Electric cars myth: when everyone buys an electric car, there isn't enough electricity to charge them all

submitted by Hoomsns from (youtu.be)

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[–]Tums_is_Smut_bkwrds 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

Bitcoins are a ponzi scheme. Tesla, and Musk, is capitalism.

If you buy a Tesla you're at least getting the use of a car, and it's a pretty cool car at that. Whether the high price is justified and the fact that you don't fully own the thing is proper is besides the point exactly because you're driving one of the coolest toys money can buy.

And if you think that Telsa is a scam then what about the many many financial institutions that do absolutely nothing to generate wealth yet turn (often) high profits? I'm not saying it's right or wrong, but I am saying that participation is voluntary and what is more it (capitalism) is vastly superior to all of the alternatives.

[–]Hoomsns[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

I made a claim about a Ponzi scheme and you began mixing apples and oranges..

He has issued way more stock than he will ever be able to buy back.. he keeps selling more and more and more...

The stockholders will be stuck holding worthless shares, eventually.. it might be a minute, but it will happen.

[–]Tums_is_Smut_bkwrds 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Well if you're going to call the stock market a ponzi scheme then I can call bitcoin one as well. In actuality neither are.

If Tesla fails it will be the result of mis-management or some other factor that results in loss in confidence in the corporation and a resulting devaluation of the share price. Companies routinely have more shares than they can buy back BECAUSE THE MARKET SETS THE VALUE. This is the essence of the so-called free market.

And if I'm starting to sound like a pompous twat it's because I'm several beers in and drinking does that to me. Anyhow I think we're done here.

[–]Hoomsns[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Companies routinely have more shares than they can buy back BECAUSE THE MARKET SETS THE VALUE

I do believe that this is a defective assumption on your part.

And no, the company that issues the shares decides what the initial face or par value is.

Stocks are not my focus, but I think that I am correct.