this post was submitted on 13 Jun 2024
153 points (95.8% liked)
A Boring Dystopia
9602 readers
2974 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
What is it about humans that makes us so gullible and susceptible to parasocial star worship, against clear self-interest?
I suppose it's the P.T. Barnum quote - a timeless trait of humanity, and social media and the Internet has just made it more efficient for fewer narcissists to fool more people much more quickly. But these shareholders just voted to throw away their money and cheered when they won.
I just think of mentally ill persons who are a danger to themselves breaking free of restraints to stab themselves in the eye with a fork, and then celebrating.
What the fuck they going pay him with? The company never even made that much money. Guess Telsa is closing it doors.
I think they’re going to give him newly-issued stock, not cash. However, the newly issued stock will not be backed by new capital (i.e. nobody would have given the company money in exchange for the stock), so what will happen is that existing shares will have their values diluted, i.e. they will be worth less.
In other words, shareholders will pay for Elon’s compensation by devaluing their investments, and not by drawing money out of Tesla’s coffers.
$56B is roughly 10% of Tesla’s market cap of $581B, so shares should be devalued by about that same rate.