I don’t know what it is with Billionaire worshippers. Maybe it’s a “hey, he grew up ‘poor’ so I can make it too” thing I had a friend tell me that Jeff Bezos was born to a 17-year old mother and struggled in his youth and worked at McDonald’s. He left out the part where his mother remarried when he was 4 and that his adoptive father was an Exxon executive and that he went to Princeton.
It keeps the fairy tale going about this country for a lot of people to imagine these bootstrap stories
Dude, user1500 might be Elon. Elon is a weird enough/socially awkward enough dude that I could actually see him going into random internet threads about him and white knighting for himself.
He’s not weird. Most normal people would call another person a pedophile when they...save a group of people before they could?
I’d raise again that he doesn’t get paid any money whatsoever unless the company hits certain benchmarks, but facts don’t really matter so fuck it. His compensation structure, especially compared to peers, is probably the least concerning thing about him. Also more breaking news: guy that takes all of his own money to found wildly successful company gets paid much more than the average employee. Welcome to America and capitalism.
I don't really give a fuck what a spokesperson said. Here is their SEC filing. It says he was paid 56,000 per California Minimum wage laws. I'm well aware of his pay structure, I've posted about it ITT. It still doesn't mean he comes off like an entitled bitch. Fuck, he's crying about govt handouts and his rocket company wouldn't even been in business w/out a govt check https://ir.tesla.com/static-files/dc39dc01-6407-4bbc-aa58-d53a51ba2612
https://www.cnbc.com/amp/2020/08/11...h-a-record-517-miles-of-range-per-charge.html This is a dope car but it's gonna be expensive as fuck
Its mainly a conservative ideology, especially if they don't originally come from money. Someone in a similar economic situation rose above to become rich and powerful, therefore, I too can do it. Kinda like space and its infinite-ness Lots of people cant really fathom what Bezos and his 100 billion dollars are. They also fail to realize that these people have 0 in common with 99% of Americans and live in their own bubble. I criticize billionaires for their lack of paying an appropriate tax rate and terrible wages and healthcare for their employees to conservative co workers and get asked why do I hate billionaires.
Indiginous people of Russia wrote a letter to Elon yesterday about their dealings with a Nickel company: https://cleantechnica.com/2020/08/1...genous-peoples-about-nickel-mining-pollution/ It's not behind a pay wall, but here's the first 2 paragraphs: A network of independent experts, activists, leaders, and organizations of Russian indigenous peoples has called on Tesla CEO Elon Musk to boycott a Russian mining company until it meets specific ecologically-sound conditions. The letter to Musk acknowledges that Nornickel is an international leader in nickel production but is “also a global leader in environmental pollution.” Nornickel’s smelting processes have resulted in environmental degradation on the Taimyr Peninsula, including a 20,000 ton diesel fuel spill into a river in the fragile Arctic ecosystem. “The lands of indigenous people appropriated by the company for industrial production now resemble a lunar landscape, and traditional use of these lands is no longer possible,” the letter to Musk reads.
I still can't wrap my head around Tesla's market cap being this high. The most valuable car company on the planet. Toyota sold 11 million cars last year. Tesla didn't reach 400k. Not sure they've reached 1 million in the company's history. Toyota made $70 billion profit last year. Tesla was in the red almost a billion. I think Tesla has a solid future but it being valued more than Toyota is insane imo. Gallant Knight are you still shorting it or did you take your W and leave it alone?
I shorted it on tuesday morning and took a 120% profit this morning. Only made like 6500. have dipped my toe in a few times before and gotten crushed. I moved most of the money I made on the tesla short into a joint account with my wife and that is a buy and hold account that she keeps an eye on everyday.
TLSA bulls don't value it as a car company, for starters. The thesis that a lot of people are buying into is that he's unlocked energy storage by creating his own economies of scale through the car business. I should say upfront I'm long on them and got in relatively early, but also agree its currently way overvalued. I do think its one of the few stocks that has a decent chance of getting to 1T market cap in my lifetime that (was) relatively affordable. High upside, low downside. That's probably not as true in this exact moment though given the surge.
