOs that admire Musk. But I think in the past five years all the bold choices have not been so fantastic. Cybertruck was when people started to see that the emperor had no clothes, i think.
    - inemesitaffia 3mo ago
      But he didn't design that anyway.
      - ben_w 3mo ago
        > he Neither did Musk. Not fully at least. But while both are famous for their reality distortion bubbles, Jobs made sure the iPhone and before it the iPod and before it the iMac were products worth wanting, as well as getting investment. Musk got the investment, boasted of a million deposits, ended up with about 4-5% of that as sales despite many of those being bought by his own companies.
        inemesitaffia 3mo ago
        Musk didn't design the Cybertruck at all. The only design I remember him involved in are the charger handles and Gullwing doors. Jobs had his product failures and limited successes.

scottyah 3mo ago

At the end of the day, there's the people who can make a vastly superior product time and time again, and they all like to work with other people who can do the same. They like to be pushed, they love solving hard problems, hate bureaucracy, and will find leaders that can accommodate all that. Elon provides that the same as Steve did.

ben_w 3mo ago
> people who can make a vastly superior product time and time again, and they all like to work with other people who can do the same These parts are likely pushing the best minds away from Musk these days. Not sure when that turned, perhaps Cybertruck?
- epistasis 3mo ago
  I agree, though honestly it starts with any of Musk's product presentation events, which, frankly are all absolutely terrible compared to what Jobs would put on. Musk is good at getting money, he is not good at product design. Jobs had amazing taste, Musk has terrible taste. If Musk has a talent beyond raising money, it can be in making bold management moves, at least that's what I hear from CEOs that admire Musk. But I think in the past five years all the bold choices have not been so fantastic. Cybertruck was when people started to see that the emperor had no clothes, i think.
  - inemesitaffia 3mo ago
    But he didn't design that anyway.
    - ben_w 3mo ago
      > he Neither did Musk. Not fully at least. But while both are famous for their reality distortion bubbles, Jobs made sure the iPhone and before it the iPod and before it the iMac were products worth wanting, as well as getting investment. Musk got the investment, boasted of a million deposits, ended up with about 4-5% of that as sales despite many of those being bought by his own companies.
      - inemesitaffia 3mo ago
        Musk didn't design the Cybertruck at all. The only design I remember him involved in are the charger handles and Gullwing doors. Jobs had his product failures and limited successes.