I guess that makes a bit more sense now..
I canāt find another newspaper thatās covered this (so sorry bout the paywall) but the title says it all really..
Investors think Muskās Tesla made another pot joke
Electric car company sold debt with a minimum investment set at $420,000
I would still personally invest in Tesla ESPECIALLY with Musk at the helm. Yes heās different, spontanous and sometimes downright troublesome but he connects with younger generations on a level that frankly, no other CEO does. The fact he has such a presence on Twitter where he can tweet stuff related to anime while also posting pictures of space exploration and receiving huge respect and admiration is brilliant and second to none.
The best part is, he doesnāt do it for attention and I donāt believe he has ever done anything as a āstuntā. Heās raw and rough around the edges and most of all, heās genuine.
A genuine person who makes screw ups who bets big and all of their personal wealth on a brighter future tells me all I need to know.
P.S Even recently he spoke to TFUE (Twitch streamer) about buying a Tesla and that interaction received millions of eyes. Young eyes, eyes like mine and others who look at a Tesla the same way some people who donāt like watches look at the Apple Watch.
I wouldnāt invest, not because of Musk, but because I canāt see the justification for them having a market cap bigger than Ford and GM who sell millions of cars per year
I think I would invest at a lower market cap (i.e. if they go down in price a bit), though itās far from a sure thing, for these reasons:
- Electric cars are the future - Tesla have a head start on batteries, charging network, software
- Self-driving cars are the future - Tesla are collecting huge amounts of data there, and the software for it
- Software will eat the world - Musk sees this, in a way that GM and Ford never will
- Robotics and additive manufacturing is going to take over - Musk sees this, in a way that GM and Ford donāt
- Theyāve bypassed dealers, will be interesting to see how that works out, but it could work well
- Musk is very good at selling a grand dream and inspiring employees to excel (even at their own personal cost), and customers to buy the dream - reminds me of Jobs in that respect
Downsides are lack of cash (probably no longer a problem), crazy experiments in manufacturing, lack of experience.
Iām not sure their current market cap is justified and was waiting for a bit more value before investing, but I do think they have the potential to grow to a very large transport company.
There is potential, But too much of it is already priced in and Iām not convinced theyāll realise all of it
They need to become one of the biggest most successful companies in the world to justify the price they are at now
Incidentally Ford reckon theyāll have 40 Hybrid or full Electric models by 2022
I would definitely like to own some shares of Tesla. I also like Elon Musk on the whole.
I, too, agree that electric cars, autonomous cars, everything Tesla does, is the future.
However, it would be a speculative position because this year was the first ever time they made a profit (I believe). Similarly, I also wouldnāt invest unless the price came down a fair bit!
Iād like to give him the benefit of the doubt but I find it hard to believe that he just made a mistake here, after some of his comments after he did the deal with the SEC maybe Iām being too cynical?
Musk Faces U.S. Contempt Claim for Violating Accord With SEC - Bloomberg
These are the tweets -
& a few hours later..
so either he made an honest mistake or his lawyers checked the tweets after the fact & told him they werenāt ok.
Side note - itās kind of crazy how long this threadās been going, this seems to be happening a lot!
That episode of Invested someone linked was really interesting. Great listen.
Edit: Misremembered the show name.
Can someone at Tesla not just turn his account off?
Noo, itās far too entertaining!
But then we wouldnāt see his version of the most disturbing Teletubbies episode ever
Just put the link on a new line. Youāll then get a link preview.
Worth mentioning sometimes a link preview cannot be generated, but this is rare these days. Your link is okay though in my test.
Feel free to send me a message & weāll figure this out together
So Muskās response is
In his filing on Monday, Mr Musk conceded that none of his tweets since the settlement through to February had been preapproved by lawyers at Tesla. But his attorneys argued that he had the right to make his own determination about whether his tweets contained material information.
None of his tweets had risen to the level of materiality, and therefore preapproval, Mr Muskās lawyers added. This included the vehicle production tweets last month, which they called āshorthand gloss on and entirely consistent with prior public disclosuresā.
quotes from the FT
A Manhattan district judge will decide if Mr Musk is in contempt and whether he should be punished. The SEC said no hearing is necessary on the matter ābecause there appear to be no disputed issues of material fact.ā