By having battery tech figured out just as the world is starting to need it. The idea is that most everything in tech follows exponential curves -- moore's law is the classic example. Battery development hasn't and the belief is that there hasn't been a market for them. If one believes in climate change and in renewables as a necessary component, then batteries become essential. The issue is without something to stimulate demand, they simply won't be "ready" in time. Elon's idea with tesla is to create his own demand in order to spur battery development along so it can start seeing exponential improvements like you find elsewhere in tech. Since Tesla's demand is more or less proprietary, he'll be able to move faster on it than most everyone else and be the only one 'there' just as the world is starting to require such a thing. The recent run up started with the battery day rumors (broke the price barrier -- $100 per kw). At this point I think herd mentality and speculation have just taken over though.
Just seems like a lot of speculation and blind faith. Like I said earlier, I think Tesla has a solid future at this point but holy fuck at it being the 7th most valuable company in the US right now. Up 500% on the year.
they now have a solid future because they can sell stock to get cash. they announced yesterday they're going to sell 5B worth. the battery stuff is 100% bullhshit
Yea it's not like they are the only, or even the biggest player, in the battery market. CATL makes more and is valued at less than half of Tesla.
Lol. Haven’t been in here in a year and still the same people talking the same shit. Never change TMB.
this. While the most recent surge is probably a bubble, in general the multiples are far beyond a car company because it’s not just a car company but rather a well-branded platform business: 1. Car business 2. Trucking business 3. Solar business (commercial and residential) 4. Battery manufacturer (and supplier to other manufacturers) 5. Driving software/robotaxi service (potential rideshare entrant)
Why is it so difficult for you to understand that Tesla isn't just a car company. The reasons he listed off was an explanation to what Tesla is. Since you keep trying to compare it to Toyota
Toyota isn't a car company in the same way that Tesla isn't a car company. Sure, both make other things but let's not kid ourselves, they are car companies. 94% of Tesla's revenue comes from the auto side.
It is. And I'm bullish on the company. For me, I bought an early model s before all the auto-pilot stuff. I couldn't make it through a g.d. parking lot without people begging me for information. I'd sell 3 of them just trying to enter publix. No other product in my life has that been true. So I bought the stock and DCA'd into it with fun money for awhile. I think my average cost per share is a little less than $200 pre split? For me it was low downside, insane upside (relatively speaking) He could have, but didn't. All of this has been more or less laid out for years. The same argument was made when they bought solar city and his defense was 'no no, this is still actually the plan.' Tesla's an energy company selling products that utilize their energy tech. If he pulls it off, I think he'll be higher than that. He'd essentially have monopolized energy storage and distribution on a global scale -- with a space company as a major purchaser, to boot. Whether or not it should be worth that today is the bigger question. An even bigger question though is if what we're seeing in the market has anything at all to do with fundamentals, or bets on a weakened dollar and parabolic equity inflation from the fed just dumping an ungodly amount of money and loose credit on everyone. That's more in line with my view -- I think a lot of the absurdity in stocks is a variation of inflation. Lots of folks just trust Elon to deliver on the future, and TSLA is right now the only way to make that bet. I think Starlink will go bonkers once it IPOs for much of the same reason.
I get that side of it. It's been a homerun buy for you. And it is a great product. But it has a loooooooooooooooooong way to go to get to the level of the big manufacturers. Toyota outsold them 25 to 1 last year. Even with unlimited demand (which they don't have), scaling production to make 25x what they are not is going to take years/decades. Monopolized energy storage and distribution on a global scale? Sorry you're losing me there. They aren't even tops in that field right now. You act like they are the only ones making batteries and they are waiting on the world to need them. That's not the case at all.
This sounds great but it's bullshit. 94% of their revenue comes from auto. 6% comes from energy generation and storage. They may be more in the future, but they are a car company today.
I'm not acting like anything, just passing along the bet that people are making. And yeah, he's got a long way to go, which is why I fully agree with you that its insanely inflated right now. But battery manufacturers have been dropping the ball for years. Expecting them to somehow get it together after decades of sucking ass, and doing it without the benefits of the built in customer base Elon has created, seems like a stretch to me. And really, if Panasonic or someone cracks it, Elon could just buy them with his over inflated stock. I'd guess that he's got 5-10 years on everyone, and that's without knowing anything about what will be revealed at battery day.