Elon Musk is providing the beneficiant alternative to spend money on Twitter at $54.20

Lately, I’ve been pondering so much about that point when Elon Musk purchased a McLaren F1 for $1 million after which instantly drove it right into a ditch whereas attempting to point out off to Peter Thiel. “You know, I had read all those stories about people who made money and bought sports cars and crashed them,” Musk mentioned to Thiel, in keeping with Max Chafkin’s The Contrarian. “But I knew it could never happen to me, so I didn’t get any insurance.”

No? Okay, possibly this may ring a bell: Tesla’s third quarter earnings name, do not forget that? The one the place Musk mentioned he and different traders have been “obviously overpaying for Twitter right now?” He’s, um, searching for extra traders to overpay, I suppose.

Tesla investor Ross Gerber is on the document within the Semafor story, saying he was contacted yesterday about one other funding spherical — he’d already dropped some nonzero however lower than $1 million quantity on Twitter. Gerber, you’ll be happy to know, is contemplating this beneficiant provide to place extra money into an asset the proprietor has himself mentioned is overpriced. “One could argue he has created value or destroyed value at Twitter,” Gerber advised Semafor. “It’s hard to tell at this point.”

Asking traders to pay full value for an asset whose worth is quickly collapsing goes to be a tricky promote. Musk might have concepts that may save Twitter and clear up social media, however he’s working out of runway to do it.

I’m so glad Semafor’s signature method has damaged that out particularly so I can ponder it. Let me do my very own model.

Man, look, after the debacle on Twitter Spaces final evening, can we please cease pretending that that is something however flailing? He’s crashed the McLaren, and there’s no insurance coverage.

Some of you folks simply aren’t prepared for regular rate of interest environments.

Correction 6:03PM ET: Musk has been offloading Tesla shares, not Twitter shares. We remorse the error.