Why you should NEVER believe Elon Musk! (Part 33 ⅓):
https://www.youtube.com/watch?v=YrwkNp_AOjQ&t=2m58s
[...]
>But Musk is adamant that his amazing decision making is what drives what happens at Tesla.
>It is Tesla that has lost HALF A TRILLION DOLLARS, five hundred BILLION dollars off its market cap this year.
>But Elon Musk was so proud about the money he could save Tesla in a half hour meeting.
>"Every good hour or even minute of thinking about Tesla and SpaceX has such a big effect no the company..." -Elon Musk
https://www.nasdaq.com/market-activity/stocks/tsla/historica...
>"...and that I really try to work as much as possible, you know, to the edge of sanity, basically." -Elon Musk
>Yeah, it's only because of Elon Musk's hard work that Tesla has lost over 50% of its value this year.
>"Every high quality minute of thinking is a million dollars impact on Tesla." -Elon Musk
>Oh, oh, it was so close. If he'd said that every minute he spends alive he causes a million dollars damage to Tesla's market cap.
>"I mean, there are many instances where a half-hour meeting -- I was able to improve the financial acumen of the company by $100 million in a half-hour meeting." -Elon Musk
>Let's see. Tesla's market cap is about $500 billion dollars. And it's lost about half of its value this year. Meaning that Tesla has lost some $500 BILLION DOLLARS in market cap this year.
>For perspective, that's about TWICE the market cap of Walmart.
>So let's see, $500 billion dollars in a years, there's roughly 10,000 hours in a year, so every hour this year, thanks to Musk's brilliant leadership, Teslas's lost about $50 MILLION DOLLARS of its market cap, give or take $1 million dollars, for every minutes Musk has been alive this year.
>"Every high quality minute of thinking is a million dollars impact on Tesla." -Elon Musk
>You've been watching this video for about five minutes. The time it takes Elon Musk to $5 MILLION DOLLARS OF DAMAGE to Tesla stock.
>And this might give you some insight into why buying BURNING CANCER was still more valuable to Elon Musk than Tesla stock. Damn straight!
>What he can do for Tesla, he can do for Twitter.
>Now, Elizabeth Holmes this week got sentenced to ten years in jail for lying to investors, eventually resulting in a loss of about $10 billion dollars of the market cap of the company.
>Musk has been leading Tesla to lose market value at the rate of about a Thernos EVERY WEEK!
>And I should stress, one of the reasons Holmes got off so lightly -- yes, 10 years is lightly -- is she hadn't unloaded the stock when it was massively over-valued on her false promises.
>That is, she claimed that her heart is in the right place. And that she hadn't clearly pumped the stock up and then sold loads of it.
>I mean, it's not like she promised self-driving cars that would give you 100% return on investment with zero risks.
>"You say, what would be the probable gross profits from a single robo-taxi. We think probably something on the order of about $30,000 per year, and we expect to have the first operating robo-taxis next year. With no one in them. Next year." -Elon Musk, 2019
>And that they would be ready by 2020. Then after the stock explodes in value on a promise that would make most Ponzi schemes seem believable.
>Selling some $30 BILLION DOLLARS worth of stock.
>I mean, I'm not really a stock market guy, but I think this called "Pumping and Dumping". Let me see:
https://en.wikipedia.org/wiki/Pump_and_dump
>Pumping and dumping is an ILLEGAL scheme to boost stocks and security price based on false, misleading, or greatly exaggerated statements.
>"Like the Model S and Model X, at this point, can drive autonomously with greater safety than a person, right now." -Elon Musk
>"The convoy technology, the tracking technology, this is something that we are confident we can do TODAY 10 times safer than a human driver. I WANT TO BE CLEAR, this is something we can do NOW!" -Elon Musk
>Huh. But let's leave the legality of Musk's billions on the side for a second. And for those fans adamant that Musk bought Twitter for the greater good.
>"...function of Democracy. It's important to the function of the United States. I don't care about the economics at all." -Elon Musk
>"This is not about the economics. It's about the moral good that you think it will shape..." -Sycophantic Interviewer
>Maybe now is a good time to remember that Musk spent most of the summer filing lawsuits to try and wiggle out of buying Twitter. Trying his hardest to renege on the deal.
[...]
They actually make money.
Rivian spends an incremental $3 for each $1 of revenue. Lucid spends $5. Ford admitted last year that inflation made the Mach-e unprofitable at the unit level. And none of the legacy manufacturers break out revenue and expense for their EV divisions. Go read their quarterly reports. I’ll wait. Not one of them does it.
In contrast, Tesla has 30% gross margins. Maybe Model 3 isn’t luxury, but can competitors sell a product for 30% less? Tesla can play the attrition game for a couple years if they want and just starve everyone else out.