Tesla

[2o6]

You know what else has a lot of surface interaction?

Actually, it doesn't.

Aside from the awkward looking front fascia, a lot of the design problems from the Multipla come from the fact it's slab sided with small wheels and a tippy stance. Even the facelift that grafted a "conventional" front fascia couldn't save it's bad deisgn bones.

[BimmerM3]

Actually, it doesn't.

Aside from the awkward looking front fascia, a lot of the design problems from the Multipla come from the fact it's slab sided with small wheels and a tippy stance. Even the facelift that grafted a "conventional" front fascia couldn't save it's bad deisgn bones.

Obviously the front fascia is the "surface interaction" I was referring to. The face lift isn't beautiful, but it still looks about 100x better. 

[2o6]

Obviously the front fascia is the "surface interaction" I was referring to. The face lift isn't beautiful, but it still looks about 100x better.

I think they both look bad, but facelift cars don't look cohesive. The Multipla is cohesively ugly.

[MrH]

They're probably going to lose $1-$1.5 billion this year.

They can't raise.  They don't have enough cash.  My puts expire January 2020.  I think they'll file earlier than that, but who knows when exactly.  They're busting out all the stops to try to prolong this.  They've rolled Solar city loans multiple times now at greater interest, they bought a trucking company with shares instead of cash, laying off people left and right, capex outlay isn't remotely sufficient to tool up for Model Y.  The announcement of the Model Y reveal caused their engineering VP to resign immediately.

The Growth Company ™ narrative is officially dead.  I think it's going to be a slow bleed out unless the SEC slaps Elon with a board and c-suite ban.  In which case, it might spiral really quick. The zealots will panic and sell if the great leader is out.

[thewizard16]

It looks better in live photos, but it suffers from the same proportional problems that make the Model X look unconvincing as an SUV - low ground clearance, and a weird stance, and a tall looking body. I think a little less wheelbase and a little more lift would make it look more like an "SUV". Right now, it looks like Ford C-Max.

The I-Pace is also unconvincing as an SUV, but it's a striking looking car.

A coworker of mine (who is a pretty serious Porsche fanatic) and I were talking about Tesla styling and he told me "the Model X looks like an old toaster". Now it's all I can see every time I look at one.

[MrH]

Bought a lot of bankruptcy puts that expire January 2020. Not where the bulk of my short position is, but if this thing went belly up and I didn't have anything more than what I put in last week I would be kicking myself.

[MrH]

Anyone reading this SEC vs Musk back and forth in the last couple of days?  This is wild.

[thewizard16]

Anyone reading this SEC vs Musk back and forth in the last couple of days?  This is wild.

It's pretty clear he doesn't enjoy the managerial tact/regulatory hoops necessary to lead a publicly traded company and whether it's ego (probably) or just sheer frustration at "the man" he's not going to be quiet like they want him to.

[12,000 RPM]

Anyone reading this SEC vs Musk back and forth in the last couple of days?  This is wild.

I didn't see anything about the shareholder lawsuit to get him to put his damn phone down. If he loses his investors shit will go down within a week

Might as well start speculating on who is going to buy Tesla. Would be great if Ford purged the Jims and managed an LBO. Dont know what kind of voting power Musk has though

[MrH]

There are 300+ civil lawsuits against Tesla and Elon I think.  That will take years and years to get through.

Basically, SEC and Elon settled after the $420 Securities fraud situation.  Part of the settlement said all tweets had to be reviewed to see if they contained material information that could reasonably affect the market.  Elon continued to tweet crazy lies.  SEC said he's in contempt of the agreement.  Elon responded with some hilariously stupid things, like he screened them himself, that it wasn't actually material, etc.

SEC wrote a response last night that just ripped Elon.  Tesla is asking for a delay to respond to the SEC, but it's a pretty clear cut violation of the settlement.  The Judge now needs to decide what to do with Elon.  SEC basically said look, we tried to put something in place that would work and he clearly does whatever he wants.  It's on you now.  There doesn't even need to be a hearing, the facts aren't really in question.

I would love nothing more than a massive fine, a gag order on Elon's Tesla account, and keep him as CEO.  Force him to have to ride this disaster into the ground.  He wants an out so he can blame the SEC for Tesla's demise.  Make him own this.

[12,000 RPM]

All sound, but I still don't see why you are taking this so personally It can't just be due to having a rough time working with Tesla.

[GoCougs]

There is some worth there in showing how utterly worthless the SEC is.

[MrH]

All sound, but I still don't see why you are taking this so personally It can't just be due to having a rough time working with Tesla.

It's not personal. Just a hobby really. Starting really getting into financial frauds because I thought they were interesting. Read about Theranos, Fyre Festival, Enron, 1MDB, etc. Tesla is the next big one, and one I've worked with. It's the craziest show on earth, unfolding in real time.

My issue with Tesla is really the misallocation of capital. Imagine if Porsche get the subsidies and investment Tesla did. We'd be so much further along with EVs. Fraud is a net loss for society because of this misallocation of capital.

This has been a wild ride though. I've found an entire community online of people from totally different backgrounds. I'm learning just as much about finance by following this crazy story as I am taking finance classes in my mba.

[giant_mtb]

https://www.reuters.com/article/us-tesla-lawsuit/tesla-elon-musk-win-dismissal-of-lawsuit-over-model-3-production-idUSKCN1R62HU

A federal judge in San Francisco dismissed for the second time a securities fraud lawsuit brought by Tesla Inc shareholders alleging that the company made misleading comments about the production status of its Model 3.

