Nieuws Tesla in de problemen?

Abraham54

Beheerder
Medewerker
#1


March 26, 2018
Bangkok, Thailand
Just a few days ago, shareholders of Tesla approved an almost comical pay package for their [cult leader] CEO Elon Musk that could potentially put $50 BILLION in his pocket over the next decade.
Let’s put this figure in perspective: at $5 billion per year, Musk would make more than every single CEO in the S&P 500. COMBINED.
In other words, if you add up the salaries of all the CEOs of the 500 largest companies in America, it would still be less than the $5 billion per year that Mr. Musk stands to earn.
That’s pretty astounding given that Tesla’s own 2017 4th quarter financial report (page 24) states that Elon “does not devote his full time and attention to Tesla”.
Or more importantly, that under Musk’s leadership, Tesla’s chronic financial incontinence has racked up more than $4.97 billion in operating losses for its shareholders.
Or that the company has been under SEC investigation (without bothering to disclose this fact to shareholders).
Yet they saw fit to reward him with the largest CEO pay package in the history of the world.
This is precisely the type of behavior that is only seen during periods of extreme irrationality when financial markets are at their peak… and poised for a serious correction.
I’ll close this brief letter today quoting John Thompson, Chicago-based value investor and Chief Investment Officer of Vilas Capital Management.
Thompson is one of the few hedge fund managers who has consistently outperformed the market, and his fund is betting big against Tesla. What follows are some passages about Tesla from Thompson’s recent investor updates:
I think Tesla is going to crash in the next 3-6 months. . .
. . . partially due to their incompetence in making and delivering the Model 3, partially due to falling demand for the Model S and X, partially due to the extreme valuation, partially due to their horrendous finances that will imminently require a huge capital raise, partially due to a likely downgrade of their credit rating by Moody's from B- to CCC (default likely) which should scare their parts suppliers into requiring cash on delivery (a death knell), partially due to the market's recent falling appetite for risk, and partially due to our suspicions of fraudulent accounting activities, evidenced by 85 SEC letters/investigations and two top finance people leaving in the last month. . .
Tesla, without any doubt, is on the verge of bankruptcy.
The company cannot survive the next twelve months without access to capital from Wall Street Banks or private investors.
We estimate that Tesla will need roughly $8 billion in the next 18 months to fund operating losses, capital expenditures, debts coming due, and working capital needs.
However, it appears that due to past SEC investigations and current investigations (which terrifyingly have not been disclosed by the company), it will likely be difficult for Tesla to access public markets.
According to a recent analyst report, there have been 85 SEC requests for additional information and disclosures in the last 5 years.
This compares to Ford Motor Company’s total of zero over the same time frame. This means that Tesla is pushing many, many boundaries.
When a company is under formal investigation, it is difficult, if not impossible, to raise capital from public markets as these investigations must be made public, which generally craters the equity and debt values.
Therefore, Tesla investors better hope there are a number of Greater Fools in China or elsewhere to keep the company solvent.
At some point, the music stops and there aren’t any open chairs.
No matter how good a social investment makes you feel as it is going up, extreme anger will result if most or all of your money is permanently lost, especially when it is due to false and misleading statements by senior company officers.
This is when the [Department of Justice] steps in and escorts untruthful managements to their new living quarters.
. . . As a reality check, Tesla is worth twice as much as Ford* yet Ford made 6 million cars last year at a $7.6 billion profit while Tesla made 100,000 cars at a $2 billion loss.
Further, Ford has $12 billion in cash held for "a rainy day" while Tesla will likely run out of money in the next 3 months.
. . . I have never seen anything so absurd in my career.
To your freedom,


Simon Black,
Founder, SovereignMan.com
 
#3
Veel mensen hebben het idee dat Tesla in de problemen zit alleen Elon Musk heeft andere ideeën. Hij zou geen dark humor april grap op Twitter neer zetten over Tesla die failliet gaat als het echt zo was, zegt hij zelf. Hij heeft een goed idee over hoe hij uit production hell kan komen. Dit is in mijn perspectief enkel een fase. Ik volg Tesla al een poosje lichtjes en je kan duidelijk zien dat Tesla vooruit gaat.

