I’m not that smart, but if I were, I would be thinking this is an extended way to move the losses from the Twitter purchase on to the public markets.
[1] https://www.axios.com/2023/12/31/elon-musks-x-fidelity-valua...
[2] https://www.reuters.com/markets/deals/musks-xai-buys-social-...
[3] https://www.cnbc.com/amp/2026/02/02/elon-musk-spacex-xai-ipo...
Obviously advertisers have not been fans. And it is a dying business. But rather than it dying, Elon has found a clever (and probably illegal) way to make it so that SpaceX, which has national security importance, is going to prop up Twitter/X. Now our taxpayer dollars are paying for this outrageous social network to exist.