--- title: "Elon Says a Recession Would Be a “Good Thing”" description: "Fresh off his recent Twitter-buying fail, Elon Musk is now claiming that it would be good, actually, if the world went into a recession. " date: "2022-05-27" modified: "2022-05-27" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/elon-musk-recession-good-thing" categories: - "Future Society" tags: - "economy" - "elon musk" - "the digest" - "twitter" --- # Elon Says a Recession Would Be a “Good Thing” ![Fresh off his recent Twitter-buying fail, Elon Musk is now claiming that it would be good, actually, if the world went into a recession. ]() *\Image: Sean Zanni/Patrick McMullan via Getty Images\* ## Good Riddance Fresh off his recent Twitter-buying fiasco, Elon Musk is now claiming that it would be good, actually, if the world went into a recession. The SpaceX and Tesla CEO revealed that he believes the world is [approaching a recession]() — which "is actually a good thing," he says. "It has been raining money on fools for too long," the world's richest man remarked. "Some bankruptcies need to happen." His remarks come at a rather odd time, given that Tesla stocks [have been plunging]() over the last couple of weeks, ever since the billionaire CEO [revealed plans]() to buy Twitter for $44 billion. The comments also shouldn't come as too much of a surprise given the fact that Musk has repeatedly railed against the stock market, most recently criticizing the S&P 500's sustainability index for [booting Tesla from the list](). ## Bad Takes In follow-up tweets, Musk [argued]() that the next recession could last "about 12 to 18 months," noting that "companies that are inherently negative cash flow (ie value destroyers) need to die, so that they stop consuming resources." In other words, his competitors should get off of his turf. Musk also [revealed]() that he thinks COVID-19 lockdowns made people lazy. "All the COVID stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard," Musk said. "Rude awakening inbound!" But is Musk really in a position to make these sorts of arguments? Given that [he has already lost more than a $1 billion in Twitter stock]() since he began his [cursed bid]() to buy the social media giant, it seems very much like he could be the one who's in for a rude awakening — after all, it's been "raining money" on him for quite a long time. But then again, people in glass houses sure do love to throw stones. **More on Elon:** *[Elon Musk Speculates About Storing All Human DNA In A Database]()* ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()