

He has nothing to lose by competing. He owns a stake in Reddit, and he’s rebooting a competitor. He wins either way, and striking out on his own has a better chance of making him more money than relying on his stake.
If he fails and Reddit “wins,” he still has his stake to fall back upon.
Yeah, but you and much of the business world have intelligence and strategy. Elon is the guy who thinks he can just pay some Chinese gamer to play a game for him, then pretend he did it himself; that’s his version of “brilliant strategist.”
It’s no wonder he can’t figure out how to automate anything safely or correctly, because he doesn’t actually understand how to do anything himself, and he can’t just pay some Chinese rando to do it for him.