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understand something about risk that everyone else doesn’t
Ah yes understanding that you are immune to risk because you are astronomically loaded
Funnily enough there is a real business lesson in this behavior. It’s called the asymmetry of opportunity. Sadly this entails the realization that those with endless opportunity always win.
It’s also just a basic gambling strategy.
https://en.wikipedia.org/wiki/Martingale_(betting_system)
“The strategy is certain to make money for the gambler [if they have infinite wealth and aren’t so stupid they try to use it on a game like poker instead of pure chance based games]”
It also doesn’t work in real life not only because nobody has infinite wealth but because casinos have limits for this exact kinda BS
He took risks making a company in the 90s that was eventually bought by Peter Thiel. Nevermind that he had apartheid emerald mine slave money rich parents that could just cover the cost of his failures.
There’s being rich and then there’s being wealthy. Being wealthy means you can fuck up everyday and still be rich.
Exactly. There’s rich people that’d be nearly doomed if they made a big enough fuck up. For the wealthy, there almost isn’t a big enough fuck up to make. Even buying Twitter and running it into the ground, he’s still the richest man in the world. It’s insane.
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i mean it’s basically what he did at spacex; just tossed money at it to keep exploding rockets until he got lucky
The difference between poker and rockets is we still have a lot to learn about rockets, and making them and trying to use them can teach you new things, even if they blow up. There is nothing new to learn in poker. This is why, if you watch a poker tournament on TV, they can give the odds of each hand winning after each step of the hand being played.
We know a lot about rockets. They were able to build rockets that launch reliably in the 1960s. Rockets are a difficult engineering challenge, but its one we understood half a century ago.
We aren’t learning anything about rocketry when elon blows up another rocket. All we’re learning about is the depths of both his pockets and his ineptitude.
There is one specific time where a poker pro did this. It was Gus Hansen, who is known for an ultra-aggressive style to begin with, and it was under specific circumstances where he had to win the table or be eliminated. If you break down the factors involved, it wasn’t as crazy as it looked. But was still damn crazy.
Once. That happened once where a number of things lined up perfectly. I would be very surprised if you found another instance of a pro player doing this ever.
Playing heads up, or when almost out of chips, this can be a either a winning strategy, or necessary. If Musk was doing this against a table of players he was just a fish the other players would have done whatever the could to keep him in the game for as long as possible.
Depending on the actual game played, and how/when he was going all in he might have been increasing the variance in the game, which might have priced inadequately bankrolled players out (but this is unlikely to happen with the likely professional/competent players in a game the size of which Musk might play) but ultimately he was printing money for everybody else.
Thiel just wants his fellow nepo-baby to appear smart. The competent players would have been happy to indulge the fantasy to keep the fish at the table.
Bozo is really living life with an infinite money cheat.
I don’t play Poker, so maybe one of you can explain this to me, because I’m not sure I understand this. If you go all-in and lose, your chips go to the other players. This means that, if you wanted to buy new chips and re-enter the game, you would need to buy more chips after each loss, because you need enough chips to force the other players who don’t fold to go all-in in order to beat them (and those players now have more chips).
Did I get this right? Because if I do, then this insane spiral of self-inflating risk really isn’t the flattering analogy that Musk fanboys probably think it is.
Also, do actual Poker tables even allow you to get back into a game that you lost when you come back with more chips? This seems implausible to me, because that would indeed be vulnerable to this “pay-to-win” strategy.
The “always go all in” strategy doesn’t make a lick of sense, yes. He wouldn’t need more money, so long as he won at least once, that would make him double his chips at least.
Also, do actual Poker tables even allow you to get back into a game that you lost when you come back with more chips? This seems implausible to me, because that would indeed be vulnerable to this “pay-to-win” strategy.
Probably yes, since new people getting in a different table happens in WSOP (biggest poker tournament). As for buying more chips, he’s buying from the house, guess who’s winning.
So this is kinda how I play poker in RDR2 I either fold if I’m dealt shit cards, or if I have decent hole cards I go all in. Usually only 1 of the NPC’s will stay in and everyone else will fold. You can bust out the entire table really quick this way.
Didn’t Thiel think Musk was a moron?
morons never recognise their own kind
