Tag: Elon Musk is a fraud

“You’re A F*cking Idiot!”: Shocking Tesla Expose Reveals The Horror Of Working For A “Depressed” And “Angry” Elon Musk

Wired has published a stunning longform expose on what it has been like to work for Tesla over the last few years. The piece dives into life at the company’s Nevada Gigafactory and the seemingly abusive management style of CEO Elon Musk.

The piece opens with a story about an engineer at the company’s Nevada plant who “had been living out of a suitcase, putting in 13-hour days, seven days a week,” and who one day was excited to hear that Elon Musk himself needed his help on the production line. When the engineer was asked about one of the mechanized modules on the company‘s production line, instead of Elon seeking his assistance, he was berated and fired within a minute.

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“Hey, buddy, this doesn’t work!” Musk shouted at the engineer, according to someone who heard the conversation. “Did you do this?”

“You mean, program the robot?” the engineer said. “Or design that tool?”

“Did you fucking do this?” Musk asked him.

“I’m not sure what you’re referring to?” the engineer replied apologetically.

“You’re a fucking idiot!” Musk shouted back. “Get the fuck out and don’t come back!”

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Boasting about how many hours you work is a sign of failure

Via Quartz

Talking about how many hours you work is not impressive. Far from being an indication of industrious achievements or alpha status, it should be seen as a professionally embarrassing sign that, quite frankly, you have nothing else to boast about.

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How’s this for crazy: Tesla is still worth more than HONDA

Guest Post by Simon Black

Earlier this year I quoted Chicago-based hedge fund manager John Thompson of Vilas Capital Management– who has been incredibly vocal (and blunt) about Tesla.

Back in March, Thompson said that he thinks Tesla is going to crash . . .

“. . .partially due to their incompetence in making and delivering the Model 3, partially due to falling demand for the Model S and X, partially due to the extreme valuation, partially due to their horrendous finances that will imminently require a huge capital raise. . . and partially due to our suspicions of fraudulent accounting activities. . .”

This morning Thompson released his latest investor update, slamming Tesla once again in hilarious prose:

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Tesla Tumbles To Post-Tweet Lows As Uncertainty Explodes

Via ZeroHedge

Tesla has not been this much more volatile than the NASDAQ in almost five years (seven times more volatile) as Elon Musk’s recent mocking of the SEC has sparked yet more selling this morning – this put Tesla stock back near its lowest since April…

Shares are tumbling once again following questions this weekend about Tesla’s safety record…

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$20 Million Isn’t Much

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.

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As Tesla struggles to exit ‘production hell,’ buyers complain of delivery limbo

Via The LA Times

There’s no doubt in Richard Lam’s mind: When he takes the wheel of his Tesla Model 3, he’ll be thrilled with it. “I hear that owners, once they get their cars, are very happy,” said Lam, 31, an electrical engineer from Diamond Bar.

Getting it is the problem. Lam has been waiting more than two months. He’s already paid Tesla for the highest-end Model 3 available, which costs $79,500. He’s paying principal and interest on his loan. But for now he’s left driving a 1999 Mustang, a loaner from his brother.

“I’m not very happy with the current situation,” he said.

He’s not alone. Complaints about Tesla taking people’s money while they wait weeks for the cars, often with no firm delivery dates, are all over Twitter, Facebook and the Tesla Motors Club user forum. Owners who try to contact delivery representatives say voicemail boxes are full, and calling around to different Tesla numbers yields conflicting information.

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Tesla’s Death Dive

Guest Post by Eric Peters

It is beginning.

Actually, it’s been happening for a long time – like a slowly metastasizing cancer. The afflicted can no longer hide the underlying disease.

Tesla is dying.

Elon is panicking – and executives are bailing. Yesterday, the company’s chief accounting officer, Dave Morton, resigned less than a month after taking the job. What do you imagine he . . . took account of?

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Tesla Tumbles After Chief Accounting Officer Quits After Just One Month

Via ZeroHedge

Update: it’s just getting ugly in Freemont.

TESLA’S CHIEF PEOPLE OFFICER GABY TOLEDANO TO LEAVE CO – CNBC, CITING REPORT

* * *

Easy come, easy go.

Just hours after Elon Musk appeared on a comedy podcast, where he smoked pot, demonstrated his flamethrower and mused philosophically, Tesla’s chief accounting officer unexpectedly gave notice he’s resigning just one month into the job, citing the level of scrutiny on the electric-car maker.

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Tesla stock soars on news they ‘only’ lost $717 million

Guest Post by Simon Black

Sometimes I feel like I’m living in an alternate universe… it’s like the financial version of the ‘upside down’ from Stranger Things.

