Guest Post by Eric Peters
If you’re a billionaire.
Count it out. One billion dollars is one thousand million dollars. If you have one thousand million dollars, $20 million is of the same consequence as losing a $20 under a sofa cushion is to the rest of us.
Elon Musk is reportedly worth somewhere in the vicinity of $23 billion. For him, the $20 million fine imposed by the SEC for fraud amounts to the same as losing a penny behind the sofa cushions for the rest of us.
So, effectively, a slap on the wrist – for fraud. For actually causing harm.
Contrast the kid-glove treatment meted out to Elon with the NKVD-style inquisition visited upon Martha Stewart – a productive woman whose businesses didn’t have a taxpayer pickpocket division
She was vengefully pursued by the feds over what they styled “insider trading” – but were unable to prove in court. They then pursued her even more vengefully for “conspiracy” – which is government-speak for some intangible thing which amounts to we’re gonna-get-you-sucker, for something.
Usually that something is failing to help the government put you behind bars by witnessing against yourself.
So they got her on that – they can get anyone on that – and put her behind bars for it. To ice the cake, they sent her to an especially bleak and distant clink located in Alderson, West Virginia – far from her family in New England and contrary to her request to be caged closer to them, at the clink in Danbury, CT. The Department of Justice (sic) denied her request, claiming that caging Stewart in Connecticut would make it too easy for the media to get to her.
No Hotel Graybar for Elon, though. Not even an ankle bracelet. And while he was forced to resign as chairman of Tesla, he’s still not only on the board of directors of Tesla, he is still the CEO – and thus, his punishment is as meaningful as the chump change fine.
Despite his entire enterprise being a gigantic fraud.
Consider his shady marketing, for instance. He touts his $35,000 Model 3 – the model thousands of people have put earnest money deposits on – as being “affordable” and by dint of that, the model which will sell in quantity sufficient to make Tesla profitable on its own two legs (rather than depending for profit on its taxpayer pickpocket division – including tax-refund bribes to people who buy Teslas).
The problem is that Model 3 – the “affordable” one – isn’t being produced. The Model 3 which is being produced costs closer to $50k – and Elon charges extra for any paint color other than black.
This Model 3 at least has a range greater than 150 miles (the range of the “affordable” Model 3, which has a weaker – but cheaper – battery pack). He touts the range of the $50k Model 3 – but not the price.
Or the unavailability of the $35k one.
Ordinary car dealers get in trouble if they bait-and-switch customers too blatantly, advertising a low price for a model they don’t stock on purpose to lure people into the store and then hard-selling them the loaded, much more expensive stuff they’ve got on the floor.
A car company which claimed in its official advertisements and public pronunciamentos that it would be selling a new model at a certain price and then only made available the same car (more or less) at a much-inflated price would likewise probably experience rougher treatment than Elon has received.
Keep in mind: Elon took money (deposits) from people for the $35k Model 3 but is only delivering the $50k Model 3. And the value of Tesla stock is premised, largely on the “affordable” but not being made Model 3.
SEC, phone home?
Another scandal not much talked about is Tesla’s infamous lack of support for its cars already in customer’s hands. If you buy a used Tesla, for example, you may find it is not possible to get necessary parts and Tesla service centers won’t touch the car, either.
You’re on your own with a car that no one else makes parts for – and very few can fix.
Tesla also insists on a very creepy de facto joint ownership of its cars, even after they’ve been purchased. Each car remains connected to the Tesla Hive Mind – to get “updates,” as it were but also to assure that Tesla still has operational control over cars it no longer owns but apparently thinks it still does. If you disconnect, the car is no longer supported – which amounts to the same thing as owning car you can’t get replacement tires or windshield wipers for.
All of this – and much more – begs the question: Why has Elon been treated so indulgently?
It’s because he is useful to the Oz behind the curtain.
Elon’s role wasn’t – and isn’t – to sell electric cars. His role was – and is – to normalize them and sex them up. To get people used to the idea and to create a an appealing fantasy, in order to get people focused away from the reality of electric cars – which are the tool by which they will be pried out of their affordable (and controlled by them) cars and into something no longer affordable and no longer controlled by them.
