Elon Musk is being sued for $258 billion for his dogecoin pyramid scheme

Elon Musk is starved for attention. It’s crazy that there’s a man with the personality of a Bravo reality star stuck in the body of a middle-aged MAGA-adjacent pseudo-billionaire. I’ll try to summarize just *some* of the sh-t Musk has gotten into this week and keep in mind, this is by no means a complete list.

Musk proclaims support for Ron DeSantis. DeSantis is the governor of Florida and a full-on MAGA authoritarian who has tried to out-Trump the original Trump. Apparently, that is exactly what Musk likes about DeSantis, and Musk plans to support DeSantis for president in 2024. DeSantis, in turn, called Musk an “African-American.”

Musk was just sued for $258 billion. This lawsuit is about Musk’s work on the pyramid scheme to support and promote the dogecoin cryptocurrency. One investor believes the scheme rises to the level of racketeering.

Musk did a town hall with Twitter employees. He both-sides’d politics claiming that his goal was pissing off Nazis and liberals constantly. He told the employees that he prefers in-person work. He also thinks Twitter users should be able to say and do whatever they want and that violent, racist or bigoted content shouldn’t be blocked or banned. Many Twitter employees found him “incoherent.”

Space-X employees hate their boss. A group of Space-X employees wrote a letter decrying Musk’s behavior as “a frequent source of distraction and embarrassment for us, particularly in recent weeks.” They want him to settle down and be less distracted and crude, at least in public.

Yeah… no one knows if the Twitter deal is actually going through and even Musk didn’t seem all that interested in actually taking over the company in any way. It actually feels like there’s been a shift around Musk over the past month. Like, people are really tired of his sh-t? Even his fan boys are kind of mad at him because they’ve lost so much money in the cryptocurrencies he promoted.

Photos courtesy of Avalon Red.

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37 Responses to “Elon Musk is being sued for $258 billion for his dogecoin pyramid scheme”

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  1. Solidgold says:

    He is such a creepy man in looks and personality.

    • Jan90067 says:

      Honestly, every time I see that toad face I expect a split tongue to fork out and snatch a fly. He is SO repulsive in EVERY way.

      • RL says:

        Honestly, this is the best description I’ve seen of him. Ewwwwwww.

      • BothSidesNow says:

        @ Jan90067, I must agree with RL. This is the epitome of Musk and his eeewwwwww factor neatly rolled into a toad.

    • whatWHAT? says:

      I can’t remember who suggested it, but I agree.

      This site should use his pre-hair implant pics in EVERY post.

  2. Noki says:

    Does he not have as much money as they say,who even verifies these things!?

    • Wiglet Watcher says:

      It’s just an evaluation to the name/brand association.

      What’s interesting is how little he actually contributes to companies success. His value decreases with every tantrum for attention.

      And his funds are mostly locked away in investments or collateral.
      People are saying bitcoin will drop a few more thousand before it goes up.

      • Shoshone says:

        Bitcoin is the best regarded crypto currency and will probably come back up but Elon promotes DodgeCoin which is different and has always appeared to be riskier ( if that is possible). Several of the crypto currencies are not going to make it through this downturn and a lot of regular working people are going to lose some or all of their investment.

    • Colby says:

      His wealth is mostly in Tesla stock, which is objectively quantifiable. He has X shares a $Y per share. But as he is discovering with this Twitter deal, stock does not equal cash on hand lol

  3. RoSco says:

    About three years ago, there was a guy I had to work with extensively on a team of five people 3x a year (for a full week each time). He seemed nice at first but was a total Musk fan “because he thinks outside of the box.” The guy ended up being a douche and the only teammate that I have no desire to ever speak to again (I keep in touch with three). I don’t actively wish him ill but I sure do wonder how his portfolio is doing!

  4. Colby says:

    I’ve heard a lot of people defend crypto as a legit technology – I’m by no means an expert, but by my understanding, those people confuse blockchain with crypto currency. The blockchain *is* a legit technology…that people run crypto pyramid schemes on. I think it’s important to call out the difference because scammers hide behind the legitimacy of blockchain.

    • Wiglet Watcher says:

      Crypto can be a legit currency for some. For most it’s just a buy low, sell high activity. That’s why it really has to be monitored too closely and too frequently to be daily, popular currency.

      • Another Anna says:

        Crypto cannot be a currency at all. It fails to meet most of the markers of a currency. It’s not stable, it’s not divisible, and under the US federal tax code it’s actually treated the same as you would treat shares of stock. It’s a speculative unsecured asset. This is no different from the free banking era in the 1800s when banks were allowed to print their own money. Not shockingly banks wanted to print money because it was highly profitable but they would go out of business regularly and all of the money instantly became worthless paper.

        There is a reason that the US forbids private parties from minting money. It’s because it ends in chaos when there are no barriers to entry and no regulation. One of the most common arguments I hear is that USD is just made up too and there’s no inherent value there. But that ignores that the inherent value is the full faith and credit of the United States. The reason USD has become a preferred currency around the world is specifically because it is backed by the US government, which was widely seen as very stable.

        There are a lot of problems with our financial system, but crypto isn’t actually solving any of them and in fact it’s making some of the problems much worse.

