this post was submitted on 11 Feb 2025
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To my knowledge Musk is gambling with his own money, not hedge fund capital or something.
But, yes, this is correct. If you're extremely wealthy then you can keep gambling. If you fail you still have a million other chances. So you're kind of guaranteed to succeed eventually.
Whereas the common person has one chance. If they fail that's it.
Well, he had to get financing from multiple banks to purchase Twitter
Banks and nations. Saudi Arabia was a big contributor. I wonder why a theocratic dictatorship would want influence over a worldwide free speech platform?