Lefsetz Letter » Blog Archive » Musk
I had dinner last night with a couple who have two Teslas.
They are not sure to have another one. They like cars, they keep testifying, but they don’t like Elon Musk.
How could we hear commentators raving for months about Musk’s acquisition of Twitter and none discuss the consequences of his actual ownership of the service? How come everyone with an expert opinion couldn’t see that advertisers would balk and pull their spots?
Musk is literally destroying the company, it’s on its way to bankruptcy, and it’s all his fault.
And it’s all about content moderation.
Speaking of clueless, Musk felt he could turn Twitter into a free game. Having never run a business involving advertising, he thought he was all powerful, that his will could trump everything, after all, he circumvented US law more than once with his statements and his investments and got away with it, why couldn’t he have done what he wanted with Twitter?
And it’s not just Elon Musk. It’s been a free-for-all for the rich and powerful for decades. Under the rubric of the market taking care of everything, everyone did what they wanted. And who paid the price? The people who support these companies with their dollars, that is you and me.
What amazes me about voters is that they are all moved by the problems of today, what is happening on the ground, and they do not see what is going to happen in the near future. Believe me, if the country turns right as predicted, we’re going to end up with a bunch of voters saying they had no idea, they couldn’t see the consequences, although the Democrats told them repeat again and again. As for those who say it can just be fixed in the next election, there may never be another fair election. It’s true. But you’re concerned about gas prices that aren’t under Biden’s control and you talk about the economy as inflation rages around the world, largely in the wake of the invasion of Ukraine. by Russia. And then there are all those companies with exorbitant stock market valuations, CEOs earning double-digit or even triple-digit millions, who couldn’t foresee a crisis ever happening. They made their businesses so lean, believed so much in just-in-time production, that when there was a bump in the road, they were caught off guard and still haven’t recovered and it’s been YEARS! I’m talking, of course, about the supply chain crisis. Imagine managing your wardrobe on this basis. Instead of having a closet full of clean clothes, you were delivered a clean outfit every day. Works great until there is a weather event. Or the cleaner gets sick. Or… You have to be prepared. And believe me the CEOs who run these companies are very personally prepared with their multiple homes and cars but they don’t own the company and Wall Street wants profits at all costs and here we are in a world where you can’t not even buy a car. Come on, $10,000 more than a sticker for a HYUNDAI? I’m not kidding, we were in negotiations. Needless to say we passed.
So Penguin Random House and Simon & Schuster decide to merge. All the others are doing, why not them? Think of the cost savings! And forget all the books that will never be published. And the government stops them. This has not been the case for eons except when Trump has exercised his power to punish his enemies. But that’s enough.
Usually in Europe. It is the EU that defends the consumer, against the companies. It is the EU that defends the right to privacy. But the delusional Brits decide it’s not in their interest, why be beholden to anyone else, and they vote Brexit and now the country is down the toilet, never to recover. Like Americans who vote Republican this cycle, they don’t see the big problems or the future. NATIONALISM! They believe in the team so much that they lose the game. But there are far more consequences in government than there are in sport.
So Elon Musk says he’s a Democrat, then he says he’s a Republican. And believing that social media is a true image of America, he was emboldened by his Twitter followers. Talk about groupthink…Say something unfavorable to a few and you will be inundated with hate. Play in front of the crowd and you’ll think you’re winning when you’re losing. Anyone who plays online knows that the right is more vocal than the left. Think otherwise, but I’m in the trenches every day. The right is the gotcha font. One would think that they dominate the country, whereas they do not even represent 50%. So Musk hears the right and the brothers and he has a delusional point of view. Yes, brothers. Who can’t fuck and in many cases have little economic future but believe they can win in the professional field. This is the story of GameStop. The history of the CMA. They thought they could teach the street. And although they overthrew a myopic investment company, it was the street that emerged victorious, the brothers were wiped out. It would be like your next door neighbor playing in the PGA. The golf the pros play isn’t even the same game. From a distance it looks similar, on TV it looks the same, but what they’re doing with the ball… most people are completely unaware of it.
So Musk is so delusional that he has no idea there’s more to life than business. He doesn’t realize that people judge you on your character. The whole “pedo-guy” controversy… The kids are in danger, someone else is saving them, and Musk is fuming. He beat the lawsuit, but in the court of public opinion he lost. And kept losing, over and over again.
