Elon Musk hails recession as "good thing"
Date
5/28/2022 6:15:12 PM
(MENAFN) In answer to a follower's comment, Elon Musk, the world's richest man, tweeted that the US recession is a "good thing" since "it has been raining money on fools for too long." He criticized “Covid-19 stay-at-home stuff” for “tricking” people into thinking they could make money without having to “work hard,” suggesting many people were in for a “rude awakening.”
Musk expanded on his views in response to a tweet from another follower, asking for "companies that are inherently negative cash flow (i.e. value destroyers)" to "die, so that they stop consuming resources."
It's unclear whose businesses Musk referred to. Tesla's high market capitalization was established partly on governmental renewables subsidies.
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