In a series of posts on X Monday night, Musk said that he would not want to grow Tesla to become a leader in artificial intelligence and robotics without a compensation plan that would give him ownership of around 25% of the company’s stock. That would be about double the roughly 13% stake he currently owns.
Just casually asking for a roughly 80 Billion dollar pay raise. But at this point would Tesla be better off without him?
Not wrong at all - it’s also the case that the guy who founded Netflix had dozens of sticks in the fire - lots of failed enterprises he was trying out elsewhere, and this one just hit. He didn’t even come up with the model, really, for Netflix… he’s just a privileged venture capitalist.
But what does that mean for us? Obviously, I wish it was me with the generational wealth, and not them. Obviously, I would prefer for 10,000 people to be lifted out of generational poverty in the Congo than to create more millionaires… But I treat the super wealthy capitalists tossing around massive wealth like this as something I do not have the right to do much about other than taxing them at a higher rate.
When they deliver good products by creating companies that utilize a lot of talent, I clap.
I think it is the case that technology and the mass production of goods will do more to alleviate poverty than anything else…
I mean, you go to poor countries now and even the poor people have access to a wealth of information and such through their non-flag smartphones you’ve never heard of. That’s just wonderful. It has also assisted us by letting us see what is going on in Gaza first hand. So, all these billionaires & multimillionaire investors have actually contributed to society through the decades by bringing us to a point where even fairly poor people in India or Iran can not just enjoy having internet access and a smartphone, but can also use it to report on corruption and undermine corrupt & terrible governments.