Noteworthy News

[Nanny]

Galaxy brain move, that.

How many billion has he lost now on Twitter ?

Musk put his 9% stake in Twitter up as equity for over $30B in investments. He may not lose a dime of his own money.

[Jackalope]

Galaxy brain move, that.

How many billion has he lost now on Twitter ?

I haven't seen an update since, but in my May, my investment broker (Fidelity) announced that they thought Twitter was worth as low a third of what EM paid for it.

[BrianSoddingBoru4]

Boru

[Nanny]

How many billion has he lost now on Twitter ?

I haven't seen an update since, but in my May, my investment broker (Fidelity) announced that they thought Twitter was worth as low a third of what EM paid for it.

It was a leveraged buyout. Musk put his own stake in Twitter up as collateral to secure debt financing. Twitter then borrowed 30+ $Billion to fund the transfer. Musk has very little skin (relatively speaking) in Twitter.

[brewer]

I haven't seen an update since, but in my May, my investment broker (Fidelity) announced that they thought Twitter was worth as low a third of what EM paid for it.

It was a leveraged buyout. Musk put his own stake in Twitter up as collateral to secure debt financing. Twitter then borrowed 30+ $Billion to fund the transfer. Musk has very little skin (relatively speaking) in Twitter.

Makes it all that much easier for him to tear it down.

[Silver]

COP28 president says there's "no science" in fossil fuel phase-out calls

COP28 president Sultan Ahmed al-Jaber's newly reported comments that there's "no science" behind the push to phase out fossil fuels were criticized by activists at the U.N. climate summit in Dubai on Sunday.

Context: The UAE climate envoy and CEO of state oil firm ADNOC made the comments during a Nov. 21 online discussion while being challenged to take a lead on the matter by former Republic of Ireland President Mary Robinson, a longtime climate activist, per video that The Guardian published Sunday.

Flashback: United Nations Secretary General António Guterres said Friday: "The science is clear. The 1.5 degree [2.7°F] limit is only possible if we ultimately stop burning fossil fuels — not reduce, not abate, [but] phase out with a clear time frame aligned with 1.5 degrees."

Zoom in: Robinson said at the SHE Changes Climate online event that the climate crisis is "hurting" people because there's no commitment to a fossil fuel phase-out, as leaders of the EU and others have called for.

Al-Jaber said there "is no science out there, or no scenario out there, that says that the phase-out of fossil fuel is what's going to achieve 1.5°C" above preindustrial levels, a Paris Agreement target.

Axios

[Silver]

Jeff Bezos Donates $120 Million to Fight Homelessness, Then Invests $500 Million to Make It Worse

Common Dreams

[arewethereyet]

The company where Husband works makes air conditioner parts for cars and trucks. They recently started making things for Melon Husk. They are not allowed to say Tesla at the plant, they must refer to that part of production as Taxi.

[Gawdzilla Sama]

I liked the Elon Musk clone in "Venom."

[Silver]

Warren Buffett has a genius plan to 'end U.S. deficit in 5 minutes'

Warren Buffett has a simple way to stop the increasing debt.

It comes from a clip taken in 2011, when CNBC's Becky Quick asked the billionaire investor what he might do to solve the growing problem. The clip has since resurfaced online.

“I could end the deficit in five minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of
Congress are ineligible for reelection," he said,

"Now you've got the incentives in the right place. So it's capable of being done. ... A more effective threat would be just to say, if you guys can't get it done, we'll get some other guys to get it done."

The Street