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Tesla’s Elon Musk, SEC settle fraud charges

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  • Tesla’s Elon Musk, SEC settle fraud charges

    Musk will remain at the head of the company, but step down as chairman.

  • #2
    This is only the beginning. PS. I'm not a Eunuch Musk hater, I've actually made a nice cut when I shorted on August.

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    • #3
      Oh Musky lol He's still awesome.

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      • #4
        Musk fanbois must be seething right about now. After Steve Jobs and Elon Musk, I wonder who the next target of this cult of personality will become......

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        • #5
          He'll bounce back, he is quite brilliant and I suspect people will line up to throw money at him soon as comes up with a way to take all the over privileged prats holding back the Paris agreement to Mars.

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          • #6
            I must say I am a bit torn about Musk. I mean from all accounts spaceX seems to be a success, actually producing quality products. And then you have the likes of Tesla that have yet to produce anything of value. I mean Tesla basically lives on the hype Musk creats luring poor schmucks to invest in a sinking ship, they managed to churn out some half arsed "premium" wagons of dubious quality in low numbers. When trying to scale up to actually produce something they could make money off all the faults came to surface and it's the ordinary Joe that gets stuck with a shit product delivered years late.

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            • #7
              Originally posted by Sniffit View Post
              I must say I am a bit torn about Musk. I mean from all accounts spaceX seems to be a success, actually producing quality products. And then you have the likes of Tesla that have yet to produce anything of value. I mean Tesla basically lives on the hype Musk creats luring poor schmucks to invest in a sinking ship, they managed to churn out some half arsed "premium" wagons of dubious quality in low numbers. When trying to scale up to actually produce something they could make money off all the faults came to surface and it's the ordinary Joe that gets stuck with a shit product delivered years late.
              The best thing about Space X is that Musk doesn't have much involvement into it.
              You are generally right about Tesla.

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              • #8
                Inevitably that product leader get competition. I applaud you on your estimated timing Kalios. Timing is everything but Musk his behavior is showing he's pragmatic. When is the low?

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                • #9
                  His brilliance is the ability to milk money out of big investors. Tesla results have not delivered.

                  Never made a profit.
                  Consistently misses targets, but given a pass.
                  Lacklustre build quality.
                  Sporadic weekly build numbers reached.
                  Model 3 base price risen well above 35k
                  Only "viable" with generous eco subsidies.
                  Third party repair locked out, and boy you will need it.

                  Every time I see one of these cars, I check out the panel gaps which would make a great joke about someones mom being looser than a Tesla.

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                  • #10
                    Disagree. Model S is marvelous. Got to drive it for almost 150 miles. The coolest car I ever drove by far.

                    Coworker recently got a Model 3 after many years of owning beamers. The price was hefty but he absolutely loves it.

                    I haven’t met a single person who doesn’t like their Tesla. The fact they’ve got orders out their behind and their main problem remains fulfilling orders says all you need to know about the company and it’s future in my opinion. They make a killer product and the demand for it proves it.

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                    • #11
                      Over here a Jap one is best seller. Though they have been making stuff for decades.For instance all Caterpillar hydraulics are Japanese stamped Catepillar. They are world leaders for a while.

                      For someone who ain't done any Space or Cars he's done ok.

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                      • #12
                        We were supposed to have Musk for 80 minutes 2 years ago for business school.

                        He cancelled. I think that was his first “sleeping on the assembly line” moment.

                        Tesla is $10 billion in the hole.

                        Making a small number of high value vehicles is one thing.

                        Making half a million cheap vehicles is another.

                        It’s easy to hide an expensive battery in an expensive car.

                        It’s hard to hid an expensive battery in a cheap car.

                        It’s easy to sell dollars for 0.50c, until you run out of dollars.

                        It’s also easy to surge to 5000 Model 3 units a week when you “yo yo” numbers for financial press optics.

                        https://www.bloomberg.com/graphics/2018-tesla-tracker/

                        Model S is now 7 model years old. Which is an eternity in the luxury sedan market. And Tesla doesn’t have the cashflow to pay for major platform revamps.

                        BMW already has pure electrics and Mercedes, Audi, Porsche, and even Jaguar have pure electric product launching in the next 12 months,

                        Early bird gets the worm, second rat gets the cheese.

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                        • #13
                          Aliens.

                          They don't want him to advance the human expanse into space and found mud on him.

                          Dispatch the Astartes on the Xenos !!!

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                          • #14
                            Originally posted by Jonathan View Post
                            Disagree. Model S is marvelous. Got to drive it for almost 150 miles. The coolest car I ever drove by far.

                            Coworker recently got a Model 3 after many years of owning beamers. The price was hefty but he absolutely loves it.

                            I haven’t met a single person who doesn’t like their Tesla. The fact they’ve got orders out their behind and their main problem remains fulfilling orders says all you need to know about the company and it’s future in my opinion. They make a killer product and the demand for it proves it.
                            I still stand by the panel gap and build quality statement. People seem to tolerate this because it's a beta test and support Elon's rainbows and unicorns humanity dream.

                            You can love a flawed product. And the cars are insanely powerful.

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                            • #15
                              Originally posted by Jonathan View Post
                              Disagree. Model S is marvelous. Got to drive it for almost 150 miles. The coolest car I ever drove by far.

                              Coworker recently got a Model 3 after many years of owning beamers. The price was hefty but he absolutely loves it.

                              I haven’t met a single person who doesn’t like their Tesla. The fact they’ve got orders out their behind and their main problem remains fulfilling orders says all you need to know about the company and it’s future in my opinion. They make a killer product and the demand for it proves it.
                              While the car might be fun to drive, like Kilgor wrote, the tolerances are so great it's out of this World. no other manufacturer would accept this. Tesla does because they are Learning as they go, basically the customers of today are paying for Tesla to iron out it's kinks.

                              As for the Model 3 it's years behind schedule and they still haven't sorted out the production yet, while at the same time they are making changes to the design along the way, changes that should have been discovered in testing/on mules.

                              It's a company built on nothing but hopes and dreams.

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