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

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

#91

Post by leesec »

matwood wrote: post #46
fencepost wrote: post #35

As someone who's not obsessively following Tesla, I'm a bit jaded by these. I'm sure there are problems, but what feels like massive PR efforts by the "shorts" has effectively poisoned the well for negative news. As a casual observer I can't tell what's actual bad news and what's well-orchestrated market-manipulation "OMG WE'RE ALL GONNA DIE" by people trying to drop the price, and I don't actually care enough about…

> I'm sure there are problems, but what feels like massive PR efforts by the "shorts" has effectively poisoned the well for negative news. What kind of PR effort do you need when every CFO you hire keeps leaving? Think about it. The person in the company who completely knows the financials stays for a month and bounces? Why? Could it be that the financials are so bad they are unfixable? Could it be that that person i…

Could it be it's a very intense place to work and people who get in that position decide they don't want to work the long hours when they could be making just as much money somewhere more cushy?

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

#92

Post by sowbug »

emptyfile wrote: post #37
toomuchtodo wrote: post #27

Earlier quoted context omitted.

> After that he had a range of little annoying problems, many of which were likely software bugs, but then he (actually his GF) experienced something in autopilot mode known on the Tesla forums as "shadow braking" -- the car braking hard on the highway because it seems to see the shadow of an overpass and think it's a wall. This is extremely dangerous. It was on the I-405 (SoCal) going 70-80mph, and such a thing coul…

Holy shit!!!?! Potential life threatening maneuvers on the road are a feature of the self-learning Autopilot system???? Because without it the car will just ram itself into a wall??? >With that said, if that causes concern for the driver, the vehicle isn't for them. What if it causes concern for the driver behind them, what then? My family will get a settlement after a Tesla kills me? How the fuck are these cars lega…

Being in a car is life-threatening.

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

#93

Post by jakobegger »

chollida1 wrote: post #80
nickik wrote: post #54

Earlier quoted context omitted.

With their current production rate they have 11 billion in revenue from the Model 3 alone. They guidance suggest they should be profitable this quarter because as of right now they are hitting their production target.

May i see your napkin math for the 11 Billion figure?

5000 cars per week * 52 weeks * 50000 average selling price = 13 billion dollar revenue per year

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

#94

Post by matwood »

dnomad wrote: post #75
matwood wrote: post #46

Earlier quoted context omitted.

> I'm sure there are problems, but what feels like massive PR efforts by the "shorts" has effectively poisoned the well for negative news. What kind of PR effort do you need when every CFO you hire keeps leaving? Think about it. The person in the company who completely knows the financials stays for a month and bounces? Why? Could it be that the financials are so bad they are unfixable? Could it be that that person i…

> What kind of PR effort do you need when every CFO you hire keeps leaving? It's really gotten to a point where all the Musk-haters now believe their own bullshit. This post (and many others in HN's bi-weekly anti-Musk thread) is a classic example. Tesla had had a grand total of two CFOs since Musk took over. > Could it be that that person is being pushed to stretch things a bit here and there to make them look bette…

>See, it's easy to ask stupidly leading questions and spout completely baseless speculation. What's more difficult is actually examining the facts and drawing a rational conclusion.

In the first quarter of this year, the company lost Morton’s predecessor, Eric Branderiz, and Susan Repo, who was treasurer and vice president of finance. CFO Deepak Ahuja retired in 2015, only to return in 2017 after his successor, Jason Wheeler, quit after just 15 months.

A rotating door of financial executives screams financial problems. Please tell me what rational conclusion I'm supposed to draw?

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

#96

Post by emptyfile »

goshx wrote: post #60
empath75 wrote: post #7

IMO, they should fire musk, slow down their blue-sky research projects, rip autopilot out of the cars, and just build "boring" luxury electric cars with huge profit margins and rake in cash.

Here’s a reminder of what this company is about: https://www.tesla.com/about

Pretty sure all companies are about making money, no matter what they write on their webpage.

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

#97

Post by _pmf_ »

Nokinside wrote: post #68
sophistication wrote: post #16

I'm not losing optimism because of this. Musk fits right into the current political & cultural trajectory and the Tesla brand is sleek & timeless. The media is framing Musk's flaws (Twitter insults, weed & booze) as a bad thing, but outside of the media, people do not care about such things nearly as much. It just requires a few years of optimization and the cars are going to be en par with established brands.

He is bipolar and it's going to end with tragedy if it's not addressed.

It's strange how much Elon Musk and Nikola Tesla have in common.

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

#98

Post by compcoffee »

rcMgD2BwE72F wrote: post #81
matwood wrote: post #30

Earlier quoted context omitted.

> 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 yea…

>What kind of error is that? They've aware of this, they are not correcting. All media who published the report and were made aware of the "mistake" kept it, even though the 50K is already proven wrong.

Who cares? What influence do you think this article and that estimate has?

"Disinformation"; that's laughable. Tesla and Musk are being sued and investigated for stock manipulation, but you're crying about Reuters being off on their prediction. Who is showing bias? Where is the outrage?

>And just as Tesla surpasses BMW and Mercedes in car sales in the US, it's only getting worse.

Sedan sales, while the whole industry moves to CUVs and SUVs. Do you think this is sustainable, or is it clearing a backlog? Why can you get a car in 2 weeks now?

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

#99

Post by flexie »

chollida1 wrote: post #80
nickik wrote: post #54

Earlier quoted context omitted.

With their current production rate they have 11 billion in revenue from the Model 3 alone. They guidance suggest they should be profitable this quarter because as of right now they are hitting their production target.

May i see your napkin math for the 11 Billion figure?

I think that would be something like 5,000 cars per week times 52 weeks times the average price of 42,000 dollars per car

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

#100

Post by martythemaniak »

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…

Kind of depressing that yours is the top comment, given how many outright lies it is based on.

>From the outside it looks like Telsa is about going to go into a tough winter like moment.

From the outside, it looks like they have a product that's a generation ahead of the competition and is flying off the shelves.

> They need to start designing and building out manufacturing facilities for their next car and the help bolster Model X manufacturing.

They are. Apart from the Shangai one, they've never actually stopped building the Reno factory, which still has to triple in size before it reaches its final form.

>They are cash flow negative, they have about a year of cash runway left( optimistically)

Based on 2 quarters during which they built up a factory. Their guidance for Q3 or Q4 has them turning a profit. Usually, people doing these wild extrapolations form the basis of jokes (ie Discu Stu's record sales).

> And the most worrying thing for them is that their next car will compete head on with Mercedes, BMW, Audi, and GM. That will be the first time they've had to compete head on with a competitor.

This is growing the EV market as a whole. Tesla does not want to own 100% of a sub-5% EV market. They want to own a decent chunck of a 100% EV market.

People really, really don't like hearing this particular point, but their cars are approximately a generation ahead of other EVs. Specs wise, Taycan and EQC are essentially matching a 2016-era Model S / Model X and will be available about 2 years from now.

Everybody seems to have forgotten how the Bolt was supposed to be the "Tesla Killer". Look, I even found one specifically from the same source as this article: https://twitter.com/business/status/554725778420957184

Then people were "worried" about their ability to manufacture at scale: https://www.theatlas.com/charts/HkNUFo57f

The problem is that when you actually have to put real money down and these theoretical comparisons become real, things go the opposite direction. Current Bolt sales are flat/declining around ~1500/month, while Tesla is pushing out 5000+ Model 3s per week.

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