this post was submitted on 07 Jul 2025
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Economics

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Elon Musk said he would form a new political party called the “America Party.”

Tesla shares fell Monday after Musk’s announcement.

Tesla shareholders have wanted Musk to stay away from politics, especially after his stint at the so-called Department of Government Efficiency, which many have said damaged the automaker’s brand.

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[–] NatakuNox@lemmy.world 4 points 11 hours ago
[–] GreenKnight23@lemmy.world 4 points 11 hours ago
[–] ArmchairAce1944@discuss.online 9 points 21 hours ago (1 children)

Can we skip to the good part where is 100% bankrupt and no other billionaire bails him out and he ends up being arrested by a rookie cop doing his first drug arrest as Elon nearly ODs on illegal street ketamine and literally no one in the legal system cares when he is given a life sentence?

[–] captain_aggravated@sh.itjust.works 1 points 11 hours ago* (last edited 11 hours ago) (1 children)

I'd settle for "dies a 90 hour non-instrument rated private pilot flying the Beech Debonair he just bought VFR into IMC by slamming into a hillside trying to fly under a 300 foot ceiling."

But he wouldn't pass a 3rd class medical certificate, would he?

[–] NotASharkInAManSuit@lemmy.world 2 points 11 hours ago

I have a message. Elon Musk’s plane was shot down over the Sea of Japan. It spun in. There were no survivors.

[–] Honytawk 19 points 1 day ago (1 children)

Funny how the "America Party" wasn't created by an American.

[–] PrimeMinisterKeyes@leminal.space 8 points 20 hours ago

Hitler wasn't German, Stalin wasn't Russian.

The ~~America~~ Elon Musk Oligarchy Party.

[–] some_guy@lemmy.sdf.org 8 points 1 day ago (1 children)
[–] LadyButterfly@reddthat.com 6 points 1 day ago

Yep! Made me smile

[–] Cenotaph@mander.xyz 57 points 1 day ago

Still up 16% since this time last year. More crash please.

[–] solsangraal@lemmy.zip 131 points 1 day ago (5 children)

wild that we used to think this fucking clown was cool

[–] ThePowerOfGeek@lemmy.world 95 points 1 day ago (1 children)

And smart.

But it turns out he basically steals the ideas of better people and takes all the credit. Truly a modern day Thomas Edison. But even worse.

[–] caseyweederman@lemmy.ca 22 points 1 day ago (1 children)

Worse, for many reasons, but also: stealing Tesla's actual name this time

[–] MotoAsh@lemmy.world 23 points 1 day ago (1 children)

No. Yet again, you are giving him too much credit. He did not start Tesla nor did he have ANY hand in any of the successful designs.

[–] DragonTypeWyvern@midwest.social 1 points 21 hours ago

I'm pretty sure his PR teams were the ones behind the Tesla crush the Internet had though.

[–] iAmTheTot@sh.itjust.works 48 points 1 day ago (3 children)
[–] ReallyActuallyFrankenstein@lemmynsfw.com 42 points 1 day ago (1 children)

Well, I'll give my own impression: I was never a fanboy, but I think his PR team did a good job making him seem vaguely non-threatening and focused on bringing the sci-fi ideas into reality. I remember rolling my eyes when he appeared in Iron Man 2, and the "Tony Stark" comparisons always seemed, to be charitable, aspirational. But then he started tweeting about that cave diver being a "pedo guy," fired his PR people, and it quickly became obvious who he really was.

Basically standard tech bro protocol. Appear neutral on politics and vaguely altruistic in motive, until they have so much money nobody can stop them from being their worst techno-fascist selves. (Altman seems next in line for this transition.)

[–] Swedneck@discuss.tchncs.de 9 points 1 day ago

spot on, i never liked him but for a good while there the only things i'd seen made me go "well he seems like the least bad rich asshole"

imagine firing the PR team that pulled of a herculean feat like that

[–] uuldika@lemmy.ml 30 points 1 day ago (1 children)

I'll admit to it.

I used to think Tesla was based, since it paved the way for mass-market EVs to happen. I still think SpaceX is based because of the booster reuse and droneship recovery of Falcon 9, and the massive potential for Starship to make space massively cheaper, and Starlink for bringing Internet to rural areas/war zones like Ukraine (despite clouding the skies.)

On a personal level I found him disgusting, and as a billionaire I think he's the sickness at the core of our economy and society. The projects of his companies were genuinely useful, though.

So yeah, in 2015 he would have been closer to the bottom of my list of most evil billionaires, whereas now he's way at the top.

[–] Olhonestjim@lemmy.world 7 points 1 day ago

Yep same. For the longest time, honestly too long, he was cool and smart in my eyes. I have always loved space travel and craved a high tech, sustainable future. Not anymore. He killed much of that for me.

