Fall of Elon Musk, the new king of debt

[KingScorpio]

Elon musk is overworked, sick,

missed the wedding of his brother, didnt celebrate his own birthday.

tesla is in 10 billion debt, and short traders as trashing away the stocks.

additionally crypto is bubbeling the american stock market in general and its even more boubelling his once self made billionaire defining value source paypal

but thats not enoug

the concept of electric car gets increasingly insignificant the more venezualla the country with the worlds richest oil reserve collapses in its self understanding.

when venezuela collapses into countless microstates and communities that all want to sell their oil the global oilprices could collapse for decades and years.

poor elon and poor tesla.

there are many articles now about the bad situation of the south african born ceo, among others the debt king and the burned out ceo.

http://video.foxnews.com/v/5823425020001/elon-musk-opens-up-on-his-most-difficult-year

regards

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[BADecker]

Good point. However, considering who Musk is, and that he has been able to think himself into the wealth he has (or had), he just might be positioning himself in a position to capitalize on some barely-foreseen move in the oil markets that you are referring to.

[squatz1]

If you REALLY think that this is the end of Elon Musk, I don't think you really understand him nor his business philosophy at all. Elon Musk is the ONLY reason that Tesla, SpaceX, etc have survived this long. He is the only reason that the investors have stood behind him during times of missing number, no profitability, and an increasing need for more and more money which had to be burned in order to survive.

Elon has kept a car company afloat which should have died years ago.

And on the fact that he missed events and whatever -- That has nothing to do with him personally, that just has more to do with his drive to bring his companies in profitability by spending every single hour of his time at the factories to ensure that EVERYTHING is working correctly.

Elon isn't going to go out like this, he will turn Tesla around and he will bash the shorts and the media while doing it (who don't like him due to him calling them fake news, which is probably the big reason for all the negative coverage surrounding Tesla)

[KingScorpio]

If you REALLY think that this is the end of Elon Musk, I don't think you really understand him nor his business philosophy at all. Elon Musk is the ONLY reason that Tesla, SpaceX, etc have survived this long. He is the only reason that the investors have stood behind him during times of missing number, no profitability, and an increasing need for more and more money which had to be burned in order to survive.

Elon has kept a car company afloat which should have died years ago.

And on the fact that he missed events and whatever -- That has nothing to do with him personally, that just has more to do with his drive to bring his companies in profitability by spending every single hour of his time at the factories to ensure that EVERYTHING is working correctly.

Elon isn't going to go out like this, he will turn Tesla around and he will bash the shorts and the media while doing it (who don't like him due to him calling them fake news, which is probably the big reason for all the negative coverage surrounding Tesla)

lets see how far electric engines will go as soon as venezuela and vast monpoolistic behavior of the opec collapses and gasoline prices will be like 30 cents per litre again like they were 70 years ago.

musk capitalised on the stability of the western banking cartels. with that gone paypal loses a lot of value and musk a stable income source that powers him

[Isaac_Ramirez]

I agree with squatz1. Elon Musk is no ordinary guy. He's making a lot of sacrifices in his life specifically to make sure he has success in his business endeavors. People constantly seem to want to bring him down. He is literally changing the world. He's setting precedent in many different areas.

I laughed a little bit inside when I saw the title of this thread. The first thing that comes to mind when I head "the king of debt" is the US. The US owes more money to other countries than any other country in the world. They owe over 19 trillion dollars! This must be the fall of the US too, I guess.

[suchmoon]

Elon isn't going to go out like this, he will turn Tesla around and he will bash the shorts and the media while doing it (who don't like him due to him calling them fake news, which is probably the big reason for all the negative coverage surrounding Tesla)

I really hope so but I wouldn't bet on it. I got my M3 deposit back because they are unable to deliver the car by the end my current lease even though it's already 18 months later than promised. I'm sorry Elon but I'm not taking the bus for God-knows-how-long until you get your shit together. I'm just gonna get something nice that I can actually drive and you lost a sale that you pretty much had in your pocket.

There is a big difference between appeasing rich fanboys and fangirls (Model S/X) and failing horribly to deliver a mass-market model (Model 3). A regular car buyer in the US will not put up with this. And by "mass-market" they still mean BMW money, cheapest Tesla is like $50k... but now Elon's talking about $25k cars. Dude's crazy.

It's funny though how it seems to be easier to build spaceships than cars.

[crypt0j0e]

Elon Musk may be burned out but his mission is far from over. I think if he can successfully take Tesla private again it will give him some breathing room so he's not always cooped up in his office with execs trying to meet quarterly revenue targets. He needs some time for himself to recharge and once he's back at 100% he will take Tesla to the next level and pay off that debt.

[squatz1]

I got my M3 deposit back because they are unable to deliver the car by the end my current lease even though it's already 18 months later than promised. I'm sorry Elon but I'm not taking the bus for God-knows-how-long until you get your shit together. I'm just gonna get something nice that I can actually drive and you lost a sale that you pretty much had in your pocket.