Dus nee, ik denk niet dat Tesla zonder geld komt te zitten dit jaar, of volgend jaar. Echter dit is hoe ik het bekijk en misschien heb ik het fout. Alleen ik denk dat als je dit short term bekijkt, je fout kijkt. Hun grootste verlies is de Giga Factory, wanneer die af is kunnen ze én sneller en goedkoper aan het werk én ze hebben die kosten niet meer. Ook hebben ze nog steeds mensen die hun willen betalen (waaronder shareholders) en de meeste publiciteit is positief. Dit zijn maar enkele dingetjes, maar er zijn meer dingen. Kijk twee onderstaande video's. :)

Enkele video's die ik dit jaar gekeken heb over Tesla...
View: https://www.youtube.com/watch?v=BHS0H5AwGjU

View: https://www.youtube.com/watch?v=n6xsjQCxQ9c
(eerste 7 minuten voldoet)
 

Abraham54

Beheerder
Medewerker
#4
Als een firma al een half jaar iedere maand roept dat volgende maand er genoeg geproduceerd zal worden - wordt die firma op een gegeven ogenblik niet meer geloofd.

Het rare met Tesla is, dat eerst het product wordt gelanceerd (Tesla S3) en daarna pas de productie lijn gebouwd wordt.
Europese autobouwers hebben de productie lijn al klaar als er een nieuwe auto wordt gelanceerd.

De Tesla S3 wordt opgebouwd uit staal en aluminium en het lasproces in de automatische productielijn is schijnbaar nog steeds niet opgelost.
Dus moet de wagen handmatig in elkaar gezet worden en dat kost tijd en levert te weinig en kost te veel.
Het gevolg is dat en er een enorme wachtlijst is ontstaan van aspirant kopers - die een eerste aanbetaling hebben moeten doen.

Ook daar zit een probleem, omdat er al genoeg zijn die de bestelling annuleren en het betaalde geld willen terughebben.

Nog wat anders: de laadpaal stations van Tesla in de USA zouden gratis blijven - binnenkort moeten de klanten gaan betalen!
 

gouwepeer

Gevestigd lid
#5
Een ander groot probleem is het stoppen van subsidies op elektrisch rijden. Zo uit mijn hoofd heeft dat in Scandinavie al geleid tot de verkoop van 0 Tesla's.
De liefde voor het millieu stopt dus zodra het geld gaat kosten.
Nou maar hopen dat de blauwe diesel landelijk ingevoerd gaat worden, dan worden in elk geval de diesels minder schadelijk.
 

Abraham54

Beheerder
Medewerker
#6
Capitalism has new rules. And they’re seriously messed up.



