from Hacker News

Elon Musk sets stage for Tesla to bail out Twitter/xAI at an insane valuation

by JustExAWS on 4/8/25, 2:54 AM with 6 comments

• by ggm on 4/8/25, 4:12 AM

  In a sane world, the SEC would be knocking down the door of the portakabin where Musk sleeps. This is really bizarre behaviour.

  Much though it may distress them, His saudi friend(s) and Larry can afford to take the hit. It would be better for all of us, if the actual value of this enterprise was there, for all to see, from book value, revenue, and rational projections.

  But no: it's value is defined as whatever Musk can make it, based on his ability to direct investment of other companies also under his control.