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Elon Musk calls himself ‘former trillionaire’ as billions vanish amid Tesla, SpaceX crash. Why the rich laugh at losses (finance.yahoo.com)
submitted 3 months ago by to c/usa@midwest.social
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[–] 9 points 3 months ago (3 children)

"Why the rich laugh at losses" I swear, headlines get stupider by the minute.

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  • [–] 3 points 3 months ago* (2 children)

    If you ever had millions in the stock market and seen it go up and down enormous amounts each month, you actually don't care so much. The only thing that matters is where it will be in the future. And Musk definently thinks like that. You have to, otherwise the stock market will ruin you.

    Its competely unavoidable that a stock goes up and down a lot for a company like Tesla.

    That being said, Musk has been nervous before when the stock has halfed in value very quickly. Like anyone would.

    Also keep in mind that this is not money that Musk needs. It can go up and down or whatever, doesn't affect him as long as it's not permanent.

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  • [–] 2 points 3 months ago (1 child)

    I wasn't looking for an explanation here, I will just assume that when someone has a lot of money it hurts less to lose some than when someone has very little money. It's so obvious that I don't really need a stockmarket 101 - a schoolkid could grasp this. Headlines like this pretend someone cares while it's really just a continuation of the bread and circuses game with a bit of ragebait for the lower decks.

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  • [–] 0 points 3 months ago*

    Yeah I would go as far as saying that when you have more than enough money, you just notice your account going up and down but it has no effect on your daily life and your ability to pay your bills.

    If you don't have enough money, any small extra cost can mean you have to make difficult choices right away.

    I guess the headlines are ragebait since so many people don't have enough money these days. It makes sense to get pissed off about reading it.

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