Elon Musk can be wildly successful in government — or flame out
- by Atlanta Journal-Constitution
- Dec 23, 2024
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It took only a microburst of 41 under-informed posts on X in a relatively short period of time from a government newbie to grind the wheels of progress to a halt. Muskâs ill-timed entry into the legislative process had hints of Cousin Eddieâs awkward confidence around the Christmas dinner table in the 1989 hit âNational Lampoonâs Christmas Vacation.â
For those who missed it, hereâs a recap: An imperfect but mutually agreed upon bipartisan spending bill blessed by President-elect Donald Trump was torpedoed by Musk in what can be only explained as a test flight of his newfound political power. Bull, meet China shop. Eventually, a last-minute compromise avoided a government shutdown, but not without undue drama.
Other recent examples of Muskâs heavy public hand have shown up on the X test range in the form of attempting to influence Cabinet picks, energy policy and artificial intelligence industry guardrails, to name just a few.
So the multibillion-dollar question is, what was Muskâs real motivation for buying Twitter (which he renamed X), business or personal? His creditors and investors are hoping it was for business, but itâs becoming apparent that it might have been personal, too. Itâs hard to make a business case for one of the worldâs largest social media platforms intentionally augmenting reality by sharing its ownerâs latest and greatest personal and half-baked thoughts on the modern-day front page above the proverbial fold 24/7.
Itâs estimated that X has lost an eye-popping 80% of its total value since Musk took the company private. This cratering valuation doesnât seem to bother Musk as much as it does the investment bankers still on the hook for the extra cash needed to close the deal.
If you remove the investment banker opinions from the conversation, the Twitter acquisition has been wildly successful for Musk by most modern standards. His followers on the platform have swelled to nearly 210 million since the acquisition, and he has undeniably become one of the most powerful influencers in the galaxy on virtually every contemporary subject, literally. Most impressive, he had to put up only an estimated 10% of his net worth to consummate the transaction. You would be hard pressed to find someone not willing to make the same low-risk, high-return investment every day of the week and twice on Sunday.
Musk has quickly made up for lost time operating inside the political ecosystem. This time last year, the world was still trying to figure out whether he was a Democrat or a Republican. It didnât even seem likely he would lend his support to a specific candidate. Fast forward a few months, and his critics describe him as âPresident Musk.â Even artificial intelligence couldnât have predicted the absolute strength of his grip on the political process and his virtual board of directors seat with the incoming president.
So now what? That will depend on where Musk wants to aim his new toy: political power. The jury is still out if Musk is riding an epic wave or a Trojan horse. My prediction is that if he focuses on DOGEâs efforts, he will be highly successful and well revered. Alternatively, if he aims at shock-jock style politics for personal pleasure, he will break a lot of glass, and his political flame will quickly be extinguished â by Trump.
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