See but the thing is you were able to recover your deposit I think that this is the biggest portion of this to remember. Tesla knew they weren't going to be able to keep up with production and hit the quotas needed to sell all of the cars that people put deposits on -- this was something that was known of a company which has struggled to hit deadlines for so long. Elon Musk knew this, and made it so people could get their money back -- if he didn't know this, he would have made it so that wasn't able to be recovered and you'd just have to wait for the car (plus it's providing capital to a company which needs it, another reason not to give the money back)

t's funny though how it seems to be easier to build spaceships than cars.

A lot more money from government contracts in building spaceships, eh! It's a lot easier when you have a setup money flow, rather then having to depend on people in the world to buy your product which is expensive and behind schedule.

But yeah, I think they'll turn it around. They just need time, a bit of hope, and Elon Musk.

[suchmoon]

See but the thing is you were able to recover your deposit I think that this is the biggest portion of this to remember. Tesla knew they weren't going to be able to keep up with production and hit the quotas needed to sell all of the cars that people put deposits on -- this was something that was known of a company which has struggled to hit deadlines for so long. Elon Musk knew this, and made it so people could get their money back -- if he didn't know this, he would have made it so that wasn't able to be recovered and you'd just have to wait for the car (plus it's providing capital to a company which needs it, another reason not to give the money back)

Sorry, I don't see it as a business genius move. I'm quite sure that Tesla's lawyers told Elon that taking deposits and not delivering the car would be a scam so he didn't have much of a choice. However pissing away the goodwill of hundreds of thousands of potential customers who were happy to hand him $1000 and wait a year for the car is just plain dumb. Now they've scrapped the early reservations completely - anyone can order the car with a $5000 non-refundable deposit. I hope there are no problems with demand because that latest money grab is starting to sound desperate.

[Isaac_Ramirez]

See but the thing is you were able to recover your deposit I think that this is the biggest portion of this to remember. Tesla knew they weren't going to be able to keep up with production and hit the quotas needed to sell all of the cars that people put deposits on -- this was something that was known of a company which has struggled to hit deadlines for so long. Elon Musk knew this, and made it so people could get their money back -- if he didn't know this, he would have made it so that wasn't able to be recovered and you'd just have to wait for the car (plus it's providing capital to a company which needs it, another reason not to give the money back)

Sorry, I don't see it as a business genius move. I'm quite sure that Tesla's lawyers told Elon that taking deposits and not delivering the car would be a scam so he didn't have much of a choice. However pissing away the goodwill of hundreds of thousands of potential customers who were happy to hand him $1000 and wait a year for the car is just plain dumb. Now they've scrapped the early reservations completely - anyone can order the car with a $5000 non-refundable deposit. I hope there are no problems with demand because that latest money grab is starting to sound desperate.

I'm sure it must be frustrating to be a person waiting for a car and not get it. On the other hand, I think it is very good that Elon shoots high. It's much better to set a high goal and fall short than to set a goal that's too low and stop at that. It's not like Tesla hasn't given anybody cars. They have made tens of thousands of beautiful cars. They have had some pretty lofty goals. Maybe they haven't hit all of them, but they are putting in work. I believe that that have done huge things to stimulate the electronic car market in general. Just about all car producers are coming out with electric cars too. Musk is changing the world, regardless of what criticism you have for him.

[KingScorpio]

I agree with squatz1. Elon Musk is no ordinary guy. He's making a lot of sacrifices in his life specifically to make sure he has success in his business endeavors. People constantly seem to want to bring him down. He is literally changing the world. He's setting precedent in many different areas.

I laughed a little bit inside when I saw the title of this thread. The first thing that comes to mind when I head "the king of debt" is the US. The US owes more money to other countries than any other country in the world. They owe over 19 trillion dollars! This must be the fall of the US too, I guess.

i dont think people want to bring him down i also dont want to bring him down, i support his work (idealistically)

but the question here is will he be able to deal with his new challenges?

[Togacity]

From his entrepreneurship journey so far I can say Elon Must is unpredictable.

[SimonOdell]

The world really should be trying to help Elon achieve his goals, I can't think of anyone who has pushed the state of technology further forwards single handedly, from the coming revolution in electric cars, mass production of batteries, home solar panels to cheap reusable space flight and the hyperloop, Elon is a modern day business superhero and it will be a real shame if he fails because the markets pull him down.

[raatnak]

Im pretty sure Elon will find the way to find the way out of it. I mean come on, its Elon.

[DeluxeJR]

He may have done several mistakes. However he is a genius and he has contributed a lot to the world.

[Ciscopro2000]

I like Elon and respect him tremendously.  I think he is a genius and his accomplishments speak for themselves.  But I do believe he is overworked and stressed to the max.  I hope he can stay healthy so he can continue do great work. 

[MayanPR]

This guy is in a lot of trouble now. Media also should be blamed for giving him unnecessary attention and making things worse.