Krugman: Musk, a Human Ponzi Scheme

Paul Krugman argues that Elon Musk operates as a "human Ponzi scheme," maintaining his billionaire status through investor confidence in his promised innovations rather than actual products, most of which (Hyperloop, fully autonomous Tesla taxis, neural implants, Mars colonies) remain unfulfilled. Krugman cites Musk's Twitter/X acquisition as evidence of financial manipulation, noting that after the platform's value collapsed, Musk merged it with his underperforming AI company xAI, which is now being rolled into SpaceX for its IPO to artificially boost valuations. The columnist contends that Musk's true skill lies in financial engineering and leveraging political influence rather than developing viable futuristic products.