Casino economy based on griftonomics

    • Sal@lemmy.world
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      11 hours ago

      I can’t imagine wanting a multibillionaire to be richer. Those people are weird as fuck.

      • Thorry@feddit.org
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        10 hours ago

        They aren’t thinking about that, they are thinking of themselves. They are duped into thinking the stock will continue to go up indefinitely. Sure it has dipped a bit, but over the course of 1 year, it’s still up 50%. We’ve been hearing about the stock tanking all year, but in reality it’s only down 8% and will probably go up again. Over the course of 5 years it’s up over 175%. This makes it a very tempting stock to invest in, it’s big gains in a short amount of time. All you need to know is exactly when to buy and when to sell.

        At least until the ceiling is hit and the floor falls out, then the stock implodes and all the money is gone. Everyone with a brain looking at the actual company Tesla and all the idiotic stuff Musk has been doing has expected this to happen. But for various reasons this hasn’t happened yet.

        And remember a lot of things Musk has done aren’t legal at all. Blatant market manipulation, total disregard to any rules and laws. Plus all the shit he’s pulling with Twitter and xAI folding into Tesla and SpaceX. SpaceX only being held afloat by massive government investments and investments into Starlink. SpaceX is making a lot of money launching Starlink all the time. With the way they’ve designed it, those units de-orbit within a few years, being so low to be well inside the atmosphere. So they need to keep on launching to keep the network going all the time. Investors are paying for this, in the hopes Starlink ends up making enough money to pay for it. Nobody has ever gotten any similar satellite networks to be profitable, but who knows, they might make it work.

        • GrindingGears@lemmy.ca
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          8 hours ago

          What the actual fuck do you do with a trillion dollars though? Like I wouldn’t even want that headache. You’d have to work 15 hours a day, or employ a huge staff to manage that level of capital.

          The only people that want this kind of capital are supervillains with small penis syndrome.