SpaceX owner and Tesla CEO Elon Musk arrives in Berlin in 2020. Many people are puzzled on what a Elon Musk takeover of Twitter would mean for the company and even whether he’ll go through with the deal. AP
SpaceX owner and Tesla CEO Elon Musk arrives in Berlin in 2020. Many people are puzzled on what a Elon Musk takeover of Twitter would mean for the company and even whether he’ll go through with the deal. AP
SpaceX owner and Tesla CEO Elon Musk arrives in Berlin in 2020. Many people are puzzled on what a Elon Musk takeover of Twitter would mean for the company and even whether he’ll go through with the deal. AP
SpaceX owner and Tesla CEO Elon Musk arrives in Berlin in 2020. Many people are puzzled on what a Elon Musk takeover of Twitter would mean for the company and even whether he’ll go through with the de


Call a tow truck, the Muskmobile has broken down


  • English
  • Arabic

May 19, 2022

He reinvented the electric car, wants to make humankind an interplanetary species and has festooned Earth’s orbit with revolutionary new satellite technology.

There is no question that Elon Musk is exceedingly smart.

Yet, on Wednesday, the rocket scientist savant did something that — at least to me, a decidedly non-savant journalist — seems to me to be a head-scratcher: he declared war on a good chunk of his customer base.

Tesla’s pricey stocks have been crashing back to Earth for months now, having lost more than 40 per cent of their value since the start of the year.

The markets in general have been bleeding red for weeks, but Tesla’s slide has more than doubled the S&P 500’s 18 per cent collapse.

Amid this haemorrhaging, Mr Musk decided that now would be a great time to alienate the very consumer base that propped his company up through its troubled early days, namely liberals.

The Democrats, he said in a tweet, have become “the party of division and hate, so I can no longer support them and will vote Republican”.

Setting aside, for the moment, the irony of the tweet, his declaration is hardly a surprise.

Mr Musk has for months vented a growing frustration with progressive politicians, cementing a sharp turn to the right he began by leaving California and establishing Tesla’s new home in Texas.

But the bitterness in his tweet and follow-up remarks signal a new level of fury for Mr Musk, who attacked “phoney social justice warriors” and the “leftist agenda”.

It’s not clear what prompted Mr Musk’s outburst. Tesla has closed its public relations department so there can be no asking.

Perhaps the immediate catalyst was the widely followed S&P 500 ESG Index ejecting Tesla over issues including claims of racial discrimination in its Fremont, California factory and crashes linked to its autopilot vehicles.

Mr Musk responded with angry tweets, including one saying "ESG is a scam".

But Mr Musk has also grown increasingly vocal about what he sees as a shadowy bias in Twitter’s algorithms to promote left-leaning views and silence conservatives.

It’s a claim that has been refuted by various studies. An internal Twitter study even found that it amplifies right-wing tweets more than it does liberal content.

Mr Musk has said he would invite former president Donald Trump (who pre-emptively declined) back to Twitter if his takeover of the platform is completed.

Mr Trump was banned for glorifying violence in the wake of the January 6 insurrection that saw his supporters trying to overturn the 2020 election results.

He lost $12 billion on Wednesday alone and his net worth has slid $49bn since he launched his bid for Twitter in April.

The market crash has made much of Mr Musk’s losses inevitable and he is still the world’s richest man.

Mr Musk’s electric dream for the world’s automobiles was driven in large part by a devoted base of early adopters, many of them in California and other liberal parts of America.

Following Wednesday’s tweet, the click-click of prospective Tesla buyers cancelling their orders en masse would surely have been audible to any Musk monkeys with hearing-enhanced brain implants.

For a party that has long opposed climate change legislation, it is hard to envision a sudden upswell of Republican support for the Cybertruck, whenever that eventually becomes available.

Instead of focusing on running Tesla and strengthening its fundamentals, Mr Musk has become increasingly erratic and enmeshed in America’s unending culture war, and his tweets do nothing to assuage the “division and hate” he is purportedly upset about.

The irony in his tweets is impossible to ignore. The Republican Party has gone from tepid criticism of the January 6 attack to a full-throated endorsement of Mr Trump’s claims the election was stolen.

Call these assertions “lies,” as The Associated Press does, or merely “baseless claims,” two thirds of Republicans still believe President Joe Biden was helped into office by voter fraud. That has weakened America.

Another irony: the same man who wants to seize control of Twitter over its perceived political bias is using the platform to declare his own political bias.

Time usually proves me wrong. But from where I sit now, it is hard to see an upside to Mr Musk’s tweets. It might be time for him to call a tow truck to help pull him – and Tesla – out of the ditch.

What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

Infobox

Western Region Asia Cup Qualifier, Al Amerat, Oman

The two finalists advance to the next stage of qualifying, in Malaysia in August

Results

UAE beat Iran by 10 wickets

Kuwait beat Saudi Arabia by eight wickets

Oman beat Bahrain by nine wickets

Qatar beat Maldives by 106 runs

Monday fixtures

UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain

Brief scoreline:

Al Wahda 2

Al Menhali 27', Tagliabue 79'

Al Nassr 3

Hamdallah 41', Giuliano 45 1', 62'

Meydan card

6.30pm: Al Maktoum Challenge Round-1 (PA) Group 1 US$65,000 (Dirt) 1,600m
7.05pm: Conditions (TB) $100,000 (Turf) 1,400m
7.40pm: UAE 2000 Guineas Trial (TB) $100,000 (D) 1,600m
8.15pm: Handicap (TB) $175,000 (T) 1,200m
8.50pm: Al Maktoum Challenge Round-1 (TB) Group 2 $350,000 (D) 1,600m
9.25pm: Handicap (TB) $175,000 (D) 1,900m
10pm: Handicap (TB) $135,000 (T) 1,600m

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Updated: May 19, 2022, 5:26 AM