Elon musk had SpaceX buy XAi which bought Twitter all for increasingly more money from himself. The valuation is based on that. Somehow.
Apparently they claim their TAM is $28T because identifying trillion dollar businesses is their core “repeatable business model”.
Also uhh… don’t look at their declining real revenue, or that they just bought $1B of depreciating assets from Tesla like $138M of cyber trucks. That definitely was not because they weren’t selling.
How does that even happen? They just decide what their valuation is??
Yes.
Elon musk had SpaceX buy XAi which bought Twitter all for increasingly more money from himself. The valuation is based on that. Somehow.
Apparently they claim their TAM is $28T because identifying trillion dollar businesses is their core “repeatable business model”.
Also uhh… don’t look at their declining real revenue, or that they just bought $1B of depreciating assets from Tesla like $138M of cyber trucks. That definitely was not because they weren’t selling.
Yes I believe the TAM or value or whatever of a single company is 12% of all wealth in the U.S. That makes sense.
I have to be honest, I don’t know how any investor read their S1 and still wants to put money in this thing.
I mean, I know Carlin said it’s a big club and you’re not in it, but fuck. They’re all in on it.
yes. see also: capitalism