It’s genius bait-and-switch, really – one must not grudge a tip of the hat.
Ugly and slow electric cars have been tried for decades – for the past 50-plus years. Affluent virtue-signalers were not interested and neither was anyone else. It was like trying to make Dianne Feinstein a sex symbol. Marketing is powerful, even hypnotic – but there are things beyond its power.
Then along came Elon with his high-performance luxury-sport sedans, which incidentally (but not uncoincidentally) happened to be electric. These did appeal to affluent virtue-signalers, who bought them for the same reason they buy high-end Benzes and BMWs. This created an aura of sex appeal and misdirected the discussion about EVs away from such mundane considerations as whether they are sensible or practical as transportation vs. cars powered by combustion engines.
The media (especially tech-obsessed,metrosexual and climate-change-snuggling urban media) was enraptured by the sexy Teslas, wrote about how quick and “hip” they are. Hype was born.
A manufactured buzz created.
Very few people – about 1 percent of the market – buy electric cars and yet literally every car company either makes one (or several) and soon will be making many more.
Elon made that happen. He manufactured the image and perception of a demand which does not exist but which is absolutely essential to Oz, if his plan to force-retire all cars which aren’t electric and which are under our control is to be realized.
And that’s why Elon gets the kid glove treatment. An indulgent parent finds it difficult to correct his besonderes Kind.
I’m going to open a pizza place next to wherever Musk lives. Unlike my competitors I’ll stay open all night. Most things in CA close early, so I’ll corner the market on late-night pizza. When Elon calls for delivery, I’ll charge him $25 million (although delivery is free). He smokes pot.
Good idea, then you should steal another rowboat and hide from the cops in some bushes again.
Scarily sharp memory you have there. Are you EC? Funny thing is, I was walking by the same “tenders” (rowboats) a couple nights ago and one of them wasn’t locked, and I almost did the same damn thing all over again, but I thought better of it.
Wasn’t me, this place is good for disseminating bad behavior. Even RiNsey is going rouge.
You mean communist? Or did you misspell rogue?
With you spics I never can tell.
El Douche gets a taste of his own Corona, I like it.
Yes, I meant rogue because he sounds more like Stuck every day. It’s an old Sarah Palin joke, morans. Damn, you guys have short memory sticks.
Next time I kill a guy I have to remember not to leave any details here.
We are monitoring your activities closely.
Hugs-The Goobermint
Funny, Iska.
Substitute college towns for Muskie, and that’s the game plan by the guy who owned Little Ceasers empire, Mike Illitch.
Family now owns 2 professional sports teams, and is a major stake in a brand new arena.
Besides a ton of small pizza joints that rake in the dough, consistently profitable.
I delivered pizzas as a kid. The potheads were the best tippers by a country mile; they were so fucking excited to have munchies delivered.
The rich folks would hand you a $20 bill on a $19.78 charge and stand there waiting for change.
First, let me say this: I was right. You hear me Star? I was right! I said most probably he would get tossed off the board. The only reason he did not get tossed totally out of the company is that the SEC was shit-scared the whole house of cards woukd have folded immediately, instead of in slow motion.
Second, I do not believe the $20 million is the end of it. The private lawsuits are coming, and I believe they will make that payout look like petty cash.
Tesla is toast.
Enron is a great illustration.
The real fireworks won’t start until the common stock share price craters. Once TSLA is down 95%, look for a Conga Line of scandals emerge into public view.
This is true of the whole market. No one watches the goings-on when share prices are rising. It’s a great time for parasites and criminals to do their work in the shadows (and this includes the executives of the corp.)
Only once the euphoria wears off do people realize they’ve been roofied and sodomized.
Musk walks on water?
Star – where the hell are you? I am kicking you in the nuts, and you are nowhere to be found. Come on now, I have been telling you how this would go. Come on out and take your asswhuppin like a man.
Llpoh be like slappin’ the shit out of Star.
Classic scene, BL. I’m just watching the back and forth like a tennis match. Or ping pong tournament. I think Musk is creepy but that’s just me.
