They are. There aren't very many cars safer than Model S and X. The 3 probably very safe too even though it's a much lighter car.
Bloomberg: Elon Musk’s (Tesla's) creditors are suddenly having a serious bout of buyer’s remorse.
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Very sincere and extremely important questions asked and this deranged lunatic goes like:
Feel bad for anyone trusting him with their money.
I also loved how he downplayed the truck and said they aren't even thinking about it....yet you've started taking money?
Dude is doing that "saw a celebrity in the grocery store today" meme with his investors.
Any mention of electric "interfetence" and Snickers?
This is just factually incorrect and probably outright trolling.
I listened to the call too. Elon has been sleeping in the factory and busting his ass to get the Model 3 production ramped up and he's obviously much more tired than usual. But if you weren't paying attention or all you read is Seeking Alpha you'll think that's literally all he said this call. Which is fine, I think it's good that Elon said a few "controversial" things between the more substantive statements during the call because they need to give shorts reasons to stay short as long as possible before they drop the hammer and announce Tesla is cash-flow positive and GAAP profitable before the end of the year.
Jesus God. Unless Big Auto shoved some sort of robot tongue-eating louse down Musk's throat in his sleep that's working his mouth like a puppet, I'm pretty sure this one's all on him.
Guys, I'm sorry. I don't see questioning the business acumen of a guy who deals with pressing financial questions like this as anything but common sense. Given how hands-on Musk is with handling his businesses, it's very likely you should treat them like volatile stocks even if you don't short them. 'Cos like... that is the sort of leadership you can expect.
So outright ignoring basic financial question is 'few contraversial things'?
And him sleeping in his factory while they are still massively behind all production milestones for many deadlines is a positive thing?
If you feel it's positive, buy shares or calls.
If you feel it's negative, sell short or buy puts.
Everything else is noise. I don't care what you do. Place your bet because the die will be cast soon, probably by Q3 2018.
it was an earnings call for a 50 billion dollar company lol. There are no excuses.
It came off as more of a podcast, a weird weird podcast. Some of his tangents were nonsensical when they aren't said with the backdrop of clapping press or something. I did enjoy some of his answers but mostly the non important ones. Like when he was basically like ehh that info will leak you don't need me to tell you. Which is funny and true.
I also enjoyed his bit about "I'm not here to get you to buy buy stock" or invest or whatever. Pretty funny. Though that one is partially stupid.
I have listened to earnings calls for Tesla several years now. The analyst questions are invariably stupid or about things they have previously said they will not talk about. Like the question he cut off about conversion rate from Model 3 preorders to configured vehicles. That's a stupid question because there's only one Model 3 available to buy, rear-wheel drive with long-range battery. They haven't introduced the all-wheel drive one or the short-range battery one yet. So it's a dumb question. When all promised configurations of Model 3 are available for sale, then it's reasonable to talk about conversion rate.
The other question about capital requirements is equally stupid. It says very clearly in the earnings report how much cash they have on hand and that they also do not intend to raise additional capital from capital markets. So capital requirements is a stupid thing to ask, because the answer is very obviously that they don't need any, don't forsee the need to need any, and furthermore Elon said during the call he does not want to raise any more capital right now period.
He's also right that if you care about volatility, you shouldn't buy Tesla stock. The amount of shares shorted as a percentage of free float is actually crazy. What's interesting is that for people who have held long, TSLA has not moved much besides sideways for over a year now. There's a lot of short-term volatility predicted for the rest of 2018.
Motherfucker read the roomVery sincere and extremely important questions asked and this deranged lunatic goes like:
Feel bad for anyone trusting him with their money.
I also loved how he downplayed the truck and said they aren't even thinking about it....yet you've started taking money?
Has he drunk his own kool-aid? I don't care if you think you have enough cash on hand, don't piss off your creditors in case suddenly you find yourself needing some cash. It costs you nothing to play nice with the people who control your money, which is why I just smiled through a two hour meeting today
Musk is an ideas guy
He would be great for leading an R&D team, but he doesn't have the right mindset for manufacturing. The company is done once another major car maker starts shifting to electric more
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lmao he's such a child when it comes to questions. Idiot
He would be great for leading an R&D team, but he doesn't have the right mindset for manufacturing. The company is done once another major car maker starts shifting to electric more
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lmao he's such a child when it comes to questions. Idiot
Is this what it's like to drink the koolaid when you're in a cult? Because even if this were "true" it doesn't make any sense at all. Unless you think a CEO engaging in a personal feud with shorts is healthy, in which case I have no words.
You can't just announce to become profitable but then not answering questions how you want to reach that goal.
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That the majority of his internet fanbase like his awkward manners, when it comes to people that have the real money things are super serious.
You don't joke around when it comes to a lot of money.
The problem is that the crucial battery technology is Panasonic owned, which steady increases its production for other car manufacturers.
And now with the traditional companies like VW secure battery deals left and right, Tesla is hitting now additional problems of increasing production number growth in the near future.
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Very sincere and extremely important questions asked and this deranged lunatic goes like:
Feel bad for anyone trusting him with their money.
I also loved how he downplayed the truck and said they aren't even thinking about it....yet you've started taking money?
That's someone that shouldn't be a CEO, no matter how smart and visionary he may be.
Musk owns 27% of the company, but I'd be surprised if, after that earnings call, several members of the board haven't thought about whether they can oust him.
