Originally Posted by
ThreeThreeMike
You're being too generous. It's over $10 billion, and when Sollar City is thrown in, it's a few billion more.
The outlook is bleak for those who blindly follow Musk. Their blindness, however, is easily seen in their willingness to overlook Tesla’s history of value destruction. I believe a five-year period is the most relevant to judge any company. I compiled the figures at the end of this article from figures published in Tesla’s 2Q2019 10-Q and Tesla’s 2Q2014 10-Q. The conclusion is inescapable: It’s just not working for this company. Musk is living on borrowed time
These figures are absolutely extraordinary. Tesla has issued 55.5mm shares (a 44% increase in shares outstanding over that time) and $10.7 billion of debt (a 450% increase over that time) in the past five years. Yet, Tesla lost more money on an operating basis in the second quarter of 2019 than it did in the second quarter of 2014. This is incomprehensible.
https://www.forbes.com/sites/jimcoll.../#d36a1b41dc22
It's absolutely comprehensible. Just look at "Wework" and Mr.Adam Neuman. He was backed by a banker who gave initial capital to Alibaba. And when people hit a jackpot like that, they tend to believe they are genii. They are not. And the story of Wework is the proof of that. And to this day, Neuman is considered a visionary by his fanboys.
Fellon Elon is exactly the same. Worse actually. NONE of his ventures ever made any money. (Paypal wasn't his and he walked away with a severance pay.) HE made money out of all of them, I'll give him that, but everyone who ever invested in him, and that includes the US Government, are either bankrupt or waiting for their enormous profits to materialize. Or, in case of US Government, both.
He is untouchable for now, because a lot of three-star generals and high-up politicians were involved in decisions to invest in SpaceX. The same way Neuman was untouchable for a while because he was backed by Goldman Sachs, Leeman Brothers and JP Morgan, and who wants to admit to investors they sunk billions in a blunder. But if Musk thinks it'll last, he is very wrong. His time is coming.