So much of Boomer wealth and prosperity is predicated on a shift in system-wide leverage for Govt, Housing, Education, Consumption, etc. and being on the front edge of that change while advocating for moar b/c muh feelings or promoting naive policy which effectively pulls the ladder up behind them.
This is why generational tracks of wealth, relative incomes, etc., are so bad. This is where the "Al Bundy bought this house as a shoe salesman" memes come from.
Not only did this generation create two of the largest financial bubbles in history, they then hung around bailing themselves out setting back every generation behind them post GFC.
That house they bought for 1.5x median income that goes for 6x current median income - they're just super smart and responsible, they're entitled to that wealth. Obvious to the reality.
Don't you dare touch muh entitlement programs, I paid for those! No, you didn't, you're collectively taking far more outright than you put in, more so than any generation ever has or ever will. And, you constantly vote to saddle future generations with the burden of your selfish idealism. Yet another transfer of wealth from future generations to the boomers.
This is why they won't accept term limits in govt. Any reasonable assembly of Gen X, Millennial and Gen Z would begin to fix these problems to the detriment of the biggest leach generation in history.
Don't get me started on the rampant entitlement when it comes to investment returns - they haven't been getting more conservative into retirement as a whole, they didn't learn anything from 2008, they've been getting more aggressive chasing their almighty SPY after rigging the system yet again with the unintentional / indirect hopes of extracting yet more value from a system they've led to the brink.
@waitbutwhy I never realized till this moment how stupid Tucker Carlson was. At first I thought he was acting, to curry favor with the religious right, but I gradually realized that he actually believes what he's saying.
Tesla moving company registration to Texas is shortsighted and reactionary.
Social media fanboys are tripping over each other to support the move.
Texas has no dedicated courts for business disputes.
It has no history of commercial disputes to use as legal precedent.
There is an annual 0.75% tax on company revenue. This tax would have cost $TSLA $500 Million in 2023 instead of $200k in Delaware.
There is precisely zero upside to shareholders.
If Tesla has complex legal cases on IP or commercial wrangling in the future, this reactionary decision will come back to bite shareholders in the backside.
I understand Elon Musk is pissed off about losing 1/4 of his net worth.
But It would be really dumb to throw the baby out with the bath water.
Elon Musk owned over 28% of Tesla stock at IPO.
The only reason he does not own 25% now is because the company stock has been diluted and he has sold his shares over time to fund other projects.
I am a big fan of Elon Muskโs achievements at Tesla and I am a long-term shareholder.
The Delaware court decision stinks and will be appealed.
But I do not subscribe to making ill-informed self defeating moves that will be detrimental to the company in the long term.
If Tesla shares increase in value several fold, Elon Musk stands to gain 100s of billions of dollars from his existing holding (and the options he will get back via appeal or a replacement package).
Why does this reward have to be amplified even further at the expense of every other shareholder?
I am a Tesla shareholder, but I do not hold a commercial interest in X or SpaceX or any other of Muskโs business interests that were funded by virtue of Tesla being a publicly traded company and Elon Musk selling stock that he now says he doesnโt have enough of.
At a shareholder meeting 2-3 years ago, Elon Musk said that multiple new factory announcements would be made in the following 6 months.
Only one came much later and ground has still not been broken.
The slowdown in 2024-2025 was easy to predict if Tesla did not continue to invest in growth.
Even a random guy on YouTube was saying it at the time.
But we are in a position where further progress is apparently dependent on shareholders being significantly diluted.
And now, we are focused on a pointless registration move to Texas instead of addressing actually important things that will actually add shareholder value.