Posted on 05/01/2021 8:53:19 PM PDT by SeekAndFind
The big automotive news is that Elon Musk's Tesla reported record earnings of $438 million for the past quarter. This translates to 93 cents per share on $10.39 billion in revenue. Tesla did this despite a semiconductor chip shortage that is hobbling other car companies like Ford, which had to slash vehicle production at seven plants in North America.
Some see this as proving investors right to give Tesla stock a nosebleed price-to-earnings ratio of nearly 1,700, and thus making Musk the second richest person alive if not the richest. Our betters also preach that the stock market portends the future. So it follows that electric vehicles (EVs) are the coming thing, and Musk must be a genius. Right?
Wrong.
There's much skepticism about EVs. It's not adequately reported in the news, but they have serious technical, environmental, and electrical infrastructure problems to solve before they can seriously challenge internal combustion vehicles on America's roadways. But by any measure, yes, Elon Musk certainly is a genius...but not in the way most people think. As Eric Peters writes:
It is being reported that Tesla's net "earnings" have "surged" to $438 million. What they do not report is that his includes $518 million "earned" via regulatory credits — which aren't cars. Rather, they are monies mulcted from other car companies, paid to Tesla to get "credit" for not having a sufficient number of electric cars themselves.
Peters explains the way it works in California. If a car manufacturer wish to sell internal combustion vehicles in that state, they are required to make a certain number of "zero emissions" EVs themselves. If they don't, they're forced to buy "credit" from Musk for him having made them. Peters calls this extortion. And so it is.
(Excerpt) Read more at americanthinker.com ...
Both.
RE: Both
Then the Clintons are both as well.
Heck, the Pelosi’s are as well.
IMHO, he’s likely smarter than most of of others and he DEFINITELY has more vision than the others who are, in essence, ONE TRICK PONIES.
Yes.
The assertion here is technically correct. This simply gives further credence to Musks Business Acumen. He, like Trump and many other very wealthy men, is simply taking advantage of rules and regs the idiot politicians have crafted. Politicians, who by and large are ideological idiots, craft legislation, rules, and regs, without the forethought as to what their true impact will be. They simply Virtue Signal to their constituency (aka Pander) for votes.
Leads the world with Electrical Vehicles and likely fully autopilot cars, semi trailers and pickups. Lands Boosters back at NASA and Heavy Lift First stage on a floating barge
Sold his first game in grade school, wrote mapping software in High School and created and sold PayPal while in his 20’s
Yeah, just your average IQ scammer /s
But he does not sell flamethowers
That explains one of the reasons why Musk decided to move Tesla to Texas.
He’s saved the government millions by making reusable boosters.
I think that we are on to something here....
Musk is the “Snake Oil Salesman,” that we have seen in many movies. He is the traveling salesman in “The Wizard of OZ.”
Who “becomes the wizard in the movie!”
Is he bright? Sure. Is he successful? Yes
Do we trust him or are we a wee bit suspicious of him?
NO, and, YOU BETCHA!
They tried to paint Trump into a sleaze ball corner by accusing him of shady tactics, but all he ever did was play by the rules.
Unfortunately, the rules also allow crooked politicians to become multi millionaires for basically doing nothing but talking.
All of Musk’s operations have a government subsidy component to them. Tesla and Solar City were part of the Green energy gravy train. SpaceX has huge subsidies with defense and NASA contracts. the Boring company is nothing if not a civil engineering contractor.
This is just the way Musk has chosen to shape the investments he puts his time and money into. The namesake for his car company, Nikola Tesla, was far and above the minds of anyone in his time, but he died nearly destitute with some of his most advanced ideas never realized because he didn’t understand how to capitalize on his brilliance. I don’t think that’s lost on Musk.
Setting my significant doubts about electric cars aside, I wholeheartedly thank Musk for Starlink, as I’m now in rural Idaho, with no other decent options for internet service. In hindsight I also appreciate just how lucky i was to get in on the beta test, as others are now posting online that they may not get their unit until next year.
Musk did not start Tesla or choose that name.
[Rather, they are monies mulcted from other car companies, paid to Tesla to get “credit” for not having a sufficient number of electric cars themselves.]
Interesting.
Is Peter creating a trillion dollars worth of value from his head or is he a completely retarded dumbass?
Everyone of Tesla’s competitors(save for GM) for the last 2 years qualifies for a $7500 Federal EV Tax Credit but Tesla does not. While Tesla earns less than half per EV sold in the sale of regulatory credits.
The $7500 number was not pulled out of thin air. It is roughly the amount of subsidies given to the oil industry per year divided by the number of combustion vehicles sold per year. In other words an indirect subsidy for combustion vehicles that has no end in sight. As opposed to 200k EV subsidies per automaker. Total, not per year.
The CEO of a corporation is beholden to shareholders, duty bound to endeavor for an increase in the valuation of the company. He used any tools available. The strong-arm measures were state imposed—and Tesla worked the angle to their benefit.
Windmill farm groups receive feed-in tariffs imposed upon other electrical entities, which are required to accept that source of power. Once those tariffs expire, the wind farms tend to lose maintenance or are abandoned outright.
While that is true, it doesn't change anything about my observation that Musk is mindful of, and won't follow the path, of Nikola Tesla. Musk could have invested in Fisker, or any other electric car company, or started his own, or pursued something not involving electric vehicles, but he followed the path that he followed. There is a care and consideration in the pursuits that he chooses that matches the innovation that he presents in those pursuits.
not an entrepreneur.
he is a marketing genius, imo, of a sort, using a combo of “sizzle” and “balls” to sell to emotional/luxury/eco status buyers, and the same to get redistribution of massive tax money infusions into his companies in the gov’t space from willing/corrupt politicians.
but bottom line: the gov’t is giving him the money and power to do what he wants, so blame the gov’t if you have a problem with it. he’s just running in the space the corrupt politicians give him.
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