Elon obviously knows about sensible spending.
Musk rallied arguably the most prestigious roster of technology superstars ever assembled for a single investment. It hasn't gone well so far.
fortune.com
“We can apply the same math to the 19 equity partners’ original, $7.1 billion investment. By Fidelity’s measure, it’s now worth one-third of that total, or $2.34 billion, meaning that as of now, the group has suffered an almost $5 billion loss. That’s a $670 million drop for Ellison, a $540 million slide for Sequoia investors, and a $260 million bath for the Andreessen Horowitz Capital Fund. By Fidelity’s reckoning, Baron’s down by $67 million.”