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The Flamethrowers aren't a Tesla fundraiser. He's "getting away with it" because The Boring Company is private.
He’s also getting away with it because it was a propane torch mounted in an airsoft gun, not a dangerous weapon. It’s a tool in a toy, so basically... who cares?
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Because he's Elon Musk and he doesn't care about investor returns, he wants to build rockets, cars, tunnels, and explore space. No matter what he does he'll more than likely be fine on the money side.
> he's Elon Musk and he doesn't care about investor returns Then he shouldn't be the CEO of a public company which continues to sell stock and debt to investors on the promise of a return. Also, Elon Musk very much does care about returns. He has a great track record in that department. He's just learned it's not something that's healthy to focus on in the short-term. Unfortunately, running out of cash forces the com…
Tesla will be fine.
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"Sacconaghi pressed ahead with another query about Tesla lowering its 2018 capital expenditure projection to $3 billion, from $3.4 billion. Ahuja said the carmaker would spend less by simplifying its approach to automation and curtailing infrastructure outlays. 'And so where specifically will you be in terms of capital requirements?' Sacconaghi said. 'Excuse me. Next. Next,' Musk said to the call operator. 'Boring, b…
To be fair, he's not entirely wrong. I guess people just don't expect this type of response. But then, acting within the confines of normality isn't really the trait that may bring the dawn of a new era of humanity. Interestingly though, markets are reaction to this response emotionally.
I was on this call. It was extremely cringey/embarrassing to hear Elon dismiss valid questions. At the same time, it was fantastic to see a young, smart, retail investor (Gali from Hyperchange) get to ask so many questions directly to the leadership team. I thought before the call that Gali would get to ask only one question, like the other analysts. He was able to ask almost 10! It was surreal. I was left feeling th…
I'm asking seriously though, what would he stand to gain from hiding info about capex? Or do you think the reaction from investors is due to his attitude or signs of stress/things going wrong internally?
Musk sounded exhausted. If Smith & Wesson launched a consumer flamethrower there would be outrage...Musk has been able to distract with lots of shiny objects but the clock is ticking, even amongst his niche fan base...I hope all the people who are working so hard in Musk's various companies come out of this ok...
For the sake of society, I hope Musk succeeds. We've spent too much time as a culture celebrating fairly useless achievements and being unwilling to dare to do the things that will truly take us forward.
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Yeah but his questions weren't really that great. The two questions from analysts he skipped before throwing it to the youtube guy were tough questions asking about specific details that Elon obviously didn't want to answer. Youtube guys questions were softer which is why Elon stayed with him for so long. I have to say I think letting someone like Gali ask questions at all is pretty bad, it specifically degrades what…
I disagree - I thought the questions were good. I wish both sides were able to answer questions, as Elon had promised in the beginning of the call! (He said something along the lines of, we want extra time for Q&A, will keep the call running until there are no more questions) Having a retail investor at the table is a great thing for Tesla shareholders, IMO because so much of the public is interested in the company.…
What do you mean by "so much of the public"? Outside of tech circles, Tesla isn't as well known as you imagine.
Why do we need to hear about all of their ideas and potential on the conference call? I can read Twitter, Electek, Teslarati, Reddit or others for that.
Tesla is clearly flying close to the sun, and Musk is not incorrect to suggest that investors who can't take that kind of risk should not be along for the ride; however, it probably would have been more prudent to hold back on that pronouncement, given that many investors seem to have taken the hint and exited the stock... Tesla is a giant confidence game - as are most high growth opportunities.
Do you literally mean that Tesla is a scam? (That’s the normal meaning of “confidence game”, i.e. “con game”).
Elon has always seemed to have the attitude of "not everyone should invest in this stock". I find this refreshing. God forbid a CEO do anything except try to drive the share price as high as humanly possible. I don't know if this carries the same weight in a public company, but setting expectations with investors is super important in a startup and prevents a ton of wasted time wrangling investors who don't get the t…
Sounds like the CEO equivalent of a movie director saying "I didn't make this one for the critics." Translation, "I know there are problems but I'd rather have my ego stroked by fans than face real criticism."
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Er, why is asking for something fundamental to running a business (i.e. "How much money do you have/need?") a partly boring/boneheaded/uncool question?
Been running it fine for 10 years. Does sound boring.
[0] https://twitter.com/elonmusk/status/799908000689336320
[1] https://twitter.com/elonmusk/status/823727035088416768?lang=...