Musk has the world's largest car company been market cap, and one of the smallest car companies by sales. The reason that he's made so much money is Central economic planning gone absolutely amok, not because any of his companies are particularly good.
Problem is, when you've won so completely by becoming the world's richest man -- even if it's largely unearned -- you start to believe your own hype.
I think that really applies to most of big tech. They think that they are the winners because they are so brilliant, but really they just happened to be in the industry that received unprecedented benefits from the government and from central bank largesse by being the hot new thing during a debt bubble.
Problem is, when you've won so completely by becoming the world's richest man -- even if it's largely unearned -- you start to believe your own hype.
I think that really applies to most of big tech. They think that they are the winners because they are so brilliant, but really they just happened to be in the industry that received unprecedented benefits from the government and from central bank largesse by being the hot new thing during a debt bubble.
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