Is this shit real? This can't be real.Very sincere and extremely important questions asked and this deranged lunatic goes like:
Feel bad for anyone trusting him with their money.
I also loved how he downplayed the truck and said they aren't even thinking about it....yet you've started taking money?
remember that April Fools tweet about Tesla going bankrupt
I don't believe Tesla is a scam obviously but the similarity in how he answered questions and what enron's calls used to sound like is quite striking.
100%. I arrived at this conclusion indepdently but it's hard not to.
100%. I arrived at this conclusion indepdently but it's hard not to.
Musk has always needed a minder. He lies compulsively about expected dates of projects and acts like a child when questioned. That's fine if you're an engineer answering to a project manager in the bowels of the company, but it's not fine for someone talking to the press.
Pretty much. The other car companies are probably salivating for all the patents.
To make driverless cars work you need navigation of centimeter level precision. This requires next gen GPS or other satellites.
He thinks this is a competition but it really isn't when the infrastructure isn't there yet.
He thinks this is a competition but it really isn't when the infrastructure isn't there yet.
That's not how an engineer works. Don't try to call Musk's behaviour anything else than desperate because he is gonna miss all incoming milestones and deadlines.
I don't think my project manager would allow me to dodge questions like that or lie about project dates openly (I can talk about them more vagely as there may occur some issues that will change the timeline). This is more akin to that project manager dodging the question of the engineers when they ask why they are doing something so that they know the reason and can think of possible better approaches to solve the problem.
Like? The gigafactories are a mess with the worst production efficiency in the industry. And battery tech is Panasonic, which is selling their products to anyone who wants it.
Of maybe, MAYBE, you shouldn't buy shares by how 'positive' or 'negative' you feel, but with actual real information, including responsible economical information provided on an official earning call. Maybe even said information should be obtained when someone asks in said earning call, like "Where will you be in term of capital requirements?"
OH WAIT:
I believe Panasonic does the manufacturing but the cell / pack design was done by Tesla or at least it was a joint effort. Think more like Apple chips that are manufactured by Samsung. The specific tech in Tesla's batteries is not off the shelf stuff that other manufacturers can just order for their own EVs.
I'm not saying Tesla has some secret sauce that nobody can get close to but it's definitely not as easy as "lets call Panasonic and order a bunch of those Tesla batteries".
The lithium cell technology is all Panasonic.
The joint venture was about the integration of the battery pack into the car. Battery tech is dominated by the big players who invested high amount of money into it for decades. You can't leapfrog those industry power houses just because you are Musk.
The joint venture was about the integration of the battery pack into the car. Battery tech is dominated by the big players who invested high amount of money into it for decades. You can't leapfrog those industry power houses just because you are Musk.
Your quotes actually doesn't support anything.
One would only need to check Tesla's R&D investments or even dig into battery related patents. It's quite delusional to think that Tesla has industry leading know how regarding the chemistry of batteries. But selling Golden Gate Bridges is Musk's thing
? Tesla has had the best energy density to price ratio for quite awhile now. It's clear their batteries are better than other companies'.
It's annoying when you are trying to have a discussion and the other party dismisses legitimate sources by responding with clear bias and without backing their own "facts".
I'm not saying Musk personally had anything to do with the design and technology of their battery cells but Tesla's CTO JB Straubel definitely does.
Hmm sounds immature like Trump lolVery sincere and extremely important questions asked and this deranged lunatic goes like:
Feel bad for anyone trusting him with their money.
I also loved how he downplayed the truck and said they aren't even thinking about it....yet you've started taking money?
His fans thinks he designs the rockets all by himself on a notepad at Starbucks. There's an army of geniuses working for him, and they made him a billionaire.
Earnings calls are like Q&As at Comicon. You don't rely on earning calls to make decisions about a company. The questions were actually stupid and a wasted opportunity to ask better ones.
Ah yes, the latest financial information about a billion dollar company is a throwaway like a Q&A at Comic Con. How silly of these analysts for financial institutions
Ok you don't know how this works. The information is in the financial reports, not in answers to questions that may or may not be asked by investors. Yes it is like a Comicon Q&A. There is plenty of information companies don't make public, what they HAVE to report is in the financial statement. A lot of companies don't even give forecasts.
Also, how often do people here complain that companies are too beholden to shareholders interest, and here Musk says he's not interested in talking about share price or volatility and wants to talk about the manufacturing and products instead, and people whine he's not being nice to investors.
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If the questions were answered in the reports he could have politely relayed that information. If they weren't answered in the reports then I would argue that they're not stupid, since they're germane to whether the company can continue to remain solvent at the rate they're hemorrhaging money.
Sure I don't. Because answers given to investors don't ever give insightful supplemental information. They should be asking him what his favorite color is and if he ever sees himself as a mime getting out of the box he's created for himself.
It, frankly, doesn't matter if the questions are dumb or not. They indicate how groups like the RBC are regarding Musk and Tesla right now, and they don't need any reason other than "we evaluated internally that we're not interested in expanding our arrangement" if suddenly six months from now Tesla needs another $100 million
That isn't true. There is a lot of information to be gleaned from companies' earnings calls, like average selling price or how certain segments of a business are doing (for example, Apple financial reports only report total iPhone revenue, but the earnings call can tell you about specific models and average selling price).