Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges • Hacker News Board

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#81

Post by rcMgD2BwE72F » Fri, Sep 07, 2018, 2:20 PM UTC

matwood wrote: post #30

rcMgD2BwE72F wrote: post #10

Earlier quoted context omitted.

>They are almost losing by winning. They are at capacity in their Fremont factory but still not making a profit. Source? They are now at capacity and they are expected (by Tesla top management) to announce profitablity for this quarter. In other words, they were not a capacity last quarter and not profitable. That's why with the record sales and production of this summer, Q3 earnings publication will be very interest…

> By then, the shorts (with billions in backing) will do all their best to give the company an extremely bad look. Please stop with this thought process. TSLA is doing a fine job all on its own making themselves look bad. On the business side, Musk has missed how many production estimates? There are also concerns about quality. On the personal side, he's still harping on this pedophile thing /facepalm. Then what look…

I don't think you realize how much FUD is disseminated daily in the mainstream media.

Take this Reuters article for instance, which has been published and translated by dozens of top newspapers: https://www.reuters.com/article/us-tesla-germany-daimler/ele...

3rd paragraph: "The market for upscale electric cars is Tesla’s to lose, with sales of its entry-level Model 3 sedan expected to reach about 50,000 cars this year and almost double that in 2019."

All sources indicates that Tesla has already produced 50K Model 3. In the first three quarters. There's is still one quarter to go in 2018. And Tesla plan to produce more than 300K Model 3 next year, not 100K.

What kind of error is that? Reuters is aware of this "mistake" and they are not correcting it. All media who published the report and were made aware of the wrong numbers kept it "as is", even though the 50K has already been proven wrong.

How can Reuters and co keep such blatant errors while knowing it's bullshit? For some reasons, the disinformation only increases as Tesla pressures the legacy automakers margin (Tesla surpassed both BMW and Mercedes in US car sales this summer while the German are losing big time).

Reuters & co might not be short themselves. But they knowingly play the short game and kep spreading the FUD ("See these terrible numbers? Who can expect Tesla to turn a profit? Now, let's hear what competitors and short sellers have to say...").

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#82

Post by ModernMech » Fri, Sep 07, 2018, 2:20 PM UTC

aintnoprophet wrote: post #55

cecja wrote: post #28

Earlier quoted context omitted.

Talk about gaslighting yourself. If you are not recoginizing that something fishy is going on at tesla you are not reading the same articles as the rest of us.

It doesn't seem anymore fishy than a lot of software/IT companies. Tesla is designed to produce a product not necessarily for profit. CFOs, like most corporate execs, are more concerned about money than philosophy. Musk thinks he is/can change the world. He's not concerned with how much he can profit.

> Musk thinks he is/can change the world. He's not concerned with how much he can profit.

Then why didn't he start Tesla as a nonprofit? Your characterization would be much more credible if he didn't personally own a very valuable chunk of a multi-billion dollar company.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#83

Post by dasil003 » Fri, Sep 07, 2018, 2:21 PM UTC

rcMgD2BwE72F wrote: post #52

dasil003 wrote: post #21

Earlier quoted context omitted.

I don't care how much he works, but he's gotta do something about his thin skin and incompetence with the media.

Not everyone expect an industry leader to fake a persona in public so as to appear like the media want them to. Wall Street might want that but hey, who cares?

It's not about how the media wants him to look, or even what shareholders of his companies want, it's about how the perception of his broader endeavors. The defensive way he reacts to any kind of criticism undermines the personal image which he has worked so hard cultivate.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#84

Post by randlet » Fri, Sep 07, 2018, 2:21 PM UTC

dgritsko wrote: post #73

maxxxxx wrote: post #62

I just watched a part of the Joe Rogan podcast with Musk and I have to say he looks very unhealthy. Maybe I am wrong but to me he looks like he is drinking a lot or on some other drugs. I can imagine working with a CEO who is pushing himself way other the limit is a pretty unpleasant experience.

Didn't he actually smoke weed live as part of that broadcast?

He had a single puff and did not appear to inhale (his body language made it look like he was a very inexperienced smoker). He said he'd tried it before but wasn't a big fan (a pretty common experience).

edit: people are going to need to get used to the fact that weed is going to become as normalized as alcohol (which is a harder drug than weed).

