Canoo spent double its annual revenue on the CEO's private jet
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Re: Canoo spent double its annual revenue on the CEO's private jet
#2Where is the BOD? The amount of self-dealing and conflicts of interest that everyone allows is just absurd.
Re: Canoo spent double its annual revenue on the CEO's private jet
#3End of ZIRP was supposed to deal with shit like this. Looks like money is still too cheap.
I've seen people saying rates are going higher from here back in 2022. While this isn't my base case, it certainly isn't impossible.
Re: Canoo spent double its annual revenue on the CEO's private jet
#4I should quit my job and become a CEO, seems like a pretty sweet gig.
Re: Canoo spent double its annual revenue on the CEO's private jet
#5I also love when startups brag about headcount. You know what's impressive? Revenue, followed by profit, and also profit per employee. Having 500 people and no revenue leads to the graveyard.
Re: Canoo spent double its annual revenue on the CEO's private jet
#6Wow, it’s bad enough if they were NetJet fees.
This is WeWork level sketch: “ Canoo reimburses Aquila Family Ventures, an entity owned by the CEO, for use of an aircraft”
This is a PUBLIC company??
Re: Canoo spent double its annual revenue on the CEO's private jet
#7> Under a deal reached in November 2020, Canoo reimburses Aquila Family Ventures, an entity owned by the CEO (Tony Aquila), for use of an aircraft. In 2023, Canoo spent $1.7 million on this reimbursement — that’s double the amount of revenue it generated. Canoo paid Aquila Family Ventures $1.3 million in 2022 and $1.8 million in 2021 for use of the aircraft.
I'm surprised there are any employees left at the company. If I saw that the CEO is actively funneling funds out of the company where we work, to their family's company, I'll be long gone.
Re: Canoo spent double its annual revenue on the CEO's private jet
#8It’s OK because Elon uses a private jet and look at Tesla!
Re: Canoo spent double its annual revenue on the CEO's private jet
#9I also love when startups brag about headcount. You know what's impressive? Revenue, followed by profit, and also profit per employee . Having 500 people and no revenue leads to the graveyard.
No, it leads to layoffs, a statement about "optimizing operational costs", and a bump in valuation in today's weird market.
Re: Canoo spent double its annual revenue on the CEO's private jet
#10End of ZIRP was supposed to deal with shit like this. Looks like money is still too cheap. I've seen people saying rates are going higher from here back in 2022. While this isn't my base case, it certainly isn't impossible.
Rates should go to 15% without bailouts.
Anyone who survives that deserves all of the rewards.