Twitter was once a chaotic platform, but now it has transformed into Elon Musk’s personal avatar. Similar to how a dog resembles its owner, Musk and Twitter share a fusion of traits that brought them together. Both are addicted to drama, rely on simplicity, switch between seriousness and whimsy, believe that today’s words won’t matter tomorrow, and have a talent for annoying people. When one fails, the other fails.
Walter Isaacson’s biography of Musk aims to tell a larger story, but it has been condensed for news lines, leaving out the financial details. Twitter and its successor, X, often mention phrases like “blood emerald Trustafarian,” which bothers Musk because he claims his family wasn’t wealthy. The book reveals Musk’s father, Errol, who is an unreliable narrator of his own life. Errol fell into trading emeralds in the 1980s, lost everything, and made money from black-market emerald sales, but the book doesn’t explain where this money went or why his agreements disappeared.
In 1989, while attending Queen’s University, Musk worked at Scotiabank and stumbled upon Latin American debt. He believed Scotiabank could profit by buying cheap “Brady Bonds,” but the bank rejected the idea due to their existing debt holdings. This experience left Musk with a disdain for the financial industry and eventually led him to start PayPal.
Musk’s business acumen is questionable, as Brady bonds were primarily used by banks to avoid recognizing losses. Moreover, the unpredictability of emerging markets and currency devaluations could have led to a disappointing outcome. It is uncertain why the book includes this anecdote, but it may highlight Musk’s belief that innovative strategies should include opportunistic bets, relying on government bailouts.
As the story progresses, Musk becomes wealthy, starts ventures, and faces challenges. He relies on cost-cutting strategies and survives financial difficulties through subsidies from NASA and loans from the Department of Energy, rather than government rescues. The book fails to mention that Tesla has generated over $5 billion in revenue.
In summary, Musk’s relationship with Twitter mirrors that of a dog and its owner. The biography delves into his family history and questionable financial decisions. It highlights his unconventional thinking and reliance on subsidies to navigate his ventures. However, important financial details are often overlooked.
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