I’m not sure if Elon understands it. I haven’t seen any evidence of that.

PayPal was founded by Peter Thiel and all the videos I’ve seen of Musk from that time, as well as all the accounts of people who worked with him, depict him more as a problem child who helped with financing. It wasn’t even called PayPal when Musk was a part of it, and much of his success during that period was him failing upwards during a massive .com bubble (in my opinion).

Massive wealth outliers like Musk in a fiat world benefit a ton from their circumstances. Musk ran good enough grift companies to succeed massively in two bubbles, being the .com bubble and the electric vehicle bubble. The majority of his wealth comes from successfully rolling over money from the first bubble into the second one.

He has made many common shitcoiner mistakes, like believing block times and throughput changes are “innovative changes which can scale blockchains”. His whole life is full of grifter moments.

To me, Musk is a shitcoiner who succeeded in fiat grifting before real shitcoins even existed. He is not some kind of economic guru who is playing 4D chess with all of us and trying to keep people from understanding the true nature of our money. He just needs to grift hard enough to pump up a company by riding trends and influencing government policy, sell shares at the top, and then roll over the proceeds into another company and repeat the cycle.

X.com ➡️ Tesla ➡️ Twitter