Sam Boughedda

Tesla (NASDAQ) CEO Elon Musk said late Thursday that although we are approaching recession, it was actually a positive thing.

Musk was asked by a user on Twitter if he thinks that we’re approaching a recession. He replied “Yes but this is actually good.” This has been going on for far too long. “Some bankruptcies are necessary.”

“Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!” He added.

Covid was the catalyst to encourage more people to work from home. Individuals and companies were also given stimulus payments during lockdowns.

After his comments another user asked Musk (NYSE:) how long he thought the recession would last. Based on previous experience, he responded that it could take between 12 and 18 months. “Companies that inherently generate negative cash flow (ie value-disrupters) must die so they can stop consuming resources.”

This is a positive thing. Too many fools have been benefited by this. Bankruptcies are necessary.

Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!

— Elon Musk (@elonmusk) May 27, 2022