Elon Musk says upcoming recession is 'actually a good thing,' and predicts how long it will last

Tesla CEO welcomes prospect of economic correction, saying that value-destroying companies need to die

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the upcoming recession will be "actually a good thing," a necessary "rude awakening" after a lax attitude following COVID-19.

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Musk was asked, "Do you still think we are approaching a recession?" by a Twitter user.

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Tesla CEO replied, "Yes, but this is actually a good thing.". "It's been raining money on fools for too long. Some bankruptcies are due.".

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"Also, all the Covid stay-at-home stuff has tricked people into thinking that you don't have to work hard

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he added, referring to the increasing number of workers working from home during and after the pandemic, as well as the lax attitude caused by COVID-19 checks. "Rude awakening is imminent!"

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The three rounds of COVID-19 relief included stimulus payments for both individuals and companies.

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