Let’s Say It.
Let’s Post It.
Let’s TikTok It.
Let’s Facetime, Truth Social, and SnapChat It.
Heck, let’s even Tweet It: Elon Musk has made a mess out of Twitter and Tesla.
He’s burning money – his and shareholders – faster than an NBA player at a strip club. He’s burning his credibility as a Genius in the process.
Musk paid 54.20 a share for Twitter. The stock had bottomed out in the low 30s in the weeks prior as Musk tried to bail, only rebounding close to the sale price when Musk was essentially forced to buy the Company. And with 50% of the Tweet Factory’s advertising pulling their business, and dozens of high-profile member defections, there is little doubt Twitter would be trading far below the 44B Musk shelled out.
The neglected child, Tesla, is of course acting out: the shares have dropped 28% since Daddy Elon bought Twitter, and 65% since January 2022.
Other carmakers, especially EV manufacturers, are doing better.
Musk is not making the evolution from Prodigy Elon to his next, highest, and best self. He is egoistic, sensationalist, impetuous and ultimately, irresponsible. He acts like a kid who takes success for granted.
Un-Evolved Prodigies age about as gracefully as a washed-up childhood actor making soap commercials.
Watching Twitter break, and ultimately, fail, will be interesting, but not nearly as interesting as seeing if, and how, the Tesla King bounces back.
We think the fall is gonna be hard.