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Wealthy Chinese investors are discreetly channeling tens of millions into Elon Musk's private companies, including SpaceX, xAI, and Neuralink, through special-purpose vehicles that obscure their identities. This trend arises amid strained US-China relations and Beijing's capital controls, with asset managers promoting these investments as lucrative opportunities despite the risks involved. The influx of Chinese capital is primarily profit-driven, reflecting a search for high-quality projects abroad as domestic economic conditions remain challenging.
Negotiations in California's infrastructure projects, influenced by decades of liberal policies, have led to significant delays and costs, exemplified by the high-speed rail system and the Second Avenue subway. Despite the state's severe housing crisis, reforms to expedite construction remain absent, while the political landscape fosters scarcity in housing and public goods. The Democratic Party's failure to make government effective contrasts sharply with the Republican Party's approach, which capitalizes on scarcity rather than addressing it.
Elon Musk has accused Democratic donors, including George Soros and Reid Hoffman, of funding protests against Tesla, claiming that five groups linked to ActBlue are behind the demonstrations. Protests have surged at over 50 Tesla locations in the U.S. and internationally, with slogans criticizing Musk. An investigation into ActBlue has raised concerns about illegal donations, prompting policy updates to reject contributions from high-risk sources.
In a comedic skit on Saturday Night Live, Donald Trump, portrayed by James Austin Johnson, attempts to mediate a dispute between Elon Musk and Marco Rubio while delivering playful insults to both. Trump praises Rubio's performance as Secretary of State but humorously labels him a "scapegoat," while Musk's inner thoughts reveal his concerns about public perception and financial losses. The meeting concludes with Trump advising both to act maturely, emphasizing the need for Rubio to manage the budget and Musk to stay in his lane, despite Musk's hefty financial contribution to Trump.
In a comedic "SNL" cold open, Mike Myers reprised his role as Elon Musk during a chaotic Oval Office meeting with Donald Trump and Marco Rubio. The sketch humorously depicted Trump's attempts to mediate tensions between Musk and Rubio, highlighting absurd political dynamics and Musk's internal struggles amid a crashing stock and dwindling net worth. The meeting culminated in Trump establishing rules to manage the conflict while acknowledging Musk's financial influence over his administration.
Colin Jost targeted Elon Musk during the latest "Weekend Update" on SNL, humorously dubbing him "White Kanye" and commenting on his attire at a cabinet meeting. Michael Che also took jabs at Musk, referencing the explosion of SpaceX's Starship and making light of President Trump's recent controversial statements. The segment included jokes about international relations and sports, showcasing the show's signature satirical style.
Tesla is facing significant protests and vandalism as its CEO, Elon Musk, takes on a role in the federal government under President Trump. The backlash includes aggressive actions, with reports of Molotov cocktails being thrown at vehicles associated with the company.
Elon Musk will be questioned under oath on April 3 in Washington, DC, regarding an investor lawsuit tied to his fluctuating decision to acquire Twitter in 2022. Investors allege that his actions harmed Twitter's stock price and benefited his position in the $44 billion deal. Musk initially attempted to back out, citing management issues, but completed the purchase after legal challenges. A federal judge has denied his request to dismiss the lawsuit, asserting that his statements misled investors. Additionally, the Securities and Exchange Commission (SEC) has sued Musk for failing to timely disclose his increasing stake in Twitter, which allegedly cost other shareholders over $150 million.
Tesla's stock has entered a seven-week decline, closing at $270.48 on March 7, marking its lowest point since November 5, with a market cap drop of over $800 billion since December. Factors contributing to this slump include weaker sales, increased competition in China, and production issues with the Model Y. Despite the downturn, some analysts remain optimistic, with price targets as high as $550.
Growing discontent within the Republican camp is emerging over Elon Musk's job cuts, which have contributed to a rise in the unemployment rate to 4.1%. In February, only 151,000 jobs were created, falling short of expectations, while federal job cuts have led to significant layoffs in the civil service. Treasury Secretary Scott Bessent warns of a necessary adjustment as the economy shifts from public to private spending, amid increasing uncertainty for government subcontractors facing contract cancellations.
Elon Musk
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