Notes today:- Author of BlackSwan (read it) regarding Twitter/Musk:
Nassim Nicholas Taleb @nntaleb
Musk paid $44bn for something now worth perhaps ~15 & w/ rates no
longer 0, he needs that thing only a few of us still remember called
"profits". Not "valuation", but "profits" &
"cash flow" (see finance 101). He badly needs the system (still)
driven by the minority rule. Sorry.
(AKA - betting on the come - loaded with debt; interest alone will be billions of dollars each year.)
Btw- the second largest investor in Musk's Twitter appears to be .. Saudi Arabia 👎 Meanwhile, an American citizen has been sentenced to 16 years in prison in Saudi Arabia for "tweeting" critically about the Saudi regime.
- Poland chose Westinghouse, an American (private)
company, to build its first nuclear power plant as the country seeks to burn
less coal, cutting air pollution and emissions, and to strengthen its energy
security. (Economist)
- Hundreds of thousands of Russian men have fled the country in the past month to avoid being drafted. (Economist)