Case in point: last night the infamously loss-making electric car maker Tesla announced its quarterly earnings.

As usual, the numbers were gruesome. Tesla’s net loss was TWICE AS BAD as the previous quarter, a record NEGATIVE $717 million. That’s a LOT WORSE than analysts were expecting.

After adjusting for various capital investments, Tesla’s total cash burn for the quarter was MINUS $740 million… which is a bit better than what analysts were expecting. Congratulations.

Oh yeah, and Tesla ~~cult leader~~ CEO Elon Musk mustered an apology to all the analysts he insulted on the previous quarter’s earnings call (where he derided them for asking “boring” and “bonehead” questions).

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Tesla Posts Record Loss – and Stock Price Goes up!

Guest Post by Eric Peters

Elon Musk’s crony capitalist con operation just posted its biggest loss to date – $430 million in three months – but Tesla stock prices climbed 10 percent after the announcement.

What to make of this?

It’s like being in a nursing home, beside the bed of your blind, dementia-addled 94-year-old grandmother and the doctor just told you she probably hasn’t got much time left – but you decide to go out and buy her a new car.

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Questions I’d be Asking If I Owned Tesla Stock

Guest Post by Vitaliy Katsenelson

Here’s a big question I’d be asking if I owned Tesla stock: What happened to 345,000 reservations?

When Tesla’s Model 3 was released, it was supposed to be a $35,000 car. Four hundred thousand people, including yours truly, put down a $1,000 deposit to reserve their spots in line so they could get their hands on that marvel as soon as it became available. It was a brilliant move by Tesla, as it provided the company $400 million of interest-free financing — the biggest crowdfunding project ever.

Today, after some delays, the Model 3 is being produced. However, $35,000 seems to have been a fiction of CEO Elon Musk’s imagination. Though the car is getting great reviews from auto critics, the price for a bare-bones Model 3 starts at $49,000, and the tax incentives are fading away.

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MUSK UNHINGED

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Elon Needs More Money (Again)

Guest Post by Eric Peters

Last month, I wrote about Tesla CEO Elon Musk’s contemptuous and breezy dismissal of questions asked by financial analysts about the cashflow situation at Tesla. Would the company need yet another infusion of money to remain afloat? Lame! Next question.

That was Musk’s response.

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It’s nearly time for Tesla’s board to move on Elon Musk

Via Marketwatch

Click to visit the TBP Store for Great TBP Merchandise

What’s wrong with Elon Musk?

And where is Tesla’s board of directors, as the antics of its CEO escalate, as Tesla’s stock price falls, and as the progress of the company’s efforts to manufacture more than a few of the 400,000-plus Model 3 electric cars that customers have ordered ebbs and flows?

We know where Musk is. The going gets tough, and he goes to get tough — on Twitter TWTR, +0.30%

Musk has always been … different. But since Tesla’s TSLA, +0.21% first-quarter conference call, where he dismissed “boring” questions about operations and capital requirements, it has gone to another level. Most recently, his Twitter feed has looked worthy of Silicon Valley whipping boy Donald Trump, with a half-baked distraction about creating a Web site to rate media outlets.

“Anytime anyone criticizes the media, the media shrieks ‘You’re just like Trump!,’ ” Musk tweets, complete with Trumpian grammar.

“Why do you think he got elected in the first place? Because no ones believes you any more.”

That’s nice, Elon. How did that tweet help you make cars?

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Elon’s Undoing

Guest Post by Eric Peters

The death of the perpetually tardy Model 3 may ultimately have less to do with it being an overpriced electric car than with something even more lethal to its chances . . .

It’s a too-small sedan.

Electric or not, they aren’t selling. Even the Toyota Camry and Honda Accord – both of them just redesigned – are experiencing sales dips. If these formerly perennial hot-sellers are in trouble, it’s a clue that something is seriously awry with this kind of car rather than any particular car.

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All Fired Up . . . Again

Guest Post by Eric Peters

Another Tesla has crashed – and burned.

And, killed.

Two Florida teens lost their lives on May 9 when the Model S they were traveling in erupted into flames after striking a concrete barrier. As in previous incidents – at least three others – a large portion of the car was quickly and almost completely consumed before the fire was put out.

Since Teslas are electric cars and don’t burn gas, this one wasn’t burned to a cinder by gasoline.

It was the lithium-ion battery pack that caught fire.

This happens when the physical structure of the battery pack is compromised and the materials within come into uncontrolled contact. Just the same as exposing gasoline to an ignition source. It can happen as the result of a design defect, or an impact such as an accident.

What’s not the same is the way electric car battery packs are shaped – and where they’re installed in the car.

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