[MrH]

So it was dismissed, amended, and refiled?

One down, 300+ more to go!

SEC contempt order will have a hearing on April 4th. Should be a fun show.

[12,000 RPM]

Seems like a non story. This is more interesting (pardon TTAC's declining journalistic quality):

https://www.thetruthaboutcars.com/2019/03/the-curious-case-of-the-missing-model-3/

Seems Tesla has no problem taking money for the cheapo Model 3s, but is a little less expedient in building and delivering them (nobody has received the bottom model a month after their release and delivery dates keep getting pushed)

Bottom line everyone with money in Tesla- investors and consumers- are growing increasingly frustrated.

[Laconian]

Elon Musk, electric car pioneer, rocketship tycoon, rap artist...?

https://www.delta.com/intranetlink/servlet/IntranetLink?cmd%3Dnull%26id%3D24457E4007%26password%3D2222222222&sa=D&ust=1554055624454000&usg=AFQjCNGrPXnaB_2D-kxVU-MtA2OkdiV9rA


WTF is going on in this guy's brain? Perhaps I should short TSLA?

[MrH]

Here's a really well done documentary about the TSLAQ community and the disconnect between the bulls and bears. Only 30 minutes long, and just barely scraps the surface of a lot of what's going on on twitter.


https://www.realvision.com/tv/shows/the-big-story/videos/tesla-electric-noise

[CaminoRacer]

Elon Musk, electric car pioneer, rocketship tycoon, rap artist...?

https://www.delta.com/intranetlink/servlet/IntranetLink?cmd%3Dnull%26id%3D24457E4007%26password%3D2222222222&sa=D&ust=1554055624454000&usg=AFQjCNGrPXnaB_2D-kxVU-MtA2OkdiV9rA


WTF is going on in this guy's brain? Perhaps I should short TSLA?

Wrong link?

[Laconian]

Oops!

https://soundcloud.com/user-209448905/rip-harambe1

[giant_mtb]

Harambe...the un-funny meme that just won't go away.

[MrH]

Some tin foil hat theories:

This is Elon desperately trying to show his twitter account is just a joke!  We should never take it seriously.  That might be the stance he tries to take with the SEC.

[MrH]

Terrible delivery numbers for Q1, that are only going to get worse.  Model S & X down 44% over last quarter, and that's really the only vehicles that make any more for them.  Average sales price on the Model 3 continues to drop as the only demand left is for the short range battery packs.

And a contempt hearing for Elon today.

Stock is down nearly 11% in premarket.  I'm surprised it's not even lower.  We're approaching the margin call level though.

[Laconian]

Buy the dip! Release another Emo G single!

[MrH]

This court hearing is ridiculous.  SEC lawyers came totally unprepared

[GoCougs]

Terrible delivery numbers for Q1, that are only going to get worse.  Model S & X down 44% over last quarter, and that's really the only vehicles that make any more for them.  Average sales price on the Model 3 continues to drop as the only demand left is for the short range battery packs.

And a contempt hearing for Elon today.

Stock is down nearly 11% in premarket.  I'm surprised it's not even lower.  We're approaching the margin call level though.

And someone on the 'SPIN maintained that Model S and X deliveries were up YoY, counter to my claim...

Telsa's unsolvable problem is talent - the exec exodus is only a pretty face on it - losing and not getting good talent, esp. on the manufacturing and operations side, is the death knew..

Even when Musk gets fired, and the company is bought out, still, no one can make money selling EVs, and very few people can legit afford them...

[GoCougs]

This court hearing is ridiculous.  SEC lawyers came totally unprepared

'Tis how Madoff, Enron, etc., made out like mad. In general, the incompetence of the SEC actually provides cover, in its ability to be easily manipulated.

Also, putting an SEC lawyer making $80k up against a billionaire's legal goon squad is a bit of a joke too.

[MrH]

The judge totally punted.  Told them to come back in two weeks with an agreed upon resolution between the parties.  Sounds like Tesla and the SEC are about as divided as it gets on this issue.

I'm guessing they won't reach a resolution, in which case is the settlement agreement going to be canceled, and the $420 tweet goes to trial? 

[AutobahnSHO]

'Tis how Madoff, Enron, etc., made out like mad. In general, the incompetence of the SEC actually provides cover, in its ability to be easily manipulated.

Also, putting an SEC lawyer making $80k up against a billionaire's legal goon squad is a bit of a joke too.

Totally.
I wonder if the government shouldn't contract out the prosecution in some cases like this and let the lawyers take a cut? Doesn't seem like it could get much worse that it is now.

[93JC]

I was tempted to check out the Model 3 in the sheetmetal, but the only Tesla store here was among the ones that was shuttered. I know they had a "service centre" nearby, but it's not in the store locator on their website, so it might not be open anymore either. If not, the nearest is in Vancouver...

https://twitter.com/Model3Owners/status/1114300961684508672

Everyone,

I have volunteered for the unfortunate task to let you all now that as of today myself and all members of the Tesla Calgary Service department have been terminated effective immediately. We had no warning of this coming, and felt that we owed it to you all to let you know.

We have enjoyed meeting all of you and working with you keeping your vehicles on the road.

As a Tesla owner myself, I still look forward to seeing you all at future meets and events!

Nearest Tesla sales/service centre really is now in Vancouver, over 1,000 km away. Next closest are in Seattle, Portland and Salt Lake City.