MCViewPoint

Opinion from a Libertarian ViewPoint

Elon Needs More Money (Again) – EPautos – Libertarian Car Talk

Posted by M. C. Fox on June 17, 2018

This is the same Elon Musk that has the rocket company doing what NASA can’t. I don’t know where he gets his rocket company money. Probably a lot comes from you and me. I think we need a (sort of) private rocket company that actually makes something we need.

Musk should knock the electric car on the head go full tilt into the rocket bizz. Maybe then we have a chance on catching up with the Ruskies.

https://www.ericpetersautos.com/2018/06/14/elon-needs-more-money/

by Eric

Last month, I wrote about Tesla CEO Elon Musk’s contemptuous and breezy dismissal of questions asked by financial analysts about the cashflow situation at Tesla. Would the company need yet another infusion of money to remain afloat? Lame! Next question.

That was Musk’s response.

As it turns out, it’s Tesla that’s lame.  The company – Musk – just laid off several thousand employees, about 9 percent of its workforce – which is one way to raise cash (by not spending it on worker salaries) when you don’t want to admit you need another infusion from investors – or realize you might not be able to get one because those investors are becoming gun-shy about giving money to Elon.

Even so, Tesla has lost something on the order of $5.4 billion dollars so far, according to most estimates. Yet – until quite recently – most media coverage of Tesla has focused on what amounts to financial Fake News of the most egregious kind, such as the hype-driven value of Tesla stock. It’s true the stock price zoomed upward like a bottle rocket on the 4th of July. But what was driving this?

Not anything of value.

Analysts refused to analyze the fact that Tesla loses money on every car it sells. That it remains in business only because of investor infusions and deposits given on cars that never seem to materialize…

Be seeing you

240px-Oxford_Dodo_display

Tesla bird

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