Elon Musk: Always A Douche

[Admiral Yi]

It means that they thought that the value of Red Lobster + the value of their exclusive supply contracts was positive.  The former could be negative if the latter was positive enough.

It's hard to say further without knowing how much Thai Union paid for the 51% stake in 2020.

Since we know that Golden Gate paid 2.1 billion and cashed the land for 1.5 and financed the deal with somewhere in the neighborhood of 300 million, if Thai Union paid less 300 million, Golden Gate lost money on the deal.

[The Minsky Moment]

It means that they thought that the value of Red Lobster + the value of their exclusive supply contracts was positive.  The former could be negative if the latter was positive enough.

It's hard to say further without knowing how much Thai Union paid for the 51% stake in 2020.

Since we know that Golden Gate paid 2.1 billion and cashed the land for 1.5 and financed the deal with somewhere in the neighborhood of 300 million, if Thai Union paid less 300 million, Golden Gate lost money on the deal.

Thai Union paid 575M in 2016 for 49%.  https://www.thaiunion.com/en/newsroom/press-release/375/thai-union-to-make-strategic-investment-in-red-lobster-the-worlds-largest-seafood-restaurant

They bought the rest in the 2020 deal.  So GG definitely profited on the deal, and likely had made back the investment in full by 2016.

[Admiral Yi]

WSJ story on Red Lobster.

[garbon]

https://www.bbc.co.uk/news/articles/c1vd097z7rvo

Musk to move SpaceX and X HQ over gender-identity law

preventing politicians and school staff from inappropriately intervening in family matters and attempting to control if, when, and how families have deeply personal conversations," Brandon Richards told the Associated Press.

States have historically competed aggressively to woo companies to establish headquarters, bringing with them high-paying corporate jobs.

Mr Musk himself is already a resident of Texas, which has no income tax.

SpaceX, which employs more than 5,000 people in California, according to state records, also already has a large base of operations in the state.

In response to Mr Musk's pledge, Greg Abbott, governor for Texas, said: "This cements Texas as the leader in space exploration."

Neither SpaceX nor X responded to requests for comment about whether the decision to move headquarters would lead to job cuts in California

[Syt]

Will the state be renamed to X-as?

[Valmy]

I just want to point out San Francisco really only got worse with the development of Silicon Valley. He is going to come ruin Austin now.

All the tech money really seems to do is raise property values ruin regular people's lives.

[Josquius]

I just want to point out San Francisco really only got worse with the development of Silicon Valley. He is going to come ruin Austin now.

All the tech money really seems to do is raise property values ruin regular people's lives.

Quite different cities though right?
SF with very constrained geography and Austin out on an open plain (I think?) and already very sprawly.
Then SF has tight zoning and building regulations whilst Austin is a bit more of a free for all?
A theoretical or shifting over silicon valley ould well make for a Tokyo style libertarian best case... Fingers crossed and all that.
I don't think tesla would have such an impact though.

[Valmy]

Quite different cities though right?
SF with very constrained geography and Austin out on an open plain (I think?) and already very sprawly.

I mean we are on the edge of a plateau surrounded by rivers. But sure you get out there far enough...but San Francisco has the same shit going on with San Jose and so forth.

Then SF has tight zoning and building regulations whilst Austin is a bit more of a free for all?

No. We are not Houston. Houston is the only city in Texas like that. We have the normal sorts of zoning and building regulations that any normal American city would have. Now is San Francisco and that area unusually constrictive? I don't know, but I doubt it.

But in any case housing here is crushingly expensive and only getting worse. A house I bought in 2009 for $160,000 is now worth...*checks* $400,000. My house, which I built for $471,000 in 2018 is now worth...$850,000. I am practically a damn millionaire just living here. So whatever benefits all this sprawl and supposedly lax regulation was bringing us don't seem to be helping at all with the core issue.

A theoretical or shifting over silicon valley ould well make for a Tokyo style libertarian best case... Fingers crossed and all that.
I don't think tesla would have such an impact though.

Libertarian? Texas? Austin? LOL. Ok sure, our state government may be insanely right wing and reactionary but Libertarian it is not. Far from it. Not every right wing person is Thatcher.

[Sheilbh]

I've definitely read that California is more constrictive on zoning and building and San Francisco a particularly extreme case.

[The Minsky Moment]

X is moving to Austin, but Space X is moving to Boca Chica right on the Mexican border.  Latter seems to me a bit of a tough selling point for attracting top engineering and executive talent.

[Valmy]

X is moving to Austin, but Space X is moving to Boca Chica right on the Mexican border.  Latter seems to me a bit of a tough selling point for attracting top engineering and executive talent.

But the border is in a constant state of crisis!!11

[Valmy]

I've definitely read that California is more constrictive on zoning and building and San Francisco a particularly extreme case.

Color me skeptical this is true. California is notorious for its sprawl and car centric cities, no less than Texas. And it is also a huge state and I imagine there are tons of differences between jurisdictions.

San Francisco is constrained geographically so there is that. But that isn't the entire Norcal or Bay Area region.

[Crazy_Ivan80]

X is moving to Austin, but Space X is moving to Boca Chica right on the Mexican border.  Latter seems to me a bit of a tough selling point for attracting top engineering and executive talent.

But the border is in a constant state of crisis!!11

a wall of rockets?

[Baron von Schtinkenbutt]

I've definitely read that California is more constrictive on zoning and building and San Francisco a particularly extreme case.

Color me skeptical this is true. California is notorious for its sprawl and car centric cities, no less than Texas. And it is also a huge state and I imagine there are tons of differences between jurisdictions.

San Francisco is constrained geographically so there is that. But that isn't the entire Norcal or Bay Area region.

The Bay Area, San Francisco in particular, is rife with NIMBYism.  It has widespread problems with housing availability and affordability in large part because people fight densification and transit improvements tooth and nail.

[Sheilbh]

Yeah and on California - there may not be an issue but in the last couple of years they've passed a few bills to try and address the at least perceived constraint. For example, liberalising the rules around in-fill or allowing existing single family homes to be sub-divided, or lifting the requirements around environmental impact assessments for upzoning and developments near mass transit.

Edit: So at the very least there's been lots of very vocal YIMBY campaigns in California and legislators think there's constraints they can lift.