this post was submitted on 24 Jul 2023
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He bought a company that got bought by PayPal. He didn't build anything he didn't run anything. He bought an existing company that got bought out. At SpaceX and Tesla they have entire structures created to stop Elon from fucking up shit and to manage him. If you need your company organized to manage the owner and stop them from fucking shit up you don't get to claim to be smart or to build amazing stuff. In every case it's the engineers that build amazing things despite Elon's involvement. Elon himself is an idiot.
If Elon's an idiot who doesn't do anything, then why are so many of his companies successful at the revolutionary things they try? How's Blue Origin doing with its rockets, for example?
I think there's a very clear theme of "I don't like this person therefore I believe he has no positive qualities whatsoever" going on here.
Because he's a rich fuck who inherited emerald mine money to get his start, and he got lucky with his first buys and got an in with other rich fucks, and he buys good companies and sometimes he doesn't wreck them?
He didn't build any of it.
Snopes article on the "emerald money" story. TLDR, "A story about Musk's father once owning an emerald mine evolved into a larger rumor that had no evidence to support its central claim."
Musk's first company was Zip2, which he co-founded with two other people and $28,000 of seed capital from his father. He eventually sold his share to Compaq for $22 million, and used that money to co-founded X.com, an online bank. X.com eventually did a merger with Paypal, giving Musk %11 of the shares of the merged company, which when Paypal was bought by eBay gave him $175.8 million. Next up was SpaceX, which he founded with that money. It wasn't until a few years later that he bought into an existing company, Tesla, using a $6.5 million investment to buy a majority share. Tesla was quite small then as car companies go and didn't build its first car until after Musk's acquisition.
Seems to me like a consistent pattern of building up companies from small to large and then cashing out to start the next one going.
I am in no way saying that Elon Musk is a good person or that he's doing well with Twitter (though we don't know the company's internal cash flows so it could actually be that it's becoming more profitable - we'll see in the long run). I'm just saying that this Reddit hivemind stuff is getting tedious and silly. He was not a "rich fuck" when he started out, I have more money right now than Musk did back then. He is not a moron. He's an asshole, an egotist, and not good at many things. But he's definitely good at some things and has done quite well by it.
While he obviously has some intelligence, he's still very much an idiot. One just has to look at his immature and mostly incoherent public relations and business decisions to see that. Further, as smart as he thinks he is, he's not designing rockets. He pays much smarter people than him to do that for him.
People will often say that very rich people MUST be extremely intelligent, after all - they have more money than you!
I would counter that sociopathy and the ability to work with a complete lack of morals is what allows people to truly become wealthy. There's no such thing as an ethical billionaire.
Uh the just world fallacy it's strong in you.
Hardly. There are plenty of people who are as smart or smarter than Elon Musk who haven't struck it big. Given his net worth there are huge numbers of people like that who haven't struck it big.
I'm just pointing out that accomplishing what he's accomplished probably means he isn't dumb. Not in certain fields of expertise, at any rate. I'm only arguing that the "ha ha, he's a moron!" reactions here are not particularly plausible.
Thank god someone is here to stand up for the richest asshole on earth.
Musk is an asshole. I'm standing up for accuracy.