71–80 of 185 posts
Couldn't Tesla / SolarCity just said, "Hey, company didn't do well, sorry, here's 2 weeks severance"? Why do this whole "bad performance review" nonsense.
Because the stock price would drop and Tesla wants to do another round of funding (aka issue more stock) soon.
I am pretty pro-union. However, in the case of Musk's enterprises, where there is this larger goal that is finally seeming to become possible, I am torn. I feel that anyone that works at these places should know and be a zealot for the Cause...but I suppose that Elon Musk probably should share his stakes with them a bit more, in that case. edit: I believe workers should be treated fairly, but I also want us to go to…
While critics often mock the “cult” of Musk, his defenders usually deny the characterization. You rarely see such an explicit acknowledgment and endorsement of it.
The honesty is refreshing, I guess, even if the content is appalling.
This doesn't really surprise me. A few years ago we had lead generation software that catered to the solar industry. We had some decent sized clients and it did really well for about 2 years. Once the tax credits started going away and the power companies started killing off their rebates, a lot of these solar companies were not able to survive. One of our larger clients who was heavily funded went bankrupt this year…
I’m surprised. At the rate PV has been falling these subsidies are probably negligible (federal rebate withstanding). I purchased PV because the cost with a 20-year loan comes out to be 13c kWh, meanwhile PG&E charges 29c kWh. And the loan interest is tax-deductible.
At Solar City, sales must be down if they're closing entire offices.
1,200 of 33,000 employees amounts to 3.6% of the work force. This level of action, 1 in 25 employees, gives managers an opportunity to release employees that looked good in the interview but did not meet expectations. Whether Tesla conducted this in a proper manner is open to debate and perhaps details will emerge if/when any former employees pursue Tesla in court. But any company needs to address the inevitable hiri…
SpaceX, Tesla, and SolarCity: ponzi schemes that have a little tech behind them and pull on our heartstrings.
Ponzi schemes don't produce major technological advancement. SpaceX made reusable rockets a thing. Tesla made great cars with bleeding-edge EV technology. SolarCity made "solar roof" a viable & aesthetic product. All three are still thriving on a lot of tech advancement. Long-term success remains to be seen in three very difficult industries, but current performance is certainly not the facades of Ponzi schemes.
The space shuttle was reusable. It just wasn't cost-effective. So far, SpaceX hasn't proven their resuable rocket is cost-effective either.
> Tesla made great cars with bleeding-edge EV technology.
Model X ranked dead last in reliability: https://www.cnet.com/roadshow/news/consumer-reports-survey-m...
Model S owners have also complained about reliability and build quality problems.
I don't know much about SolarCity as a business, but the Tesla buyout has a lot of sketchy signs about it https://www.fool.com/investing/2017/10/18/solarcity-teslas-s...
I don't necessarily think Musk's companies are literally "Ponzi schemes", but they are less impressive than the hype surrounding them, and they all rely heavily on government subsidies.
I just wish HN would take the same critical eye to Musk that it does toward other business luminaries. It seems like far too many people are easily seduced by "Mars colony! Hyperloop! Rocket around the world!"
Earlier quoted context omitted.
The Department of Labor usually investigates these things.
This is not your father's Department of Labor. I see little chance that any enforcement will happen.
I know you meant that as a veiled criticism of Trump, but here's the reality: The US government under Trump is getting itself turned around after decades of mismanagement. It won't happen overnight, but there are clearly much-needed reforms in progress and a lot of people don't like that. And the rest just take cheap shots because they simply don't know any better.
I am pretty pro-union. However, in the case of Musk's enterprises, where there is this larger goal that is finally seeming to become possible, I am torn. I feel that anyone that works at these places should know and be a zealot for the Cause...but I suppose that Elon Musk probably should share his stakes with them a bit more, in that case. edit: I believe workers should be treated fairly, but I also want us to go to…
> edit: I believe workers should be treated fairly, but I also want us to go to Mars. If 1 prevented 2, I would be torn. Why should this earn a negative vote? I assume because this same argument, if you took it to ridiculous extremes, could be used to justify a whole range of terrible shit. Watch: "I believe workers should not be enslaved, but I also want us to go to Mars. If 1 prevented 2, I would be torn." "I belie…
Sources said that HR department representatives told staff in one office they were being let go due to problematic "conduct with peers." When questioned, an ex-employee said, HR declined to specify any details about the alleged poor conduct, which had never been previously discussed. Is this pre-empting a union push?
My guess is that since Musk companies don’t feel constrained by rules, they figure they’ll save money in UI taxes by forcing workers to adjudicate their UI benefits. They get the benefit of cooking their balance sheet as an additional benefit.
Earlier quoted context omitted.
Because the stock price would drop and Tesla wants to do another round of funding (aka issue more stock) soon.
The stock price has dropped by $64 since the start of the week BTW. It was at $325 when I checked earlier today and came from a high of $389.