The 'I don't like Tesla' Thread

BerserkerCatSplat

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NTSB preliminary report is out:

https://www.ntsb.gov/investigations/...eliminary.aspx


TL;DR: Tesla's press release (as many suspected) severely downplayed Autopilot's involvement and the driver's interaction level. AP was following car ahead, car ahead changed lanes, AP accelerated straight into the barrier. Even after the Tesla employee de-energized the damaged battery, it still randomly self-ignited twice in the week following the crash.
 
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prizrak

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Interesting analysis, especially all the new EV stuff coming out in the next couple of years. Of course the best part is how fanboyish he is despite the fact that he literally lays out all the reasons why Tesla is actually fucked.
 
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prizrak

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Another day and more bad news from Tesla
https://www.carthrottle.com/post/9-of-teslas-workforce-is-being-cut-as-it-restructures-in-profitability-bid/?utm_source=carthrottle-rssfeed&utm_medium=rss
With Tesla burning through cash at astonishing rate, it has to do something to avoid running dry before the year is up. And do something it will: several weeks after reporting a colossal $710 million loss in the first quarter of 2018, it’s been announced that the Californian electric car maker will slash nine per cent of its workforce.
 

prizrak

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Probably because they have basically 0 replacement parts since they are still struggling to fill even a fraction of the pre-orders.
 

jack_christie

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Headlines about Elon taking a drag on a joint and the stock going down 8%, but the interview was wide ranging and some may find it interesting

Joe Rogan Experience #1169 - Elon Musk
[video=youtube;ycPr5-27vSI]https://www.youtube.com/watch?v=ycPr5-27vSI[/video]
 
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93Flareside

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Interesting? Elon sounded like he was hardley listening or didn’t know how to explain things. He seemed to have this weird “the world is fucked and my ideas are what will save the world. In fact they already are!” It was so weird to hear his outrageous things and the silence from Joe from disbelief.
 

Spectre

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CNBC is reporting that Elon Musk has been charged with securities fraud by the SEC; Tesla also expecting to be sued for same complaint: https://www.cnbc.com/2018/09/27/tesla-falls-4percent-on-report-elon-musk-sued-by-sec.html

[h=1]SEC charges Tesla CEO Elon Musk with fraud[/h]
  • Sources close to the company told CNBC the company was also expecting to be sued, though Tesla was not named as a defendant in the complaint.
  • In August, Musk tweeted that he was considering taking Tesla private, adding "funding secured."




Tesla tumbles after SEC announces fraud charges 2 Mins Ago | 02:35


Tesla CEO Elon Musk has been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday. Sources close to the company told CNBC the company was also expecting to be sued, though Tesla was not named as a defendant in the complaint.
Shares of the automaker fell roughly 10 percent in extended trading Thursday.
The SEC complaint alleges that Musk issued "false and misleading" statements and failed to properly notify regulators of material company events. The SEC plans to hold a press conference at 5 pm E.T.
Video and more at link, SEC press conference shortly.
 

jack_christie

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What an idiot!

Former SEC chair says Musk could be removed as CEO in civil case, go to jail if criminally charged
https://www.cnbc.com/2018/09/27/ex-s...ail-time-.html

Tesla shares drop more than 11% after SEC charges CEO Elon Musk with fraud
https://www.cnbc.com/2018/09/27/tesl...ith-fraud.html

There are also the cases being brought by the diver he defamed and insulted.
https://www.washingtonpost.com/technology/2018/09/17/elon-musk-sued-defamation-by-thai-cave-rescue-volunteer-he-called-child-rapist/
 
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Spectre

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Wait until as part of discovery for this suit the *real* financials of Tesla come to light, not just the cooked totally non-GAAP books and filings they’ve been presenting. I have long suspected that their sudden attempt to take the company private was to evade such a day of reckoning as there was no longer an Administration protecting them and private companies do not have to face SEC questioning like this.
 

jack_christie

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Dumbest part of the whole thing is he was offered a deal. Step down as chairman for two years, but can still be CEO, doesn't have to admit liability, accept a fine and add two independent directors. But that was rejected.

