Tesla CEO Elon Musk issued a warning to “woke” Americans that they are in for a “rude awakening” as the corporate world will soon leave them behind.
Musk blasted “stay-at-home” workers that believe they “don’t actually need to work hard” to succeed in the world.
The tech entrepreneur was discussing the current economic climate on Twitter when he slammed companies for “raining money on fools.”
He was asked if he thinks Democrat President Joe Biden is bumbling us into a recession.
“Yes, but this is actually a good thing,” Musk answered.
“It has been raining money on fools for too long.
“Some bankruptcies need to happen.”
He was asked how long he thinks Joe Biden and the Democrats’ recession will last.
“Based on past experience, about 12 to 18 months,” Musk replied.
“Companies that are inherently negative cash flow (ie value destroyers) need to die so that they stop consuming resources.”
Based on past experience, about 12 to 18 months. Companies that are inherently negative cash flow (ie value destroyers) need to die, so that they stop consuming resources.
— Elon Musk (@elonmusk) May 27, 2022
He then issued a warning:
“Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!”
Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen.
Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!
— Elon Musk (@elonmusk) May 27, 2022
He did offer a lighter touch later saying:
“Ya know, it’s pretty damn great to be able to talk to people from all walks of life and many countries on Twitter!
“So much to be learned, even from the harshest critics.
“Basically … I’m just saying I love all you crazy people,” he said.
He also took aim at the Democratic Party, saying:
“The degree to which the unions control the Dems is insane.
“It’s like watching a sock puppet ‘talk’ but the hand inside the sock is way too obvious!”
He said of Sen. Liz Warren’s (D-MA) idea to tax unrealized capital gains:
“This would be a super bad idea, since stocks can swing wildly from one day to the next, eg Snapchat dropping 43%. Tesla is ~40% below ATH!
“However, eliminating estate tax dodges like GRATs would be good, since probability of kids being effective stewards of capital is lower.”
