Summary
Elon Musk announced that his AI startup xAI has merged with his social media platform X in an all-stock deal, valuing xAI at $80 billion and X at $33 billion.
Musk stated the merger will combine AI expertise with X’s broad reach.
xAI, launched less than two years ago, competes with OpenAI and has developed the Grok chatbot, integrated with X.
This reminds me of when Kmart bought Sears.
At least neither Kmart nor Sears were Nazi hangouts.
Well, Sears went under because the CEO was a True Believer in the Libertarian/Atlas Shrugged/Starve The Beast method of running a business. He genuinely thought that making stores and even individual departments fight for ever reducing funding was going to make them better. What he learned is that when people have their livelihood at stake, they fight dirty and lie.
When Sears finally closed forever, he said he regretted it. Probably not as much as the people whose lives he ruined.