Musk’s $50 Billion Pay Package Is The Ultimate Proof That Capitalism Has Completely Lost Its Mind
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It all started with an article from an engineer on Twitter, ten days ago.
Ashok Elluswamy wrote a long form piece extolling the virtues of the world’s wealthiest man and the work that he had done in embedding artificial intelligence to Tesla.
Industry insiders knew that Elluswamy’s post had a purpose: to sway shareholders ahead of the imminent vote on Elon Musk’s proposal.
And this view was duly confirmed only a few days ago when Tesla shareholders voted to reward the already over remunerated South African, with more money than God.
But we must ask how we got here?
Between 2008 and 2024, the Federal Reserves printed 7.3 trillion dollars, out of thin air in a policy which became known as Quantitative Easing.
The philosophical term, Moral Hazard, allowed Wall Street and the City of London to gamble with our lives, safe in the knowledge that there would be absolutely no consequences, when things went awry.