May 4, 2018
Laguna Beach, California
It was just a month and a half ago that Tesla approved an eye-popping long-term pay package, worth as much as $50 BILLION to founder and CEO Elon Musk.
And on Wednesday afternoon, Tesla held its first corporate earnings call since then.
You’d think that Elon would have been gracious and professional, anxious to demonstrate that the shareholders' trust in him has been well-placed.
Instead the call was filled with contempt and disrespect, with Elon outright refusing to answer questions that he deemed ‘boring’.
Bear in mind, Tesla’s financial results were gruesome; the company burned through yet another $1.1 billion in cash last quarter. That’s 70% worse than in the same period last year.
Even more problematic, Tesla is losing money at such an unexpectedly fast rate that they’ll likely run out within the next several months.
According to the Wall Street Journal’s analysis, Tesla doesn’t have enough cash to cover its basic debt payments and capital leases due within the next six months.
Needless to say, investors are worried.
The shareholders and analysts on the call kept pressing Elon to explain how the company was going to survive, and how he would turn around Tesla’s notorious production challenges.
But Elon completely dismissed any such questions as “boring”, “bonehead”, and “not cool”.
Pretty amazing.
I mean, this guy was given a potentially $50 billion compensation package just six weeks ago.
So the LEAST he could do was answer his investors’ completely reasonable questions.
But he didn’t. It’s almost as if he deliberately wanted to show as much disrespect as possible to the trust and confidence that shareholders have placed in him.
This is a pretty despicable attitude for any executive to have.
Yet this whole situation is emblematic of what I call ‘the new rules of capitalism.’
And New Rule #1 is: Businesses no longer need to make money.
Tesla is just one of a multitude of high-flying, hot-shot companies whose entire business models are based on burning through cash, managed by executives who don’t care.
WeWork, as we’ve often discussed, is an even more absurd example.
WeWork provides short-term office space to companies around the world, with a whole bunch of interesting perks (including free tequila).
For customers, it’s great. But WeWork loses tons of money providing all those great perks to its customers… which means that investors are ultimately footing the bill.
In other words, the suckers who invested in WeWork are essentially buying tequila shots for the office tenants.
Similarly, Uber continues to lose money; according to the company’s leaked financial statements, Uber lost a whopping $4.5 billion in 2017.
To put it another way, every time you take an Uber somewhere, the company is losing money… which means that the suckers who invested in Uber are subsidizing your ride.
Netflix is another perennial loser, having burned through more than $2 billion of its shareholders’ money last year in order to produce original content.
Remember that the next time you binge watch Stranger Things-- Netflix investors are heavily subsidizing your evening’s entertainment.
I read an article in the Wall Street Journal last weekend about young people in San Francisco who receive oodles of free goodies from VC-funded startups.
One guy was able to buy a small car because a car-sharing startup offered him thousands of dollars in CASH just to sign up and use the service.
Others talked about eating dozens of gourmet meals for free, courtesy of the various meal delivery startups in San Francisco who offer free meals to new customers.
Ultimately this means that the suckers who invested in those startups are buying meals, clothes, cars, and just about everything else, for freeloading consumers.
There are so many more examples-- Dropbox, Snapchat, etc.-- of companies whose sucker investors are footing the bill for consumers.
Each of these companies loses money. And it’s becoming an epidemic.
In fact, more than 20% of the companies which comprise the Russell 2000 index, and nearly 10% of companies in the S&P 500 index, burn through so much cash that they have to BORROW money just to pay INTEREST on their debts.
But under the new rules of capitalism, these losses don’t matter… because there are countless investors, funds, and bankers delighted to have the opportunity to put more capital into the business.
This isn’t normal-- it goes against the most basic laws of finance: businesses are supposed to make money for their investors, not the other way around.
Yet investors keep throwing capital into these bottomless pits… while (and this is REALLY bizarre) simultaneously showering the founders with blind admiration.
It’s incredible how much praise and esteem is hurled upon company founders who burn through their investors’ capital like a deranged financial sociopath.
Instead of being fired for incompetence, however, they’re hailed as ‘visionaries’.
These people are completely out of touch-- both the founders who treat their shareholders with such contempt, as well as the sucker investors who continue enabling this abuse.
You don’t have to be Nostradamus to recognize that some day this stupidity will end suddenly and painfully.
To your freedom,

Simon Black,
Founder, SovereignMan.com
 

Rubensky

Moderator
Medewerker
#7
In Nederland hebben we natuurlijk ook soortgelijke problemen. De subsidie stopt. Er zijn jaren geweest dat ze geen wegenbelasting hoefde te betalen. Dat vind ik vreemd want ze rijden op dezelfde weg dus die weg moet onderhouden worden.

Daarnaast is er subsidie voor de zakelijke Tesla rijders, maar waarom dan niet voor de particuliere?

Dan hebben we nog een andere probleem de accu van een Tesla is na het rijden van 500km leeg. Dat levert voor veel mensen problemen op. Daarnaast zijn er te weinig laadpalen waardoor je voor het opladen moet omrijden, dan is het voordeel wel een beetje weg.

Als laatste zijn Tesla's natuurlijk gewoon te duur. Gemiddeld kosten ze een ton. Dat is veel te veel voor de gewone man.
 

Rubensky

Moderator
Medewerker
#9
Accu's dat is ook hetgeen waar men al jaren op een echt grote doorbraak wacht.
 
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