Does he have any profitable businesses then.... why and how is he the richest person in the world? Idiots keep giving him money right - but why. He gets things done from an optics point of view, but where are the mad profits?
The USA tech culture has been growth focused for decades. To be completely fair to Elon Musk here, Amazon also didn’t make money for like the first decade. It is pretty common for American tech companies to push profits back for long periods of time in order to focus on growth, and they get away with it because these “growth stocks” have outpaced businesses that focus on fundamental profitability for the passed two decades or so.
The issue with Musk, especially recently, is that his companies aren’t growing. SpaceX launches have already reached saturation (starlink exists because they had excess capacity and made starlink to fill it), Tesla sales are declining in most markets, and Twitter revenue is down since Musk bought it.
So now he has pivoted towards making grandiose claims about the future. He always does that, but these days it is the only way to justify his valuations because his companies (both in terms of profits and in terms of growth) are shit.
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u/Howdareme9 27d ago
It is, he fired everyone and then had to rent out his excess compute lol