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thesweeterpeter t1_ivukc8f wrote

The only thing in his defense (and I promise I'll probably never do it again)

He did get rich with PayPal after his x.com was acquired by them. So financial transactions are in his DNA

But it's crypto and that's a disaster waiting to happen. And it's a stupid pivot by any stretch.

He's going to destroy this company. What a stupid pet project

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nobodysshadow t1_ivul3va wrote

He didn’t “get rich” from PayPal. He may have got “more rich”, but it’s not like PayPal is what made him. He was born into being rich from the start.

Edit: maybe don’t listen to me. I thought I knew what I was talking about, but with more research, now I have no idea. There’s different stories saying different things. I also realized in my search that I really don’t care to know. I’m tired of hearing about musk and shouldn’t of even replied. Have a good day all of you

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Zeplar t1_ivumbd5 wrote

Didn't he? I know about his family, but afaik it's well documented that he didn't really have any money throughout college.

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nobodysshadow t1_ivuomrf wrote

Ok, so while fact checking myself, I’m getting all kinds of different answers. I don’t know anymore. My bad for speaking like I actually know the guy.

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thesweeterpeter t1_ivut0ke wrote

He made 175m from paypal. It was a pretty important step.

Yes he was privileged but his family wasn't stupid rich.

He's an asshole but to say he hasn't made some good/smart calls is also fairly ignorant.

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unresolved_m t1_ivukxaw wrote

But he will make cryptobros happy. That seems to be most important to him.

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voidsrus t1_ivunaan wrote

>He did get rich with PayPal after his x.com was acquired by them. So financial transactions are in his DNA

i bet paypal still has legal/compliance/security staff though.... nobody's going to trust their payment info with him, even for crypto stuff, once the breaches start

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thesweeterpeter t1_ivusbu4 wrote

Absolutely 100% I'm not saying he ran the company just that it's not a space he's wholly inexperienced in

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bitfriend6 t1_ivusv6m wrote

He can pull it off if he makes the first FDIC-insured crypto bank in the US, and do RFID phone payments. How this is useful is anyone's guess but he can integrate it with a Tesla taxi service and give people more upvotes if they spend more Musk Bucks. It wouldn't be a scam in such a case, just another low rent online-only bank competing with WePay and WU. There is probably a market for this especially if he gets big ticket names like the former President on board. There's enough idiots out there who can beilive FDIC-backed crypto is somehow better than FDIC-backed USDs.

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Vickrin t1_ivuz5y3 wrote

> Tesla taxi service

The magical taxi service he promised years ago which is further away than ever?

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thesweeterpeter t1_ivutm19 wrote

I can't see the FDIC insuring crypto. It's way too volatile.

But I'm not by any means an expert and I've been wrong about crypto a thousand times before.

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anunfriendlytoaster t1_ivwgpha wrote

This company was already destroyed… it was just a zombie company surviving off cheap debt.

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