MC- Musk is a conjure and a creepy bastard. I don’t hold out a lot of hope for Tesla motorcars but I am pretty damn sure Tesla will be in the energy storage/battery business in the future.
What the fuck? “Motorcars”?
Jesus Christ, go lay down on your davenport, grandpa.
dirt- You ain’t got no class. Brits say motorcars so….blow me.
You’re no brit, you cousin-fucking Kentucky homo.
Ratdawg- I knew you were out there , stop hiding and talk to us asswipe.
Took you long enough, dumbass.
dawg- this butthurt thing needs to stop, we need you here on the late shift if you can get your feewings in check.
Toast is part of a healthy breakfast. Oh, sorry, I was out taking a victory lap and forgot to come fight. Let me take a moment and tie one hand behind my back. Okay I’m ready now, let’s go. You were correct, the SEC filed charges against him. That lasted about 24 hours. Yawn. Eric is correct, 20 million is change in his couch cushions. He is still on the board, by the way, he just has to step down as chairman within 90 days. Tesla is over the hump. Seeking Alpha, pretty much the command center for anti Tesla bias, flip flopped today, and decided maybe Tesla is the monster I’ve been telling you they are. Use caution, Llpoh. Handsome devil like you would look awful with bus tracks all across your back. Wait till they disclose their financials at the end of the month. They’re going to go from grossing 4 billion last quarter to 5 billion this quarter, and bank a profit with nothing but green grass ahead of them. 10 billion in debt might seem like a lot for a company with a 10 billion dollar gross (2017). Starts to look a lot better when a company grosses 20 billion. The model 3 is currently the best selling car in America in terms of gross dollar sales. They are crushing the competition. https://seekingalpha.com/article/4209700-tesla-different-now
Well, star old buddy, the way I see it I am batting 1000, and you are trying to hit with a flyswatter. If you have not noticed, I am doing pretty well with my forecasts. You, not so much.
Who cares about gross sales? Not me. Net profit is what matters. And so far, there is not much of that to be seen. Plus the debt has to be rolled over soon. Wonder if there are still takers?
And do not forget the private lawsuits. Man, I am expecting those to hurt. Bigly.
And when is he gonna start shipping those low dollar Series 3s? Umm, maybe never. Cause if he is not turning a profit on the high dollar ones, the low dollar ones will be a black hole. Edit: I see he is not even trying to make them anymore. He has upped the price to $40k, and he will not make those either.
You talk like billions of dollars in auto sales is real money. It is pissant nickel and dime stuff. And like I have said, here come the big boys, who actually offer stuff like spare parts, after warranty service, spare parts at somewhat reasonable cost, etc. As time goes by, that shit is gonna kill Tesla.
Oh boy, I can hardly wait. I am a fucking soothesayer, and I can see the writing on the wall.
Tesla is toast!
You need to get on the reality bandwagon.
” Last chance boys, buy the fucking dip.” Starfck Sept 28, 2018
Last chance, boys, flush your money!
You bought any stock yet? You know, money where your mouth is?
Don’t. Just. Don’t.
They go about 800 miles east and they’re stepping in your yard.
Certainty won’t affect me or most of the other readers here. Only suckers with more money than sense would buy a Tesla. We can only hope they suffer numerous, expensive breakdowns. After all, they can afford it.
I drove the Chevy Volt: super fast, incredible mileage, and it was fun to drive. It also costs one hell of a lot less than a Tesla. Aaaannnnnddddd………Chevrolet actually services the car and you can trade them in on a regular engine car. Why didn’t I buy one? The back seat is awful. I have dogs and there is no way those 2 bucket seats in the rear work for puppies. Otherwise, I’d have added a 220 plug in and had some fun.
OZ goal is to jointly own the cars so they maintain all control just kike fakebook owns everything you post. You freely give up your rights you are a fool. They will track every5ing in the car and where it goes and can shut it down when you dont pay your taxes etc. Its all about total control bynthese democrat socialist nazis.
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http://mileswmathis.com/musk.pdf
Pi = 4