Is Elon Musk Nuts? by SIGNYM

REAL WORLD EVENT DISCUSSIONS

Is Elon Musk Nuts?

POSTED BY: SIGNYM
UPDATED: Sunday, June 14, 2026 13:56
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Friday, June 12, 2026 7:28 AM

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two

Elon Musk, Human Ponzi Scheme

With Wall Street’s help, you’re about to be forced to buy stock in SpaceX

Elon Musk promised that each of the following services would be available by 2025 if not sooner.

Yesterday I took a short trip. I began with a ride on the local Hyperloop, which ran through a tunnel dug by Boring Company. Then I used my neural implant to summon a fully self-driving Tesla robotaxi. While enroute I read the latest news from the Mars colony.

OK, none of that actually happened, because those products don’t exist. There are no working Hyperloops. The Boring Company has not dug any commercial tunnels. Tesla has a few self-driving — though not fully self-driving — taxis in Austin and nowhere else. (Google’s Waymo driverless taxis are operational in several major hubs.) Neuralink, which is purportedly pioneering brain implants, has tested its products in a handful of patients but done no more than that. And of course there is no Mars colony: there have been no manned flights to Mars, nor the prospect of any for the foreseeable future.

But these achievements weren’t enough to make Musk the world’s richest man. His wealth has, instead, historically rested mainly on self-fulfilling faith — investors believing in Musk’s genius have piled into stocks in Musk-controlled companies, and the rising value of these companies has enhanced his reputation for genius.

We have a term for enterprises that look successful because they keep drawing in new investors and keep drawing in new investors because they look successful. They’re called Ponzi schemes. And Elon Musk is basically a human Ponzi scheme.

More at https://paulkrugman.substack.com/p/elon-musk-human-ponzi-scheme

SpaceX is going public. Its initial public offering (IPO) debuts today on the Nasdaq at a price that implies a $1.77 trillion valuation for a company that had revenues of only $18.7 billion last year and lost money.

How can this, um, astronomical valuation be justified? The IPO is premised partly on the assumption that retail investors will buy in, not because they have made any rational assessment of SpaceX as a business, but because they believe that they are buying stakes in Elon Musk’s genius.

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two

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Sunday, June 14, 2026 1:56 PM

JAYNEZTOWN

Science fiction? Musk's lofty SpaceX goals unrealistic, skeptics say

https://phys.org/news/2026-06-science-fiction-musk-lofty-spacex.html

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