An Investment in a Science Fiction View of the Future Is Going to Come To an End, and We Will All Suffer As a Result. Big Tech Is Rushing to Bankrupt the USA
Anyone who is investing in Musk is continuing to invest in the future, for a version of science fiction which will never happen. And because Musk is also behind removing regulations to protect American’s retirement accounts from such risky investments, within the next few weeks a majority of Americans’ retirement accounts may be left holding the bill for these mammoth Big Tech IPOs, whether they want to or not.
They say Rome did not fall in one day, but America just might:
Elon Musk temporarily became the world’s first trillionaire shortly after SpaceX joined the NASDAQ, however billions of dollars have been wiped out of SpaceX equities, and it has since been stated that SpaceX will also incur approximately $20 billion in debt.
Musk loses his trillionaire status as SpaceX shares ‘come down to earth with a bump’
The Guardian
Excerpts:
Musk’s return to the ranks of the billionaires comes following a drop in SpaceX’s shares during the last week, after the initial surge in their worth when it debuted on the public market two weeks ago receded.
During its initial public offering, SpaceX sold shares to investors for $135 each. They rose to $176 on the first day of trade on June 12, making Musk the world’s first trillionaire, and peaked at $225 on June 16. But they then fell back to $156 last night, following a 16% drop on Monday.
In early trading today, SpaceX’s shares fell 1.35% to $154.00.
Susannah Streeter, Wealth Club’s chief investment strategist, says:
SpaceX has landed with a bang, expelling the majority of its post-launch fuel.
The sell-off may have been spurred in part by the announcement that it was considering a bond issue for approximately $20 billion. Issuing debt at such a high valuation raises concerns about cash flow for this extremely capital-intensive undertaking.
In addition to his about 40% interest in SpaceX, Musk controls approximately 12% of Tesla.
More bad news for Tesla today, with another accident reported that killed a woman while the Tesla was apparently using “automated driving assistance”.
Victim’s family in a fatal Texas Tesla ‘automated driving assistance’ crash files lawsuit.
Attorneys for Martha Avila’s family stated that the Tesla was in “Autopilot” mode when it collided into the 76-year-old woman’s home, killing her.
Excerpts:
The family of a lady murdered when a Tesla in autonomous assist mode slammed into her Houston-area home has sued Tesla and the driver, attorneys said Tuesday.
The lawsuit, filed in Harris County District Court by Martha Avila’s 76-year-old daughter Jennifer Barbour and her husband, Justin Barbour, claims a “design defect” involving Tesla and failure to warn. It accuses Tesla and its driver, Michael Butler, of negligence.
According to officials, Avila was in her brick home in Katy, a Houston suburb, when a Tesla Model 3 smashed into it around 8 p.m. on Friday.
She was transported to a neighboring hospital and later confirmed dead, according to the Harris County Sheriff’s Office.
Butler “stated he was operating with an automated driving assistance system engaged at the time of the crash,” according to the sheriff’s office.
According to the office, Butler was helpful and exhibited no signs of intoxication.
Elon Musk is a fake, and investors are finally realizing it, despite the fact that I and many others have been saying it for years.
So far, he has created “about 20 driverless Tesla Model Y vehicles in Austin, Dallas, and Houston,” after spending billions of dollars on his projected mass manufacturing of “robotaxis.”
From MarketWatch:
If you buy Tesla shares, most of what you’re paying for above the carmaker’s worth is a bet on autonomy and artificial intelligence that has yet to show up on the earnings statement: full self-driving software, the Optimus robot, and a robotaxi network.
The robotaxi is the most immediate and testable component of that bet, with approximately 20 driverless Tesla Model Y vehicles deployed in Austin, Dallas, and Houston this spring.
The automobile business is valued in the same way that investors price every other automaker, and it accounts for only a percentage of the stock; the rest is the market’s bid on that future, a premium that no ordinary carmaker could bear.
What’s different is that the bet may now be tested against actual operating data rather than projections.
Everyone is illogical and ignorant; every jeweler is embarrassed by his idols. His visuals are a forgery; they contain no breath. Jeremiah 10:14.
