Considering the pickup EV has been an enormous commercial flop, only selling barely a fraction of Musk’s promised 250,000 to 500,000 Cybertrucks a year, there’s a good chance Tesla is using the mercurial CEO’s other venture to boost the numbers ahead of the end of an otherwise disastrous year.
Sounds like some form of fraud.
Because it is :)
EV subsidies are going away soon, so Elons putting some money fromone pocket to the other now, but also claims the subsidies so he’s putting more money to that other pocket than he took out from the first pocket.
Space x money is coming from government contracts too, that’s an insane feedback loop of potential fraud.
SpaceX bids on services that the government puts up for offer and wins with usually the lowest bid.
What they do with that money as long as they provide the service is up to them. If they need some vehicles to haul gear, or want to provide vehicles to each employee that’s up to them.
There’s no fraud from them buying them.
Edit: also Starlink is their biggest revenue source nowadays and is profitable, they aren’t solely funded off government contracts and investors anymore.
They finally have decent revenue, a large percentage of that is consumer, but nearly half is still government contracts. It’s notoriously hard to tell what amount the company is profitable because of how they move around the amount of money they burn on R&D.
So some where around 50% of starlink, almost all of the rest of the business are relying on grants and bids.
The cybertruck is both not selling to consumers and is extremely unreliable from a maintenance standpoint. So now Elon is moving money from one business, which is still majority funded by government money, to buy shitty cars no one wants from himself. That’s not even adding in that he’s been actually buying then himself image of Tesla as fleet vehicles. Like legit BUYING his own cars as fleet vehicles cause no one else will.
It’s bad.
I mean sure, it doesn’t look great, but it’s not fraud.
SpaceX is a private company buying vehicles that regardless of how you feel about them, are capable of towing things or being gifts to employees for the work they’ve done.
SpaceX needs vehicles to tow things, and using an EV to help lower emissions would be a valid goal. They’re also an all day portable 240v power source which I’m sure there are plenty of uses for in construction.
https://www.youtube.com/watch?v=D-2rjmL8MgY
I’m not even sure if it would reach the level of fraud given they’re a private company if they just let them sit on a lot for years then sold them at a loss as a used vehicle, but I imagine that would warrant their private investors suing for some breach of duty though
Edit: Also you really need to separate sold services from government giving them money. Grants can be a different thing, but when the government pays them $100 million to launch a rocket, they get a $100 million and launch a rocket. It’s not some sort of life line or subsidy. This is in general as well for sold services/contracts, not targeted at SpaceX. SpaceX survived early on because of these, but they were still selling a service the government wanted. Also, the government is saving 10’s of billions of dollars using SpaceX vs alternatives.
It looks bad cause it is, what Musk is doing with his companies has all the look of moving money around to hide losses, it’s generally seen as a bad thing to amortize losses from one of your businesses to another (cybertruck), if shareholders cared there would be more lawsuits.
You also see this with how the businesses are being consolidated around xai. It’s a house of cards thats being held up by a government largess.
I made an edit, you might have missed about the government side, but i’ll just post it again here.
You really need to separate sold services from government giving them money. Grants can be a different thing, but when the government pays them $100 million to launch a rocket, they get a $100 million and launch a rocket. It’s not some sort of life line or subsidy. This is in general as well for sold services/contracts, not targeted at SpaceX. SpaceX survived early on because of these, but they were still selling a service the government wanted. Also, the government is saving 10’s of billions of dollars using SpaceX vs alternatives.
Nothing is being “held up by government largess” with SpaceX.
To be congratulated on the public stage by the clown running the circus, no doubt.
It’s been awhile since I took accounting, but this looks like they are setting up a transfer pricing fraud.
Ah, the AI business model…
This is how Elon will make his pay package. Buy them from himself!
He’s already done this before too. See the Boring company purchasing a bunch of cars too
But how does he sell the robots? They won’t even work lol
I failed to understand why Tesla shareholders thought that it would be a success. Everything about it is stupid. Far apart from any political situation that musk cause caused.
It made out of suspect material that is obviously going to corroded and accelerated rate thus causing them to have to do financially onerous repairs, it’s a regulatory nightmare anywhere outside of the United States, it’s demonstrably not a very good truck and thus has a very limited market, and it’s unnecessarily heavy without offering any real benefits for that weight so it has terrible range. Oh and it has a tendency to get stuck in mud any deeper than one micron. What a wonderful product, why isn’t everyone getting it?
Elon is running the biggest Ponzi in history, financing on financing and counting both as the total. Eventually he won’t be able to keep shuffling assets around and counting both, they will all collapse with nothing left and everyone will be shocked pikachu despite it being obvious.
Elon is running the biggest Ponzi in history
after Nvidia and Open AI.
