A Winner Every Time!

The fall of Elon Musk is due to the fallacy that he was successful at making money, so he must be smart, and know what he’s doing.

After all, the market is a great, green god, and it only rewards the justly deserving.

But the crown jewel of his failures is Doge itself," Magee argues. "Once hailed by Trump as the answer to government waste, the department has fallen into disarray. Mass resignations, mounting lawsuits and financial blunders have turned Doge into a bureaucratic circus that undermines the President. As it lurches further into dysfunction, Musk’s carefully crafted image as a shrewd businessman is crumbling."

Frankly, it was bound to happen. Musk was never shrewd nor a businessman. He was run out of PayPal before he ran it into the ground. He took the money he made there and hyped Tesla into a car company, selling it as Apple on wheels. It wasn’t, and isn’t, and Elmo is neither Steve Jobs nor Bill Gates. Running Twitter into the ground proved he’s not Zuckerberg, either. Tesla was never more than a meme stock, but con men proliferate because the marks never acknowledge that they are marks. Their faith is in the market, which they always think, like players at a slot machine, will pay off if they just keep pulling the lever.

But the market doesn’t reward anybody, any more than the weather rewards farmers. But as long as we keep thinking it does….