• @[email protected]
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    312 months ago

    Because it’s a meme-stock whose entire investor value is based on believing Elon’s obvious lies.

    • @[email protected]
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      252 months ago

      It seemed apparent to me the very first time he was on Joe Rohan that this dude wasn’t a genius, and that people have conflated his social awkwardness mixed with confidence and being noticeably on the autism spectrum with genius because that’s how they’re portrayed in movies. There’s also a helping of Americans worshiping the rich as geniuses in there. It’s weird to me that people still believe he’s a genius after so many obvious flubs that are only done by idiots.

      • @[email protected]
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        162 months ago

        I’m not one to typically whine about “late stage capitalism” but there are definitely some issues with the system when stocks like DJT and TSLA can be worth billions despite obvious corporate failings just due to the charisma of their figurehead.

        Like - how is it that we make a guy a multi-billionaire just for being an asshole? In what world is that “just”?

        • @ArbiterXero
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          42 months ago

          That’s the gimmick…. They’re worth billions “in theory” based on the last known price times the number of shares available.

          …… but it’s only actually worth what someone will pay for it……

          So the second they go to sell, they’ll find out that the “last sale price” was wildly inflated.

          Sometimes they take small handfuls and sell it to “themselves “ to try and make it look like the stock is moving and selling for higher than it’s actually worth.

          This is the difference between “on paper” and “liquidity”

          • @[email protected]
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            62 months ago

            All this nonsense has no basis in actual production and does nothing to actually benefit society, why is this the metric by which they control the world.

          • @[email protected]
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            02 months ago

            Elon sold billions in TSLA to buy Twitter though. It’s not liquid but it’s real enough.

            • @ArbiterXero
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              42 months ago

              It’s real once he sold it, until then it’s really not.

              • @[email protected]
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                12 months ago

                I mean… Yeah. This is “technically correct”. But would you say “no” to 1,000,000 options in TSLA?

                • @ArbiterXero
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                  12 months ago

                  I’d say no to 1mil options of this stupid social network regardless of what they “seem” to be worth

      • @MotoAsh
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        112 months ago

        It’s easy: Those people that still admire him are too stupid and uninformed to even know how badly he’s flubbed. They think “still rich” equals “smart”. They also fail to realize the difference between 1,000,000,000 dollars and 1,000,000 dollars … is almost 1,000,000,000 dollars. They’re too stupid to understand how undeserving he is on every level.