"I used to have an “Elon Markets Hypothesis,” where the value of a company was determined not by its cash flows but by its proximity to Elon Musk. But now we have a world where President Trump can inflict arbitrary harm on companies he doesn’t like,
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and confer arbitrary benefits on companies he does like, and he does both all the time. Giving him a 9.9% stake for free might be a good deal, just to get him on your side."
aug 25, 2025, 6:41 pm • 1 0 • view