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The news of the past few weeks has been all aflutter over Elon Musk’s purchase of Twitter.
The main issue for discussion has been, what does this mean for the future of free speech in the American public square? That’s an important issue, to which I don’t have the answer. I think that there are reasons for both optimism and pessimism. More on this issue later.
A second issue is what Musk’s Twitter venture signals as to progressive fantasies about net zero utopia. This second issue has been little discussed, let alone recognized at all, in the recent press coverage. So let me open the door.
The most logical way to look at what Musk is up to is that he is getting money out of Tesla in advance of an almost certain huge decline in its value, while placing his next bet on something else with a much better chance for major future growth. I think that he has recognized that the net zero utopia necessary for Tesla to have continuing exponential growth is impossible and not going to happen.
According to Forbes, Musk is currently the richest man in the world, with net worth in the range of $255 billion. That puts him far ahead of the next richest, who could be either Jeff Bezos or Bernard Arnault, each at around $140 billion, depending on current stock prices for Amazon or LVMH.