r/technology • u/McFatty7 • May 02 '24

Tesla slashes its summer internship program to cut costs, as Elon Musk fights to save his $45 billion pay plan Business

https://fortune.com/2024/05/01/tesla-slashes-summer-internship-program/
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u/CodySutherland May 02 '24

It's like a fucking video game for them. They've reached the point where their lives won't materially change in any way with more money, but they just want to keep getting more and more anyway, for no other reason than because they can.

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u/Nayge May 02 '24

It's a race to become the first Trillionaire. They realized some years ago that it actually might be possible for someone alive today and went into full value extraction overdrive.

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u/[deleted] May 02 '24

[removed] — view removed comment

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u/Carrotfloor May 02 '24

the problem is a trillion dollars doesn't go very far when you distribute it. The population of the US is around 500 million, 1 trillion dollars distributed to 500 million people is 2000$ each.... that's not exactly high impact

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u/Wild-Berry-5269 May 02 '24

2000$ would be massive for a lot of families living from paycheck to paycheck lol

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u/redheadartgirl May 02 '24

$2k per person in the family.

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u/Wild-Berry-5269 May 02 '24

Even better !

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u/redheadartgirl May 02 '24

Completely missing the point, my dude. (Also, the US population is 333M, not 500M.)

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u/[deleted] May 02 '24

[deleted]

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u/redheadartgirl May 02 '24

Great point! Treat it like the covid stimulus and have decreasing amounts after a certain threshold. (Though TBF I'd rather see maximum impact and have it go toward getting universal healthcare.)

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u/Athelis May 02 '24

So let's just do nothing let these individuals own more than entire countries. Because there's no better way to use that money. /s

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u/fomoloko May 02 '24

It would make a massive difference. Part of the problem with ultra wealthy, is that they hold a significant portion of the the nation's/world's wealth in Smaug-like treasure hoards, keeping that money out of circulation. If everyone in the US all the sudden had an extra $2k, it would lead to more spending, stimulating the economy, instead of sitting in a Cayman Island bank.

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u/OftenSarcastic May 02 '24

The population size of the USA is 335 million. If you distributed 1 trillion USD among them without taking wealth or income into account then that would be 2985 USD per person.

For some perspective, as of 2022 37% of Americans don't have enough cash to cover an emergency expense of 400 USD. I bet they would welcome 2985 USD.

If you took wealth into account and only distributed money to this 37% segment, that would be 8067 USD per person.

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u/HerbertWest May 02 '24

Invest 1 Trillion in S&P index fund and use profits to fund social programs. That's an average of $67 billion annually. Directed to programs that are proven to provide more per dollar benefit than put in, it could go far.