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#85

Post by compcoffee » Fri, Sep 07, 2018, 2:21 PM UTC

rcMgD2BwE72F wrote: post #65

scottkduncan wrote: post #47

Earlier quoted context omitted.

"Wall Street" is not betting on them to go bankrupt. Collectively, investors value this company that produces, at best, 7K cars a week at $45 billion. The idea that one quarter of profitability achieved through slashing capex to the bone fundamentally would fundamentally change their valuation doesn't carry much water in my view.

>Collectively, investors value this company (...) Most large investors are just holding. The small amount of shares that are exchanged every day are bought/sold by speculators and they are backed by institutions that get paid for this intraday activity. Also, with all the short positions on TSLA, the bank are risking an almost infinite sum of money (in case of a short squeeze). Since Tesla doesn't intend to raise cap…

>The small amount of shares that are exchanged every day are bought/sold by speculators and they are backed by institutions that get paid for this intraday activity.

The largest shareholders were dumping shares last disclosure. Do you have data that says otherwise?

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#86

Post by ajmurmann » Fri, Sep 07, 2018, 2:21 PM UTC

I think it's time for Elon to step away from Tesla. He is an incredible visionary and that's what made Tesla possible and revolutionized the car industry. That work is done now. Everyone is making electric cars now. There is no need for Elon to innovate at Tesla anymore. I might even go so far and say that Tesla had moved the entire industry so much that there isn't even much need for Tesla itself.

I think it's best for everyone if Elon focused on SpaceX, the Boring Company and his AI endeavors. Tesla sticks out from this list because mission is accomplished.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#87

Post by [deleted] » Fri, Sep 07, 2018, 2:22 PM UTC

dgritsko wrote: post #73

maxxxxx wrote: post #62

I just watched a part of the Joe Rogan podcast with Musk and I have to say he looks very unhealthy. Maybe I am wrong but to me he looks like he is drinking a lot or on some other drugs. I can imagine working with a CEO who is pushing himself way other the limit is a pretty unpleasant experience.

Didn't he actually smoke weed live as part of that broadcast?

[deleted]

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#88

Post by sofon » Fri, Sep 07, 2018, 2:22 PM UTC

pjc50 wrote: post #29

chollida1 wrote: post #3

And their Chief People Officer, is not coming back from her leave. From the outside it looks like Telsa is about going to go into a tough winter like moment. They are almost losing by winning. They are at capacity in their Fremont factory but still not making a profit. They need to start designing and building out manufacturing facilities for their next car and the help bolster Model X manufacturing. Stop and think f…

> Tesla is one earthquake away from no longer being a company. So is most of Silicon Valley, which is actually in an earthquake zone that some believe is overdue an earthquake.

Are many/most companies with billion dollar valuations so exposed?

I would imagine most billion dollar companies have multiple sites and manufacturing and data centers spread across multiple sites.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#89

Post by claydavisss » Fri, Sep 07, 2018, 2:24 PM UTC

"Stock Plunges"?

If anything, TSLA seems to continue to ride high with only small relative deviations with news that would gut any other stock.

Not to say I am bullish on TSLA...quite the opposite. TSLA will inevitably crater but it is going to take most of the NASDAQ with it and probably wipe out the mobility 2.0 market segment and the EV and nascent AV markets.

Silicon Valley is way overdue for a serious garbage collection cycle....TSLA is going to trigger it eventually. Its not all bad: a big reset in SV would benefit the big players like Apple and Google who will suddenly have a much deeper and cheaper talent pool to access.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#90

Post by compcoffee » Fri, Sep 07, 2018, 2:24 PM UTC

rcMgD2BwE72F wrote: post #10

mathattack wrote: post #5

Earlier quoted context omitted.

If they are at capacity, why don’t they charge more money?

>They are almost losing by winning. They are at capacity in their Fremont factory but still not making a profit. Source? They are now at capacity and they are expected (by Tesla top management) to announce profitablity for this quarter. In other words, they were not a capacity last quarter and not profitable. That's why with the record sales and production of this summer, Q3 earnings publication will be very interest…

>They are now at capacity and they are expected (by Tesla top management) to announce profitablity for this quarter.

Honest question: when did you start following this company? Elon has claimed profitability for years. Where is it? Where are the economies of scale that were promised?

>By then, the shorts (with billions in backing) will do all their best to give the company an extremely bad look.

The shorts will? Really? Which stories are false?