Because there are now charges and an investigation, it will be hard to raise money for Tesla, SpaceX etc ......
https://www.cnbc.com/2018/09/28/teslas-musk-pulled-plug-on-settlement-with-sec-at-last-minute.html

SEC says Musk chose $420 price for Tesla shares because it's a pot reference
https://www.cnbc.com/2018/09/28/sec-...reference.html
 

jack_christie

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Musk got lucky. His tweet only cost him $20m.

Musk, SEC settlement is on almost identical terms to deal he recently rejected. It will require him to neither admit nor deny guilt. It will require he step down for 3 years as Chairman (1st deal was 2). And pay $20m fine.
https://twitter.com/davidfaber
 
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prizrak

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Tesla likely to be bankrupt by 2019 http://www.thedrive.com/tech/24261/elon-musk-and-10-billion-of-debt-why-tesla-will-go-bankrupt-in-2019
Juciest detail:
The facts: Tesla is carrying $10.1 billion in debt, and Musk has to return to the capital markets by the first half of 2019 to refinance at least a portion of that. This has created excruciating pressure on the company to start turning a profit to help entice prospective financiers.

Around $230 million of that debt—in the form of a convertible bond—is due in November. That's days away. And that payment wouldn't ease the pressure. In fact, it underlines the importance of Tesla's stated goal of turning a profit in this, the 15th year of Tesla's existence. The company had a net-debt position of $9.2 billion at the end of the second quarter of 2018, rising from $8 billion at the end of the first quarter and $4.8 billion at the close of second-quarter 2017, according to investment firm Goldman Sachs. It also a $960 million bullet payment due in March.
 

Spectre

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Tesla cutting delivery staff...

https://www.cnbc.com/2019/02/09/teslas-model-3-worries-delivery-employees-said-to-be-cut.html

Tesla's delivery team said to be gutted in recent job cuts

  • The cuts could fuel investor worries that demand for the Model 3 in the United States has tailed off after a large tax break for consumers expired last year and the car remains too expensive for most consumers.
  • "There are not enough deliveries," one of the former employees told Reuters. "You don't need a team because there are not that many cars coming through."
 

Spectre

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As I've mentioned before, Consumer Reports is not to be trusted on their reviews and a lot of their recommendations in recent years are based on green wishful thinking - but damn if I am not laughing my arse off from even them getting fed up with the Tesla BS enough to get over their "ANYTHING GREEN IS GOOD" groupthink.

https://www.cnbc.com/2019/02/21/tesla-tanks-subaru-soars-in-consumer-reports-new-reliability-survey.html

Tesla shares fell after a new report, based in part on the reviews of thousands of vehicle owners, raises questions about the reliability of Tesla's Model 3. Consumer Reports says it will no longer recommend the Model 3 due to the reliability issues.

"When we look at the Model 3 lot of the issues are the electronics," said Jake Fisher, senior director of Automotive Testing at Consumer Reports. "There are some issues replacing the (navigation/infotainment) screens, for instance, but we've seen other issues in terms of the trim breaking and the glass."

Tesla shares were trading down nearly 2 percent after the report was released Thursday.

Consumer Reports recommendation of particular models is based on several factors, including the feedback of vehicle owners, crash test performance and the testing and reviews conducted by the Consumer Reports auto team. While it reached its conclusion after reading reports of Tesla owners complaining about the fit and finish of their vehicles, Fisher points out the Model 3 owned and tested by Consumer Reports had a rear window with a small stress fracture.
LOL - Remember, CR was still recommending the Model 3, until now, despite their Model 3 having an obvious and concerning problem. (If the chassis is flexing enough to crack the window, just how crash worthy is it now?)

It's fun watching green-on-green friendly fire.
 
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