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This guy made his money from SLAVERY
what?
I think they are either refering to child labor in cobalt mines, which was used for Tesla power elements, or to his father's emerald mines. There's no evidence of direct people-owning slavery in either case, still a lot of shady and immoral (and probably illegal) practices to earn money in both of them.
The entire premise behind this post is equally as out of context. China uses patents as blueprints. In Spacex, patenting things is counterproductive. In terms of US competition it is not.
The guy is still a dick and he does manipulate markets. I would also argue that he doesn't have a case here. All that being said, being misleading does not help you win folks to your side. I thought we were trying to leave this stuff behind on Reddit.
oh that
His parents owned an emerald mine during apartheid where the working conditions for miners (all black, of course) could accurately be described as slavery. He was literally walking around with emeralds in his pockets like some fucked up little prince.
Anyway, that's how he got his startup capital.
Billionaires being pieces of crap, what a surprise.
Yeah, almost as surprising as rain in Scotland or drought in the Sahara 🤷
As some context during aparteid it was not uncommon for black South Africans to make 300 to 500 Rand a month. Yes, you are all reading that right. 15 to 35 USD a month.
This is a common misconception. His daddy loaned him a whopping 28 grand. Nothing mind blowing, and certainly not what you'd expect the heir of a freaking emerald mine to get their hands on.
Elon Musk got most of his capital early in his career from the sale of his first company, Zip2, which he co-founded with his brother Kimbal in 1995 using $28,000 borrowed from their father[1][6]. In 1999, Zip2 was sold to Compaq for $307 million, with Musk earning $22 million[1][6]. Musk then invested $10 million of his Zip2 proceeds into founding X.com, one of the first attempts at online banking, which later became PayPal[1]. After PayPal, Musk invested all of his proceeds into his new projects: SpaceX ($100 million), Tesla ($70 million), and SolarCity ($10 million) [1]. By 2008, he was almost penniless and living on $200 thousand monthly loans from his friends after a $20 million divorce[1]. However, his fortunes changed, and by 2017, his net worth had risen to $16 billion[1].
Citations: [1] https://www.toptal.com/finance/venture-capital-consultants/elon-musks-investments [2] https://time.com/6127754/elon-musk-net-worth-person-of-the-year/ [3] https://money.com/8-innovative-ways-elon-musk-made-money-before-he-was-a-billionaire/ [4] https://en.wikipedia.org/wiki/Elon_Musk [5] https://financebuzz.com/jobs-elon-musk-had-before-wealthy [6] https://www.sitebuilderreport.com/origin-stories/elon-musk>
Source for the pivotal claim: another article. The source of that article: a Rolling Stone interview of Musk himself.
You can't trust malignant narcissists about themselves and their early lives, especially not ones like Musk who lies about the death of his own child
Okay, and the OP's source for Elon's success coming solely from daddy's money and nothing else is what?
Musk has publicly laid out that anybody can get rich writing software without much startup capital - which not only makes sense but by all accounts seems to be exactly what he did.
Nobody said solely, but the source is daddy emeraldbucks himself.
Your hero isn't a genius. He's just a lucky narcissist with the money to buy succes and the shamelessness to constantly brag about how superior he thinks he is to everyone.
You're a fool if you think he's my hero
If you're not a fanboy, why are you going out of your way to run interference for him? Just like the taste of boots or are you one of those "billionaires get a bad rap" numbskulls?
There's no need for anyone in the western world to frown upon that. Literally all of us started out with the wealth that our ancestors violently extracted from colonies.
Just because you didn't personally inherit millions doesn't change the structural fact. All our industries jump-started by getting stuff from colonies. It was a big rush among the colonizers, and those who didn't do successful colonize are not among "first world" countries today.
Musk is guilty of much, but his sin in benefiting from his parents sins is different from yours only in scale.
Except I don't deny my privilege, which is on such another scale as to be in a completely different world.
Besides, he doesn't just pretends to be self-made, he downright believes that his success comes from him being a genetically superior genius. He is consciously siring as much offspring as he possibly can (10 so far, 9 surviving, one of which publicly disowned him) to provide the world with future heroes. To call him a regular level narcissist would be akin to call a tiger a slightly oversized house cat.
Lastly, I refuse to buy Nestlé products because some of them were made using slavery. Musk made his first fortune on the backs of slaves, treats his current employees as similarly to slaves as he can get away with and subjects them to both racist and sexual abuse.
I may have the privilege of being born a cishet white male in a rich country, but that does NOT mean that I'm the equivalent of Apartheid Emerald Boy. Scale matters and immense differences in scale matter immensely.
I agree with you in as much as "don't hate the player hate the game" but at the same time, this is not basketball. This is people knowingly exploiting others. Who cares if "its the norm"?
This makes a lot of sense. But where did the colonizers get their money?
yea. not sure how true this is, but i do remember reading that the emerald mines business wasn't as profitable as people think it is or smthg.
Admittedly it is not 100% true for all first world countries, when we’re discussing outside Europe it’s a slightly more complex. For America it was not colonialism but imperialism, but that doesn’t change the moral argument. Those states in Asia that are first world I don’t know enough to talk confidently (and with that you know I’m not ChatGPT)