SpaceX has acquired xAI, the company announced on Monday, merging two of Elon Musk’s most ambitious companies into the most valuable private company in the world.
SpaceX was his one good company thanks to the work of people like Gwynne Shotwell. xAI must not have been getting enough investor interest and rather than admit it’s a stinker, he’s shackling spaceX with it.
If I were a spaceX investor, I would be absolutely pissed about this and talking to my attorneys.
xAI must not have been getting enough investor interest and rather than admit it’s a stinker, he’s shackling spaceX with it.
This is the same thing Musk did saddling Tesla (and Tesla public shareholders) with the debt of the failed company Solar City run by his cousin.
So he’s making his 2 barbies kiss?
Is he just writing off the astronomical debt (pun intended) from xAI and X with this move?
He is also tying it to a company (SpaceX) that the US government relies on, so in the event one of the other basket cases drags everything else down he is trying to ensure he will get bailouts. Any sensible and non corrupt government would just require the dead bits cut off, but we know that isn’t what is in place right now.