Life is nuanced. He beat stupid journalists via data on Tesla. Yes, the writers wrote out of emotion not knowing that Teslas are basically computers, and Musk could lay out the facts. But then Elon started to believe that everything he said was true, especially on autopilot. Musk could never admit he was wrong. And when it does, people start rooting AGAINST YOU!
And his personal life is a wreck and…
Yeah, you can say it’s irrelevant, but it really isn’t, especially when it comes to Twitter, because it’s about CHARACTER, and that’s what everyone is concerned about.
Although there are several social media monoliths proving otherwise, Musk kept saying he could run Twitter essentially without moderation. He didn’t even see the traps. And on the one hand he has the right and the brothers who support him, the brothers will support everything that Elon does, like people used to support musicians, and on the other hand he has a reasonable society and the Fortune 500, who just couldn’t figure out a Twitter limit. Companies don’t want their ads next to anti-Semitic tweets. They don’t want their ads to be accompanied by hate speech at all. It can be solved, but when you throw the baby out with the bathwater, fire half your staff, no one can trust that you will solve the problems.
But the right and the brothers are VERY loud. It’s ELON, he can do ANYTHING! WATCH HIS JOURNEY!
Yeah, look at Michael Jordan’s baseball stats.
Or all those CEOs who have groups.
Just because you’re good at one thing doesn’t mean you’re good at another. And it is not because you are the richest man in the world that you are omniscient, more powerful than the others. You are just RICH! Rich doesn’t mean you can have a good relationship, or be a good parent, or be successful in any vertical except your own, but in a sold-out world where money is everything people think it’s worth. is the case.
So Musk is trying to run Twitter without fuel. In this case, it’s not gasoline, but advertisements. And as a last resort he wants to make content CREATORS pay! Yes, I am responsible for your service, you are just an empty platform unless I post, and you want to charge me for the privilege? What do I get in return? Look at the benefits of the $8 Twitter Blue, it’s laughable.
So in truth, Teslas are the most advanced electric automobiles, it really comes down to the software, but the interiors aren’t luxurious and the fit and finish isn’t to German or Japanese or even Korean standards. People are just looking for alternatives. And in China, Tesla is undercut on price.
But Elon Musk is an all-seeing titan who cannot be defeated, absolutely impossible.
It’s like Kanye. It’s almost too late for a mea culpa. And Musk is anything but conciliatory. Instead of talking about Twitter’s content moderation issues, he blames activist groups for advertiser takedowns. He’s like a kid who denies stealing the cookies from the jar. He just can’t be at fault. When all the evidence points to the contrary.
You could call it karma, but it’s worse than that. It’s a bad deal. Period. Believe me, if anyone else had bought Twitter and done what Elon did, they would be excoriated, an outcast. But since he’s Elon…
Since he is Elon, so what?
This guy doesn’t even try to make peace. He thinks he can win by sheer willpower. It’s part of growing up, when you’re a teenager you realize that it’s not because you want it, just because you focus on it, just because you exert your will, that it’s going to happen to you. want it.
Yes, the development of Elon Musk has been stopped. He’s a teenager at best. And last time I checked, Peter Pan doesn’t rule the country. The brothers are mocked. At some point, you have to become an adult.
Or else you lose.
The clock is turning. This game plan is not working. Can Musk pull it off?
It doesn’t look like it. And even worse, most people who care don’t want him to. This is what happens, the world is turning against you, only your diehard fans still believe in it. I could cite a few “musicians” to prove the example, who make headlines just like Elon, but why waste time, they don’t really count. The wreck is more interesting than the bottom, assuming there is one.
The Elon/Twitter wreckage was fascinating, Twitter itself was just an afterthought, and now that it’s getting down to business… Twitter itself is being sacrificed in the process. And we may need food and water to survive, but we don’t need Twitter.
Karma is a bitch.
But again, it’s not about karma, it’s all about Elon the man and his actions. He is responsible. He can start by owning it, there’s no solution without it, but Musk can’t reveal his weakness, can’t admit he’s wrong.
And it’s not about whether Trump is on the service or not. This is the CONTENT! Can lies and hatred spread willy-nilly?
Turns out that’s what most people in society don’t want. They want limits, they want checks and balances, and without people, the ultimate customer, the real power…
You have nothing.
Business success relies on people. And they don’t want to piss them off and sacrifice their business.
How come Elon doesn’t understand that?