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The Biden Administration and All Things Politics

str8line said:
fortune.com

Elon Musk may have to sell billions in Tesla stock to rescue X | Fortune

Plunging U.S. revenue at X risks opening up a "massive hole" on its balance sheet that Musk needs to plug to stave off its financial collapse.
fortune.com fortune.com

Ferguson based his assessment on internal second-quarter figures recently obtained by the New York Times. According to this report, X booked $114 million worth of revenue in the U.S., its largest market by far. This represented a 25% drop over the preceding three months and a 53% drop over the year-ago period.

That already sounds bad. But it gets worse. The last publicly available figures prior to Musk’s acquisition, from Q2 of 2022, had revenue at $661 million. After you account for inflation, revenue has actually collapsed by 84%, in today’s dollars.


No one knows how much longer X can survive, since the company doesn’t release financial results. But in November, Musk himself admitted X could face bankruptcy due to the advertiser boycott.

Since then all talk about reaching cash flow breakeven, let alone turning an actual profit, has ceased. In and of itself this is unusual for someone like Musk, who is comfortable announcing targets so aggressive and unrealistic that he repeatedly fails to meet them.

Pledge not to sell shares until 2025 will soon expire
The problem for Musk is that while he may be the wealthiest man alive, he cannot simply plug financial holes in X using his own personal fortune, estimated at over $236 billion by Forbes.


That’s because it is almost exclusively tied up in his various corporate holdings that include everything from rocket builder SpaceX and brain chip company Neuralink to his latest startup, xAI.

None of these investments are easily fungible. Only Tesla is a publicly traded company. So the easiest solution at his fingertips is to liquidate a portion of his remaining 12% stake.

Continually dumping Tesla shares onto an unsuspecting market, resulting in the stock plumbing two-year lows, is after all how Musk financed the bulk of Twitter’s $44 billion price tag in the first place.
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And I have been hearing bad stuff about Tesla stock (also car prices dropping drastically) lately as well.

Kinda seems like often times getting in bed with trump has negative consequences.

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spparbrtly
fishonjazz said:
Also, you didn't say it was scary. You said it was weird. Posting a picture of trump and musk kissing is definitely weird. Also expected. Cause they are weird

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ehy are so many rich people weird? Bored with life? Surrounded by yes men?
 
fishonjazz said:
And I have been hearing bad stuff about Tesla stock (also car prices dropping drastically) lately as well.

Kinda seems like often times getting in bed with trump has negative consequences.

Sent from my CPH2451 using Tapatalk
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You literally couldn’t give me a tesla. I’ll take a safe and reliable Toyota over Elon’s junk any day. He attacking his consumer base for the last few years probably wasn’t a smart idea.
 
Mongoose said:

View: https://x.com/ShemekaMichelle/status/1824263998646198645


www.walkawaycampaign.com

The #WalkAway Campaign I Patriots Fighting for America I Home

The #WalkAway Campaign is a true grassroots movement of American patriots, founded by former liberal, Brandon Straka in 2018. The #WalkAway Campaign encourages and supports those on the Left to walk away from the divisive tenets endorsed and mandated by the Democratic Party of today.
www.walkawaycampaign.com www.walkawaycampaign.com
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Yeah, I stopped about 30 seconds in. Probably the dumbest thing I'll see today.
 

Project 2025, the conservative agenda designed for a possible second Trump administration, calls for the Justice Department to “investigate and prosecute” the top election official in Pennsylvania over the 2020 election as part of a dramatic overhaul of federal law enforcement.

It’s an unprecedented threat to a specific statewide officeholder — Pennsylvania’s Democratic election chief — in a crucial swing state where Donald Trump and his allies aggressively tried to overturn Joe Biden’s victory in 2020, and a state Trump needs to win in November to regain the presidency.

Boockvar told USA TODAY her department "absolutely" did nothing wrong, and accused the authors of Project 2025 of “taking that disinformation and conspiracy theories and elevating it to a point where it’s being used to try to dismantle our institutions of the United States of America.”

Trump has tried to separate himself from Project 2025 amid a heavy backlash against many of its more radical policy prescriptions involving expanding executive power, ending civil service protections for federal workers, and fighting what the document calls "woke culture warriors." Most of the project's authors served in the Trump administration or are otherwise tied to Trump.

Among its hard right recommendations, the plan would curtail federal civil rights enforcement and redirect the Justice Department to investigate alleged fraud in state-level voter registrations.

The document says those changes would make it easier for the federal government to prosecute Pennsylvania's top election official for the guidance that office gave counties in 2020 over ways voters could cast ballots after an elections office rejected their mail-in ballot.

"It is well past time to stop arguing over the audited, verified results of the 2020 election," Al Schmidt, Pennsylvania's current elections chief, said in a statement.

So project 2025 is still obsessed with the 2020 election being stolen. Kind of reminds me of one of the current presidential candidates.
 
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fishonjazz said:

Project 2025, the conservative agenda designed for a possible second Trump administration, calls for the Justice Department to “investigate and prosecute” the top election official in Pennsylvania over the 2020 election as part of a dramatic overhaul of federal law enforcement.

It’s an unprecedented threat to a specific statewide officeholder — Pennsylvania’s Democratic election chief — in a crucial swing state where Donald Trump and his allies aggressively tried to overturn Joe Biden’s victory in 2020, and a state Trump needs to win in November to regain the presidency.

Boockvar told USA TODAY her department "absolutely" did nothing wrong, and accused the authors of Project 2025 of “taking that disinformation and conspiracy theories and elevating it to a point where it’s being used to try to dismantle our institutions of the United States of America.”

Trump has tried to separate himself from Project 2025 amid a heavy backlash against many of its more radical policy prescriptions involving expanding executive power, ending civil service protections for federal workers, and fighting what the document calls "woke culture warriors." Most of the project's authors served in the Trump administration or are otherwise tied to Trump.

Among its hard right recommendations, the plan would curtail federal civil rights enforcement and redirect the Justice Department to investigate alleged fraud in state-level voter registrations.

The document says those changes would make it easier for the federal government to prosecute Pennsylvania's top election official for the guidance that office gave counties in 2020 over ways voters could cast ballots after an elections office rejected their mail-in ballot.

"It is well past time to stop arguing over the audited, verified results of the 2020 election," Al Schmidt, Pennsylvania's current elections chief, said in a statement.

So project 2025 is still obsessed with the 2020 election being stolen. Kind of reminds me of one of the current presidential candidates.
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Weird. I’ve been told that Trump has nothing to do with project 2025 and that project 2025 has nothing to do with Trump. So why would they be focusing on punishing election officials in Pennsylvania over the 2020 election? That doesn’t seem like something Trump would want to do at all. I mean, after all, Trump took the 2020 loss well. He’s totally over it right now and definitely doesn’t talk about punishing people over 2020 every single time he speaks, right?

You sir have tds and should stop regurgitating the stuff the your media tells you. Trump is completely focused on winning in 2024 and making the lives of all working class slobs, not his top campaign donors and cultural weirdos obsessed with race and sex, better.
 
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