The Container Store has been hit hard by a weak housing market and inflated prices.

Musk has given 25% of the shares in his startup xAI to investors who helped fund his $44 billion acquisition of the social media platform X, formerly known as Twitter, in 2022.

Experts predict Black Friday and Cyber Monday will rake in record sales since cash-strapped customers have been waiting for a good sale.

"That kind of obsession is possible, especially for people who are not fully formed," Schmidt said during a podcast.