Tesla’s billionaire boss said that the domestic economy is in for a “rude awakening.” He also said that working from home has made Americans lazy.
When asked by a Twitter user if he thought there would be a recession, Musk replied: “Yes, but this is actually a good thing. It has been raining money on fools for too long.”
He then added: “Some bankruptcies need to happen. Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard.”“Based on past experience, about 12 to 18 months,” the tech mogul replied. “Companies that are inherently negative cash flow need to die, so that they stop consuming resources.”
Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen. Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!Based on past experience, about 12 to 18 months. Companies that are inherently negative cash flow need to die, so that they stop consuming resources.
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