      • Yasmine says:

        Honestly it can’t be legitimate currency. This Jacobin article about how cryptocurrency is a giant Ponzi scheme explains it pretty well. https://jacobin.com/2022/01/cryptocurrency-scam-blockchain-bitcoin-economy-decentralization

      • Mumzy says:

        @ Yasmine—Thanks for the info and for providing the link!

    • Yasmine says:

      Hmmm I wouldn’t say blockchain is completely legitimate. I totally get what you’re saying in that the technology of using a network to share information isn’t necessarily a scam. BUT the whole reason blockchain was created in 2008 was for digital currency like bitcoin. Blockchain technology promises to revolutionize how we share medical records and make banks obsolete. But it’s all fraudulent claims and that’s why I wouldn’t call it legitimate.

      Technically, a company could use blockchain at a localized level only, where they use a peer2peer network inside their company and only ever use it to share information on transactions internally. In this case, sure, they’re not scamming anybody. But that’s not why blockchain is predominantly used and developed. You can’t separate a technology from the people and how its used. So I’d be careful about saying it’s legitimate, because we still need to push back on the tech itself and how it’s used.

      This is particularly important with blockchain because it requires an immense amount of energy to run its servers, sometimes it’s the energy consumption of entire cities. We simply don’t have the energy systems to run blockchains at its current scale. The UN Environment Programme has been trying to push states to regulate policies around energy/electricity for blockchain technology because it’s such a significant contributor to the climate crisis.

  5. Shoshone says:

    The picture with his mom kinda reminds me of the penguin villain in one of the Batman movies. Not his best look. In case you are unfamiliar the penguin character was portrayed by an amazing ( and very enthusiastic) Danny DeVito.

    I too wish Elon would dial it down about 10 notches because I am rural and depend on StarLink for reasonable internet so that I can have a personal and professional life. I do not want to see Elon crash and burn.

  6. Nuks says:

    I really don’t think I can stomach another election with T running with access to Twitter…

    Re: crypto, if you haven’t watched “The Line Goes Up” by Dan Olson at Folding Ideas, check it out: https://youtu.be/6YFnhZHWIAA. It’s 2.5 hrs, and needs to be, to explain the scam of crypto and nfts.

  7. Marla Singer says:

    😂😂 crash and burn dude ! Couldn’t of happened to a more deserving person

  8. Lightpurple says:

    He has been openly supporting a piece of utter garbage on Twitter who calls herself Libsoftiktok. She openly harasses and ridicules members of the LGBTQ community and encourages her minions to attack them. She insists that all members of the LGBTQ community are pedophiles and must be stopped and Musk constantly praises her.

  9. Aitana says:

    Every day that goes by more is revealed abt this pig. Even though I don’t like him, I do think he has some good intentions @ times, but bcz he’s a misogynistic douche, the majority that’s revealed is the sum of who he is, & most of which is not really good. The latest Met photos are a great mine for unflattering photos. He looks like a portly stuffed duck & his haughty facial expressions are….bizarre.

    • WiththeAmerican says:

      When do you think he’s had good intentions? I’m legit asking because I don’t see it. His companies have long history of racism and sexual harassment and assault, he himself accused of sexual assault by employee, his company sucks off government money, what is it about him that signals good intentions?

      • whatWHAT? says:

        the ONLY “good-intentioned” thing I can remember him doing is offering to rescue those soccer-player kids who got trapped in a cave.

        and I also remember that, when he was told “thanks but no thanks we don’t need your help” he got all whiny and abusive and called the actual rescuers, WHO KNEW WHAT THEY WERE DOING, “pedophiles”. it’s like, the fascist word used to insult people you disagree with. dude is a waste of space and pretty useless. it’s not like HE’S a tech guru…just an investor. and not self made either, like so many think.

    • elle says:

      “portly stuffed duck” – HAHAHAHAHA! Chef’s kiss…

  10. hmmm says:

    Honestly, it feels like he’s having a slo-mo psychiatric breakdown. I’ve followed him for a while, and the last year feels different in a weird, over-exagerrated way, even for him. Makes me think a bit of Kanye and his manic episodes.

  11. kayfree says:

    After the weird drama with Azealia Banks and the article from his ex-wife, I figured he was trash. Strange to say, but Azealia really lifted the lid on his drug issues and abusive nature back in 2018.

  12. girl_ninja says:

    He does look like a frog doesn’t he? Frog-man, the evil villain who wants to turn all humans into frogs and toads.

  13. The Recluse says:

    Musk fired the Space-X employees who spoke out. It was in WAPO today.

  14. jferber says:

    I hope he loses all his money and moves back to South Africa. We don’t want him anymore.

  15. Sera Quill says:

    I’m not a violent person by nature, but his lips and lower face reminds me so much of my very abusive narcissistic ex, that I just want to f*cking punch him. So much.

  16. Peanut Butter says:

    Smug bastard

  17. Bounce says:

    The Met Gala pic reminds me of paintings of old white colonizers of Jamaica

  18. why says:

    he probably doesnt want to continue with buying twt but the break out deal penalty is huge so he is stalling