Into the Close: Inside Elon Musk's Latest Expensive Disaster

Plus: Here's a Retirement-Killing Mistake [Money Morning LIVE] Monday, July 17, 2023 Is This Elon Musk's Latest Multi-Billion-Dollar Blunder? By Nick Black --------------------------------------------------------------- Musk is no stranger to the limelight. And his new artificial intelligence (AI) startup, xAI, is no exception. Don't get me wrong, Elon is sharp as a tack, an intellectual powerhouse, and an engineering whiz. But does he understand finance? No, because if he did, he wouldn't have spent $44 billion on Twitter. That's why I'm exceptionally cynical about his foray into AI. Especially with a mission to "understand the future of the universe." Quite the lofty goal for a guy who can [barely run an app](. Then again, this is Elon we're talking about, the guy who wants to colonize Mars. But here's where things get interesting (because his real company isn't): xAI's debut comes hot on the heels of his calling for a complete pause on AI development to avoid, and I quote, "civilization destruction." Seems a bit contradictory considering his new company's sole purpose is to...develop AI. It makes you wonder if all that virtue signaling was just a smokescreen. Was Musk feeling left behind in the AI race? Was he worried about losing ground to OpenAI, a company he built, then abandoned? We may never know. [But here's what we do know...]( --------------------------------------------------------------- The Secret to Better Returns Start Here... When it comes to trading and investing, you must focus on probability. Garrett {NAME} outlines two simple strategies to improve returns by increasing your probability for success, while at the same time reducing your overall cost. [It's a no-brainer for novices or veterans alike.]( --------------------------------------------------------------- "The System is Broken," Says Bureaucrats Who Broke It... When a government tries to do too much, like a jack-of-all-trades, it becomes a master of nothing. With national debt racing toward $53 trillion by 2032 and hundreds of trillions more in unfunded liabilities, don't believe everything is fine. [As we explain here, it's not...]( --------------------------------------------------------------- Does this Record Spell Trouble? In June, inflation rose at 3% - the slowest rate in more than two years. But underneath the surface, a troubling trend is unfolding... Americans are raiding their retirement accounts at a record pace. [Find out what this means for you future and your money...]( Get More Money Morning Our experts offer special actionable investing and trading research to their subscribers every week You are receiving this e-mail at {EMAIL}, as part of your subscription to Money Morning LIVE. To remove your email from this list: [unsubscribe here](. Please do not reply to this email as this address is not monitored. To cancel, or for any other questions or requests, please contact our Customer Service team: Online: [Customer Service Form]( Phone: 888-384-8339 (North America) 443-353-4519 (International) Mail: Money Morning LIVE | Attn: Member Services | 1125 N Charles Street | Baltimore, MD 21201 Fax: 410-622-3050 Our Customer Service team is available Monday - Friday between 9:00 AM and 5:00 PM ET. © 2023 Money Map Press. All Rights Reserved. Nothing in this email should be considered personalized financial advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We allow the editors of our publications to recommend securities that they own themselves. However, our policy prohibits editors from exiting a personal trade while the recommendation to subscribers is open. In no circumstance may an editor sell a security before our subscribers have a fair opportunity to exit. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. All other employees and agents must wait 24 hours after on-line publication prior to following an initial recommendation. Protected by copyright laws of the United States and international treaties. This Newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of: Money Map Press. 1125 N Charles Street, Baltimore, MD 21201. [Website]( | [Privacy Policy]( | [Terms & Conditions]( | [Email Preferences]( [sg_hidden_unsub]