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A friend who’s in the city doing bets on shorts etc told me ages ago that Tesla is a bit of a Ponzi scheme. Deflating the values keeps the scheme from bursting.
When the share price went through the roof a few months ago, that was from all the short-sellers covering their positions, plus a bit of retail FOMO. Tesla is one of the most shorted stocks, and so it is susceptible to wild swings, and it has a lot of people who aren't investors but who "believe in Elon" and buy more and more Tesla shares every month. You don't get this with BMW. At one point a couple of months ago Tesla was worth more than VW, and worth more than Ford & General Motors combined. Which is a frankly crazy valuation for a company which doesn't produce a lot of cars.
 

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He doesn’t seem to learn on the subject of insider trading.
The worst thing is, he probably isn't insider trading at all. He's just being an idiot, he can't help himself.
 

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I remember him smoking a joint on the Joe Rogan podcast, it became something of a meme. That sent Tesla shares tanking too.
 

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When the share price went through the roof a few months ago, that was from all the short-sellers covering their positions, plus a bit of retail FOMO. Tesla is one of the most shorted stocks, and so it is susceptible to wild swings, and it has a lot of people who aren't investors but who "believe in Elon" and buy more and more Tesla shares every month. You don't get this with BMW. At one point a couple of months ago Tesla was worth more than VW, and worth more than Ford & General Motors combined. Which is a frankly crazy valuation for a company which doesn't produce a lot of cars.
Or profit.
 

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I'd be interested to see your list.
Well of course my mind is not well organised enough to have an actual list.
And the "least bad" rich powerful idiot wasn't exactly a glowing recommendation either.
Putting his financial clout behind technologies which might make the world slightly better as opposed to typical rich powerful idiot strategy of raping the planet is what prompted my comment.
 

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Discussion Starter #35
Ok, let’s flip it the other way. Is there a wealthy person who does good?
 

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I'm not a huge fan of electric cars (yet), but I've no problem with Musk. He's a maverick, and the world needs mavericks.
 

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Well of course my mind is not well organised enough to have an actual list.
And the "least bad" rich powerful idiot wasn't exactly a glowing recommendation either.
Putting his financial clout behind technologies which might make the world slightly better as opposed to typical rich powerful idiot strategy of raping the planet is what prompted my comment.
Most of the rich people I can think of got rich by providing goods & services to people at a better quality or price than their competitors.

There are some bad actors in and amongst them, for sure. Not many idiots.
 

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No, he's just a bellend.
 
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