[–] real_squids@sopuli.xyz 10 points 1 day ago

Exactly, did anyone here think non-fictional billionaires could ever be cool? After developing critical thinking skills that is.

[–] nuko147@lemmy.world 22 points 1 day ago* (last edited 15 hours ago)

I always hated him. Peak hate was when he sent a car in space, supported Trump and did the Nazi salutes.

[–] Hubi@feddit.org 9 points 1 day ago

My claim to fame is that I disliked the guy from the very first time I saw him.

[–] burgerpocalyse@lemmy.world 6 points 1 day ago

the problem was that the things he said he was good at are highly specialized and there was not much media attention when actual experts said he had zero idea what he was doing. it took him pretending to know how to do stuff most people can instantly recognize when done poorly, like video games or speaking in public

[–] towerful@programming.dev 61 points 1 day ago* (last edited 1 day ago) (1 children)

CEO loses investors $68 billion after $56 billion pay rise

I wish I could survive my company losing money

[–] Swedneck@discuss.tchncs.de 14 points 1 day ago (1 children)

i truly do not understand how shareholders think, why the fuck would you keep tesla stocks at this point? sell them and invest in that chinese electric moped company for fuck's sake, infinitely more reliable

[–] Azhad@lemmy.world 4 points 22 hours ago* (last edited 22 hours ago)

It's very simple: his votes, plus his family votes and the fact that shares held in index and funds vote always like the boards direct and they have the vast majority and every "voting" is just a farce.

[–] Strider@lemmy.world 15 points 1 day ago

Please announce creating more parties.

[–] iAvicenna@lemmy.world 11 points 1 day ago* (last edited 1 day ago) (1 children)

7D chess, my mind can't follow.

[–] Trihilis@ani.social 7 points 22 hours ago (1 children)

I thought we were at 256D chess now.

[–] DragonTypeWyvern@midwest.social 5 points 21 hours ago (1 children)

"Why you'd pick such a random number?"- genius coder Musk

[–] iAvicenna@lemmy.world 4 points 21 hours ago

"I know for a fact that no coder would use such a number" - probably Elon Musk

[–] RadioFreeArabia@lemmy.world 2 points 21 hours ago* (last edited 21 hours ago) (1 children)

If I were in the market for an EV, I have better options than a Tesla including some that are the equivalent of sub 10,000 USD. I just don’t know how well EVs can handle +50C temperatures.

I think Mattel makes better electric vehicles than Tesla.

[–] Archangel1313@lemmy.ca 39 points 1 day ago (11 children)

They should be seriously considering firing this fuck, by now. Everything he's done for the last couple of years has cost his investors money.

[–] athairmor@lemmy.world 31 points 1 day ago

I’m happy to see the company go up in flames. Anyone still holding positions in TSLA deserves whatever happens.

[–] homesweethomeMrL@lemmy.world 14 points 1 day ago (1 children)

Hahahaha - have you seen “the board”? It’s several bought-and-paid-for dipshits and members of his family. He’ll make a good decision before they oust him.

Not happening. Never (unless it’s part of a scam, then yeah sure why not. Gotta fleece the stooges).

[–] Archangel1313@lemmy.ca 7 points 1 day ago (2 children)

Then it sounds like it would be a slam-dunk to prove in court, that the board is no longer honoring its fiduciary duties to its investors.

[–] MotoAsh@lemmy.world 7 points 1 day ago* (last edited 1 day ago) (2 children)

lol you think any court in this farce of a country holds the rich to account?!

As a certain scorpoin would say, "lol, lmao"

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[–] henfredemars@infosec.pub 33 points 1 day ago

Still massively overvalued.

📉⬇️ STONKS

Love to see it

[–] LovableSidekick@lemmy.world 1 points 21 hours ago* (last edited 21 hours ago)

Yeah that's great, Elon. You couldn't have done it like a year ago when it might have helped???

[–] brucethemoose@lemmy.world 17 points 1 day ago* (last edited 1 day ago) (1 children)

It coincides with a bunch of other stuff, like hints at Tesla regulation, tariffs, and regular wild swings just from being Tesla.

Tesla is up 16% over 1 year, 185.44% over 5 years, beating the S&P 500. Not that I would ever hold Tesla, but still, it's not like Musk's wealth has evaporated.

CNBC is basically the Fox News of finance world. Big, sensationalist and basically catering to day trader hype (not the longer term buy-and-hold crowd. You know, what the stock market is supposed to be). So maybe there's some cause and affect here, but I don't trust them on headlines like this.

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[–] Wazowski@lemmy.world 8 points 1 day ago
[–] Tollana1234567@lemmy.today 5 points 1 day ago

it was damaged before doge was created.

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