Doesn't that seem actually surprisingly small amount of money? Or will it ramp up significantly?
Tesla discloses it spent $200k advertising on X
41–50 of 53 posts
Re: Tesla discloses it spent $200k advertising on X
#42Earlier quoted context omitted.
Elon has previously stated that he doesn't believe in advertising, "Tesla doesn't advertise". I assume that's the reason why it's newsworthy.
There's also the obvious conflict of interest. How does that get resolved?
It’s a pretty common practice. Microsoft spend 10 billion on OpenAI, but how much of that do you think makes it back into Microsoft through the Azure compute time OpenAI buys?
I think a lot of people who haven’t been involved with business laws (not sure what the correct English term would be) would genuinely be surprised with just how much you can do. I work in an investment bank, we manage around 1100 companies which are in reality investment projects. A couple of these are tied directly to ourself, so that we have a top shell company which owns the actual companies. One is an employee shell company which allows our employees to spend 14,5% of their yearly income on company shares, before taxes. Up to a certain amount of these can be sold at a 25% tax rate, it’s around $9000 a year that can be earned at a tax rate which is around 20% lower than the normal income tax rate ours employees pay. It also deducts from the amount of money they can earn before every thing they earn above that rate is taxed at almost 60%. On top of this, if they are married they can also use the $9000 of their spouse (if their spouse isn’t doing similar) and another $9000 for their household, because well, because the people who write/lobby these things are good at what they do. Anyway… it’s perfectly legal, even here in Scandinavia, and it’s maybe something 99% of our population has no idea exists.
And that’s just for employee benefits. You wouldn’t believe the stuff we do with our investment projects. I’m not going to tell you any of the current things, but at one point our government wanted to promote small businesses and made I square it with my personal morals because every project is either a solar park that was build or a solar park that was bought and renovated to be capable of running another 25-50 years instead of being scrapped. But on a whole… it’s just so ridiculous compared to what “regular” people do. Like… a Danish Nurse in the public sector (and honestly in virtually every private hospital/company) has none of these benefits. Often because even business owners outside of finance (or companies large enough to have big legal departments) has no clues these things exist. But in terms of income, our legal department sometimes generate almost as much revenue as our sales department now that we have as many projects as we do around the globe.
Re: Tesla discloses it spent $200k advertising on X
#43so?
Something about monopolies and cartels being bad.
Re: Tesla discloses it spent $200k advertising on X
#44Earlier quoted context omitted.
The article covers this. Quite well in fact. A public company where the owner had said “Tesla does not advertise or pay for endorsements” had said they were going to start doing that and this is following up on that. These sorts of things are generally note worthy for public companies. “Instead [of advertising], we use that money to make the product great.” That they feel the need to start advertising might mean the…
You are right that is exactly what I did. I did not need to read the article to know what they are talking about. A company maturing and doing what every other company is doing is not however interesting. The only reason it is a story is because it is an Elon company. Personally what I find strange is how people perceive Twitter comments as somehow a contract with the public. People say lots of things, the smart ones…
It’s a story, because people wonder if he’s using funds from one company he controls to prop up another company which he outright owns. Right now, the amount is small, but I expect it will increase.
Re: Tesla discloses it spent $200k advertising on X
#45Earlier quoted context omitted.
Tesla doesn't own X/Twitter though. Elon does. If I were a Tesla shareholder, I'd be mildly[0] irritated that Elon feels it's OK to take money out of "our" company to spend it on "his" company, even if there is some nominal benefit. [0] the amounts are so tiny, I wouldn't really care. I'd be more angry that he thinks he can reasonably function as a full-time CEO for Tesla while gallivanting about with his other ventu…
200k is tiny though. It is a non issue.
The spend is $200k now. It’s a non-issue now. It may become an issue later if the spend increases.
Re: Tesla discloses it spent $200k advertising on X
#46I guess its news because of his 2019 tweet, but I think its fair to say his strategy will change over time. To be really fair, he personally spend 40b+ on 'free' advertising to all his companies, every time he tweets, millions of potential people see it.
> To be really fair, he personally spend 40b+ on 'free' advertising to all his companies, every time he tweets, millions of potential people see it.
> every time he tweets, millions of potential people see it.
that feature is always there without the $40B spend :-)
Re: Tesla discloses it spent $200k advertising on X
#47Earlier quoted context omitted.
Elon has previously stated that he doesn't believe in advertising, "Tesla doesn't advertise". I assume that's the reason why it's newsworthy.
"Lying CEO lies again." or "Overconfident CEO has to eat his words again." Is this really a Musk thing or is he just the most visible and comical example of it?
Or, maybe the need for a focus group research with Tesla, advertising, and Twitter as topic had risen?
Re: Tesla discloses it spent $200k advertising on X
#48so?
Elon has previously stated that he doesn't believe in advertising, "Tesla doesn't advertise". I assume that's the reason why it's newsworthy.
It’s also a tough bit of hypocrisy because he said he doesn’t believe in advertising and then bought a social media company that (like others) relies on advertising for the majority of its revenue.
Re: Tesla discloses it spent $200k advertising on X
#49Earlier quoted context omitted.
Elon also loves a new opportunity to bash people, what goes around comes around.
Not sure we want HN to become the place where we bash people that like to bash people.
I'm not saying that's what I want, I'm simply stating a rule of nature or rule of thumb, whatever you want to call it. What goes around tends to come around.
Re: Tesla discloses it spent $200k advertising on X
#50I guess its news because of his 2019 tweet, but I think its fair to say his strategy will change over time. To be really fair, he personally spend 40b+ on 'free' advertising to all his companies, every time he tweets, millions of potential people see it.
Arguably kind of _negative_ advertising, though. Like, I'm not sure people are buying Teslas _because of his tweets_.