Business idea. I make an ai using ai, then hord investments and use that money to invest into another ai that I have made using an ai tool. Rinse repeat
Elon is running the biggest Ponzi in history
it’s a bigger ponzi than nvidia?
how many cybertrucks are gonna be trashed in landfills, junkyards and such?
More than the quantity trashed everywhere else, most likely.
Just turn them into dumpsters. They look like it anyways. Saves them from ending up in landfill.
Straight up fraud
Unfathomable and 1000-2000 are quite different… especially when talking about 250,000
In my opinion 1 cybertruck is an unfathomable amount I guess it depends.
Wash trading at its finest.
He literally already did something like this with tesla and solar city. There was a court case and everything but musk won so it’s no suprise he’s doing it again.
60m settlement. Technically a loss, but a slap on the wrist and a drop in the bucket as far as I’m concerned so I won’t argue that it wasn’t a win.
I can’t believe this fucking court system.
https://www.pv-tech.org/delaware-judge-approves-us60m-settlement-for-tesla-shareholders-aggrieved-b/
Once you have enough money winning a court case is indistinguishable from losing one.
If the penalty for a crime is a fine it is only illegal for poor people.
once you have enough money, laws don’t apply to you anymore. You just get inconvenienced by pocket change level “fines”
Ahhh I thought he straight up got charges dismissed my bad. But yeah $60 million for elon is a slap on the wrist, or “cost of doing business”
You can find that in his couch cushions, but look before JD Vance was there.
No need to apologize. You were quite correct. Lol
Nothing is based on supply and demand anymore. The “market” no longer makes corrections. It’s all manipulatable fuckery and the elite still wants you to believe that the stock market is stable. The big bubble burst will be money, and how it’s abused/misused, not AI.
You can only manipulate for so long before the cards collapse
I do wonder if people can make direct food subscriptions with farmers and just bankrupt the entire corporate infrastructure one commodity at a time
K-shaped economy and all
They’ve made it so you will be left behind economically if you don’t slave for SP500 shares
eh, the SP500 is just the slot machine meant to real people in
real $ is on learning what individual tickers are really worth and trading on that
bubbles like this are basically just milking pensioners and whatnot who buy into the system mindlessly, when enough buy in and there’s a catalyst to get peoples eyes on the screens (imo, trump finally croaking) so they can sell into it profitability the algo’s switch to dumping, which’ll then cause mainstreet to panic sell seeing half their retirement vanish overnight
It’s more than a slot machine, it’s the primary beneficiary of all the bad fiscal policy and wealth concentration. That and real estate. All the cool kids are hoarding it! Giving them selves cool loans based off the cool valuations they cooked up. Bond market is imploding and taking cash with it. Great time to buy SPY
but…considering the state of US labor/left, realistically crashes like they’re setting up now are the plebs best bet on actually capturing some of that wealth for themselves, it’s that or you jump like a monkey (sports) or record your misery (various arts) and hope your pain/suffering is entertaining to them.
That’s a creative use for the state handout that he receives for spacex, propping up the shareholders.
Pretty sure this is illegal, you know, using one company to prop up another (the old “Enron” method)
Wish the US still I don’t know, had laws and whatnot
NVidia-OpenAI-Nvidia-OpenAI
Laws are so 2010. Get with the time, it’s all corruption and gambling now.
2010? By that point, the global financial crisis had already proven that there are no consequences for financial manipulation if you’re rich enough.
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Oh we still have laws. Elon is just part of the “in” group who the laws protect but do not bind.
Just like Madoff and SBF, he’ll only face consequences if he fucks over the wealthy
“Illegal” is only for the poors and can apply to something as simple as crossing the street
If the US tries to enforce laws against Elon, he’ll go on Twitter and starting calling for the break up of the United States like he did for the EU when they decided to enforce their laws
So the fuck what? Who cares what he says on his platform for bots, Russians, and fellow morons?
Besides the heavily armed Yall Qaeda crowd? All of their potential victims…
They can’t buy enough of these to weigh the collapsing market for them. They’ll be less than $50k.
They will a hundred percent buy them at full price, in a big money transfer from space x to Tesla so muck can get his trillion dollar payday that was voted in
Let’s remember that SpaceX gets tons of government funding. No doubt they will try to pass it off as legitimate spending.
Yup,
Its shakey, but might be in the clear because SpaceX is still private and can do whatever it likes. If they went public too, then there would be a problem I think
Private, but don’t they serve a number of government contracts?
This is basically the government bailing out Tesla directly for a shitty truck.
I think they’re going to IPO soon, so gotta get this shady shit done first.
Using government funds to buy stupid trucks
It might or it might not. Money laundering is difficult to do legally. Possible but difficult.
Anybody that even indirectly gives any resource to these companies is being had
