Elon Musk should have considered a career as a children’s fairytale author. He would have made multiples of his current net worth selling his amazing fantasies and optioning the movie and tv series rights. He’s spent the better part of the last few years spinning fantasies as a means of addressing the growing army of analysts and truthseekers who report the facts about Tesla. He’ll say anything in an attempt to drive the stock price higher. The “funding secured” $420 buyout fraud is just the tip of the iceberg, if not wholly emblematic of Musk’s desperation to succeed.
At the shareholder’s meeting on Tuesday Musk referenced an alleged shortage of batteries that was constraining the ability to make deliveries and to bolster his claim that demand is strong. Of course, the facts say otherwise about demand (see this, for instance: Q1, April, May EU deliveries) . The battery claim will serve the purpose of Musk’s excuse for falling short of his assertion last week that Tesla “might” set a record in deliveries.
As his remedy to the battery shortage lie, Musk said: “We might get into the mining business, I don’t know, maybe a little bit at least.” In some ways, that statement is just as shocking as the “funding secured” tweet. Mining companies spend years and millions looking for mineable deposits of cobalt and lithium. Then if a company is lucky enough to find a deposit, there are several more difficulties to overcome in order to get a mine operating. Musk’s assertion minimized the cost and effort required to “get into the mining business.” He made it sound like anyone can make it happen. It’s the definition of hubris.
The “mining business” pronouncement typifies the degree to which Musk will say anything to fortify his lies – his fraudulent narrative – surrounding Tesla’s inability to execute a business model successfully. The fact that journalists, the financial media and Wall Street analysts refuse to hold Musk accountable for his chicanery enable its perpetuation. The victims are the people who die in car accidents connected to the unregulated mechanical failures with Musk’s products and the investors who are blind to his deceit. Having a car accident can be a life-altering thing, some may lose their lives, others have serious injuries or will come away with a few scratches, whichever way it goes, it has a lasting impact on the person and person around them. Some people will want to bring a lawsuit against the person/car if they were not the one who caused the accident, they will more than likely seek settlements in accident cases with their lawyer.
It’s mind-blowing to me that the Musk/Tesla faithful continue to follow him off the cliff. His track record of failure to deliver on promises is unparalleled in history. In truth, beneath the facade of fraud and fairytales, is a poorly run business operation that bleeds billions in cash and will never achieve true profitability. The Model 3 is produced in a glorified Coleman tent, for god sakes. Make no mistake, the GAAP “profits” reported in 2018 were nothing short of outright and blatant accounting deception. Anyone who still believes those numbers is living with their eyes wide shut. Anyone who takes Elon Musk at face value is either tragically naive or catastrophically stupid.
But then again, Tesla and Elon Musk is the poster-child for the degree to which the U.S. economic and political system has gone down the rabbit hole and has become an empty shell of greed-driven fraud and corruption…
He is not after any business he is after investor’s money to burn in Fremont and Shanghai. He is next call is to “solve the bottleneck in battery capacity” which impedes his production (my foot) so gimme gimme! Just like Bezos and others in this bubble pursuing ever new business towards global domination (die Gantze Welt)
The lurid tale of Meister F.Elon Musk’s Redi Kilowatt Kubelwagon will be told 1,000 years from now, warning people to beware of carney barkers promising green energy vehicular nirvana for a mere $75,000.
Just as the Brothers Grimm fairy tale of the Pied Piper of Hamelin is still repeated today as a warning to beware of mayors promising and minstrels performing while the gullible are duped and their children are led away by siren songs, the penny whistle shrieking of
Musk claiming his vision is the only way will be seen as a supernatural apparition, a vehicular poltergeist with all the sustainability of a 25 year old Yugo
Every time I see a Testa on the highway I think. You poor soul, driving a car made by a company destined for the ash heap of history.
Yes and hoping the poor soul driving that rolling stick
of dynamite does not become an ash heap.
Elon Musk’s future:
I also like this one about the idea that Bitcoin is a “safe haven”. The punchline comes in the final two seconds:
You guys still don’t understand. Tesla is too big to fail now, the current ponzi system is so streched and fragaile, that it cannot tolerate any sort of price discovery. Tesla will be bailed out overtly or covertly, or it will be outright nationalised.
Any problem will be “solved” by debt expansion/ money printing by our overlords. The cliff that you think Tesla should fall into, will be filled by the taxpayers and the the savers (through inflation).
The bankers will print until your fucking eyes bleed, and then print some more. Because they have no choice. Come on, you would to the same thing, at this point nobody would want to take the blame for popping the largert bubble in history…
If you research it, this is exactly how big civilizations collapse. It might take decades of ever faster erosion of the living standards of the avarege citizen.
There is no fixing to this, thw turning point was 1914, and the mathematical “point of no return was 1971”.