The “created vs transferred” thing is more nuanced than that.
At some point, accumulated wealth becomes power, and that power can be used to pull energy, attention, labor, and public resources out of the system for one person’s agenda.
And in Tesla’s case, the stock value creation story is insanely unorthodox, to be charitable. A lot of that valuation was supercharged by years of market-moving hype done personally by Elon: 10+ years of FSD timelines that never happened, the more recent “buy a Tesla, it’s an appreciating asset!” super-lie, the mission gradually being abandoned, GOP craps on EVs and it’s crickets from Elon, etc.
Now we have the ultimate example of wealth gravity distortion: Musk helped put Trump back in power, and the relationship looks openly transactional. But Elon is not just benefiting from Trump’s transactional nature. He is also benefiting from an administration where white collar crime and regulatory accountability seem to have basically stopped being real things.
So with all that, the kind of shady behavior Elon pulled that might normally trigger government scrutiny or enforcement is now being smothered by political influence.
Even today, Tesla appears to be the highest P/E outlier in the S&P 500 among profitable companies. So the market is not just valuing the current business. It is valuing the story, the hype, and increasingly Musk’s ability to buy influence to stay outta trouble.
And to be clear, I’m not trying to pretend nothing real was built. SpaceX is impressive. Tesla really did help kickstart the EV market. But that does not make up for the harm, distortion, and unaccountable power being exercised now.
So yes, maybe the wealth was “created” in an accounting sense. But the concern is what happens when that created value becomes an unaccountable force acting on everything else.
If TSLA is in a bubble, at some point it will implode. And then the wealth that was created is destroyed - it won't be transferred out of the company, either.
> Musk helped put Trump back in power, and the relationship looks openly transactional.
Both parties accept help from wealthy people, and yes, they do expect something in return. I don't see that Musk got anything out of it, though. Musk received 0 benefit from DOGE.
> But that does not make up for the harm, distortion, and unaccountable power being exercised now.
What power do you think Musk is exercising now?
> He is also benefiting from an administration where white collar crime and regulatory accountability seem to have basically stopped being real things.
I gave you examples of no accountability in government things. I don't see any decrease in accountability.
> Even today, Tesla appears to be the highest P/E outlier in the S&P 500 among profitable companies. So the market is not just valuing the current business. It is valuing the story, the hype,
Sure. And I bought TSLA years ago. I didn't believe his FSD hype. But he delivered on it anyway. If TSLA stock implodes, it's only going to hurt the shareholders, not you.
> and increasingly Musk’s ability to buy influence to stay outta trouble.
At some point, accumulated wealth becomes power, and that power can be used to pull energy, attention, labor, and public resources out of the system for one person’s agenda.
And in Tesla’s case, the stock value creation story is insanely unorthodox, to be charitable. A lot of that valuation was supercharged by years of market-moving hype done personally by Elon: 10+ years of FSD timelines that never happened, the more recent “buy a Tesla, it’s an appreciating asset!” super-lie, the mission gradually being abandoned, GOP craps on EVs and it’s crickets from Elon, etc.
Now we have the ultimate example of wealth gravity distortion: Musk helped put Trump back in power, and the relationship looks openly transactional. But Elon is not just benefiting from Trump’s transactional nature. He is also benefiting from an administration where white collar crime and regulatory accountability seem to have basically stopped being real things.
So with all that, the kind of shady behavior Elon pulled that might normally trigger government scrutiny or enforcement is now being smothered by political influence.
Even today, Tesla appears to be the highest P/E outlier in the S&P 500 among profitable companies. So the market is not just valuing the current business. It is valuing the story, the hype, and increasingly Musk’s ability to buy influence to stay outta trouble.
And to be clear, I’m not trying to pretend nothing real was built. SpaceX is impressive. Tesla really did help kickstart the EV market. But that does not make up for the harm, distortion, and unaccountable power being exercised now.
So yes, maybe the wealth was “created” in an accounting sense. But the concern is what happens when that created value becomes an unaccountable force acting on everything else.