Elon Musk Tweeted that he was open to the idea of Twitter buying Silicon Valley Bank on Friday and while we know that we cant exactly bet on a Musk tweet, this man loves to make an impact. And this is a moment people would remember forever.
Treasury Secretary Janet Yellen just informed the public that the federal government will not save SVP.
‘Open to the Idea’
One of the solutions to avoid a disaster scenario and a bailout with taxpayer money would be for a third party to come forward to buy the bank. Elon Musk says he is interested in playing the role of white knight. That’s what he just said on Twitter, when a user floated the idea that Twitter, which he owns, should acquire what was left of Silicon Valley Bank.
This scenario would allow the billionaire to realize his ambition to transform the platform into a mega app called X, which would offer financial and other services.
“I think Twitter should buy SVB and become a digital bank,” the Twitter user said.
“I’m open to the idea,” Musk responded, without providing further details. For example is he in talks with the FDIC?
Musk isn`t the engineering genius that Nikola Tesla was. But he will most likely go down as being more impactful on our society.
With so much of the world looking at climate change as one of the largest challenges in history, where would we be without the electric car?
Because if we can’t electrify transportation, we can’t get anywhere near net zero. Not even close.
Now I know what you’re thinking, Elon didn’t invent the electric car.
But let’s be honest, like really honest the money Tesla burned and raised over and over again as Elon hyped the EV Industry and was mocked by the automotive and fossil fuel industry is the only reason we are anywhere near the big goals politicians throw around about percentages of cars being sold being EVs.
Now we are in 2023 and the economy is in place despite popular belief that it has never really been before. Sure lots of cycles of big inflation that have analysts predicting all sorts of things like they are absolutely sure. But never in history has this much government money been thrown into the economy before the spike in inflation.
So I’m going to say we don’t know where the economy is going.
But then the bank that is pretty much the symbol of the American startup gets shut down by the government as they fail in a public way only outdone by maybe FTX in recent years.
And Musk says he is open to the idea of taking over the bank.
Like him or hate him you have to say other than a bailout is there a better option and is this the path to the digital bank Musk always has dreamed of.