The (real) dead economy theory (opens in new tab)

Vibes and memestocks, all the way down\. If you’d like an essay-formatted version of this post to read or share, here’s a link to it on pluralistic\.net, my surveillance-free, ad-free, tracker-free blog: Here’s a fun fact about Elon Musk: in 2020, his \(nominal\) net worth was $20b, and today it’s $1t \(nominally\)\. But that’s not the fun fact; this is: everything he’s done since 2020 was a flop\. As John Quiggin writes, the pre-2020 Musk was the Musk of Tesla, batteries and Starlink\. The ...