Weird to do that ultra publicly, rather than in a board meeting…
Comment on Elon Musk demands another huge payday from Tesla
Bishma@discuss.tchncs.de 11 months ago
I’m sure Tesla’s investors have a constant fear the stock market will figure out Tesla is a car company and start to value it as such (instead of valuing it more like Google or Apple). He’s basically saying, “If you don’t want to loose 2/3rds of what you have locked up in the company, you’ll give me 12% to continue the pivot.”
Sadly, I’m guessing it’ll work.
Wrench@lemmy.world 11 months ago
Bishma@discuss.tchncs.de 11 months ago
For Elon “Funding Secured” Musk it is the opposite of weird.
Wrench@lemmy.world 11 months ago
Yep. It’s a very transparent extortion. “I will intentionally (illegally) manipulate the stock to tank it if you do not give into my demands”
Obviously, being forced to buy Twitter wasn’t enough punishment for him to stop him from blatantly manipulating stocks.
Ross_audio@lemmy.world 11 months ago
They value Tesla as a battery manufacturer. I’m not saying that’s right but they’re hoping other manufacturers will end up using their batteries just like every phone uses Samsung’s screens.
I think Tesla has a small lead but is going to be quickly out-developed.
The self driving stuff has always been fluff. The gigafactory not so much.
dragontamer@lemmy.world 11 months ago
Which is funny, because Tesla has no chemistry chops at all. Tesla buys Panasonic cells and CATL cells.
Yes, Tesla is technically a battery manufacturer because they take individual cells from CATL and then add electronics to them. (A package of cells is called a “battery” in the Electrical Engineering world). But its not the battery people “care” about when talking about this subject.
The “cell” (aka: the chemical package of size 18650 or 4680 or whatever) is Panasonic or CATL. Almost no Tesla involvement at all. This is what “common people” call the battery pack, not the giant computer system + wires that connect the cells together (which is what Electrical Engineers call the battery).
In effect, Tesla / Elon Musk is taking advantage of investor’s ignorance and its hilarious. Its been like 15 years and the investors still haven’t figured out that Tesla has no “cell manufacturing” and has basically been misleading their investors this whole time.
guacupado@lemmy.world 11 months ago
At this point Tesla is just a brand name. Mercedes is even doing better Level 3 than they are and they’re not even known for that shit.
Bishma@discuss.tchncs.de 11 months ago
Tesla’s battery business is also entirely dependent on licenses from Phillips. Tesla’s main value there is in scope of their production, the parts of which could be sold or spun out the way Ford eventually got divested from their gas production/stations.
Aztechnology@lemmy.world 11 months ago
Which is going to bite them in the ass in 3-5 years when Toyota, VW and a few others roll out the solid state batteries