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

According to Elon Musk, Tesla CEO, who gained even more popularity after buying Twitter, and who previously predicted an economic recession 

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

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

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.".

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

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!"

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