

Frankly, if the company you invested in does not give you dividends, then you are a fucking chump.
That’s just not true. There are plenty of reasons why fast growing/expanding young companies shouldn’t pay dividends, if they have better opportunities to put capital to work (if you disagree with their assessment you sell the stock).
And even in mature companies dividends aren’t always good. Just look at Intel and Berkshire. Intel should have cut the dividend way sooner and is now in a worse spot because they didn’t. Berkshire on the other hand is by all accounts a healthy and well run company. If you want to take profits you just sell some stocks and if Berkshire thinks that price is to low they repurchase some of that stock.
What I find particularly problematic is the conflict of interest between Tesla and xAI, especially because Elon has a higher percentage of ownership of the latter.
It’s clear that Tesla is priced not as a car manufacturer, but as a technology company with high (arguably delusional) hopes towards self driving, compute and robotics. However that kind of seems like a natural area to expand into for xAI as well. So why should Elon do it at Tesla where he has less ownership?
Btw xAI acquired X, so one less company. From what I remember at the time the purchase felt like Elon taking advantage of other investors and getting a very favorable deal for himself due to the company evaluations, which increased his ownership stake in the combined company.