Elon Musk is building a form of capitalism that Adam Smith would hate

Elon Musk is building a form of capitalism that Adam Smith would hate

The merchants are becoming princes, writes Tim O’Reilly

The Economist, 

Elon Musk: he now envisions SpaceX becoming “worth more than the rest of Earth” if it accomplishes its long-term goals. That prediction, made in response to a supporter who questioned the rocketry firm’s AI-compute deal with Anthropic, a competitor, may or (more likely) may not come to pass. There is, however, much about SpaceX that Mr Musk can control—indeed, much more than the typical majority owner.

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(*) https://www.economist.com/by-invitation/2026/07/12/elon-musk-is-building-a-form-of-capitalism-that-adam-smith-would-hate