Do you trust Elon Musk?

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.

dennishoddy

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Dec 9, 2008
Messages
84,845
Reaction score
62,612
Location
Ponca City Ok
I wouldn't use the word "trust" but like someone said he's a capitalist so he's alright in my book. I DO think he's brilliant in the sense he gets his ideas to come to fruition. The Space X program just goes to show the private sector can do it better than the government.
He has different ideas vs NASA wanting to reuse the boosters which I think is admirable. It's working in some cases and not working in others.
The last two launches from Boca Chica Tx have resulted in failures. The latest being this week when Starship SN9 fell out of control and exploded just like the one proceeding it with SN8.
As I've stated before, he and his entities are probably the highest benefactor of government subsidies of any "capitalist" in history?
You and I are paying for these failures.

Los Angeles entrepreneur Elon Musk has built a multibillion-dollar fortune running companies that make electric cars, sell solar panels and launch rockets into space.

And he’s built those companies with the help of billions in government subsidies.

Tesla Motors Inc., SolarCity Corp. and Space Exploration Technologies Corp., known as SpaceX, together have benefited from an estimated $4.9 billion in government support, according to data compiled by The Times. The figure underscores a common theme running through his emerging empire: a public-private financing model underpinning long-shot start-ups.

“He definitely goes where there is government money,” said Dan Dolev, an analyst at Jefferies Equity Research. “That’s a great strategy, but the government will cut you off one day.”
Tesla and SolarCity continue to report net losses after a decade in business, but the stocks of both companies have soared on their potential; Musk’s stake in the firms alone is worth about $10 billion. (SpaceX, a private company, does not publicly report financial performance.)

Musk and his companies’ investors enjoy most of the financial upside of the government support, while taxpayers shoulder the cost

https://www.latimes.com/business/la-fi-hy-musk-subsidies-20150531-story.html
Nobody should bankroll the richest man in the world. He should be operating from his personal wealth like you and I have to do.
 
Last edited:

Dale00

Sharpshooter
Special Hen
Joined
May 28, 2006
Messages
7,462
Reaction score
3,868
Location
Oklahoma
He creates value.....this is in contrast to other high profile wealthy individuals who seem to simply be milking the general public. Not a die-hard fan of him personally but admire how he overcame so much to get to where he is ....and his lofty vision of making humans an interplanetary species.
 

Parks 788

Sharpshooter
Special Hen
Joined
Oct 13, 2010
Messages
3,105
Reaction score
2,916
Location
Bristow, OK
I'm surprised it took three pages and Dennis to mention that his business kicked off on the backs of the American tax payer. He wasn't unique that he got tax money but it is nice to know that at least he made something happen with it. If i had to back anyone in "big tech" or any other of these rich bastards then he his one I can get behind at this time. If he is willing to move his empire out of CA to TX then he has to have some good bones in his body.
 

Latest posts

Top Bottom