They have over a billion dollars in new annual debt servicing, meaning they need to make far more profits than even their best years, and that’s before we see how much the new lawsuits will cost them.

Lower headcount could buy some headroom but that’s not going to help launch new products and there’s going to be a hard time staffing. You’d have to be a hardcore Musk fan not to assume that some new random chaos will happen, and as a private company they can’t offer stock to make the deals more appealing.