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Tesla’s massive 71% profit loss pushes Elon Musk to limit government work with DOGE
(sinhalaguide.com)
this post was submitted on 06 May 2025
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71% profit loss and the stock is still waaaay up from a year ago. Our stock market is completely broken.
It's propped up by lies and insider trading
The entirety of the US economy is a house of cards
Every company is "financialized" now. They essentially run like a bank. They aren't being run based on a product or a service. They are being run to maximize returns for investors to such an extreme level that stock buybacks and layoffs are the tools used to bring the stock price up.
The stock market has been a scam for awhile and not really connected to any company "doing well". But they are essentially just shitcoins at this point. All running on whether or not people feel like they'll go to the moon or not.
People that mock Bitcoin but pretend like Tesla doesn't run on the same toilet paper thin vibes are kidding themselves.
Edit: this is not a defense of crypto. It's just an example of how fucked the stock market is. Especially in "tech" companies.
I agree completely
Not just the US's to be fair.
Sadly true
Too many countries have followed suit
My country has built wealth on what can be dug out of the ground, but there is no shortage of buyers
It will be a glorious day when this system finally implodes.
I used to think that way, but I have realised that innocent people will suffer
I'd prefer to see a weaning away from it, with people realising that never again should inequality be celebrated
They will suffer in any case. Inequality must end, by any means necessary.
More will suffer the more sudden it is.
Shut up elon.
And the subsidies Tesla enjoyed before cancelling them for other EV companies! Typical boomer, pulling the ladder up after themselves...
He was born in 71, which makes him Gen X. I'm fine with not letting him have his stupid personal brand in one more place, though.
It's the conservative way
They're cunts.
I believe this is just a case of “greater fool” syndrome.
Also, what is the Lemmy version of Rimjob Steve?
I think it's just Rimjob Steve. That's the funny thing about relying on user-generated content…
The stock market was broken from inception. It's one of humanity's biggest mistakes.
I think you just mean capitalism.