Tesla and Uber Unlikely to Survive (Vol. 2)

[98elise]

Burwood said:

98elise said:

Burwood said:

It might help if he gave a few billion to charity like most other mega billionaires. And to Rob. It’s not about daily volume, it’s about the message it sends. Elon knows, right. I think 10% is a lot. He says 10% but will settle for 3.lol. He thinks he’s fooling everyone. And he has never paid a dime in tax and gives fk all to good causes. So he should start

He's never paid any taxes? Do you have a source for that?

He hasn't paid any income tax for the past few years, because he hasn't taken any income. That's just how income tax works.

He's certainly paid a ton of taxes though.

I don't follow the mans affairs but it's widely known he has paid nothing in the last 4-5 years. He takes out loans to fund his lifestyle. He's not breaking the law but he likes to take the piss out of many fellow billionaires who do give away vast sums. The tightest of them being Bezos. And yes giving billions to charity does make up for plenty of sins. On paper Musk is worth $300B not that he could ever actually monetise that. And he has given away absolutely zip.

So he has paid taxes, just not recently while he's not drawn an income?

Is there a source for what loans he's taken? His lifestyle seems to be spending all his waking hours at either SpaceX or Tesla. I can't see that costing him anything, and how much can you spend on your odd Sunday off?

[Smiljan]

Yes, I forgot - Saint Musk lives like a monk, gives to the poor and walks in ragged clothes as is becoming of the world's richest man. He hath no need of personal wealth.

I think one of his holiness's followers is a little deluded.

He's just said he can liquidate $20 billion instantly if his twitter poll suggests he should do so - I'm sure he could do it again and just set up a foundation to give away some money. Not in his nature though, he'd prefer to hoard it and spend his time on private jets taking the piss out of fellow billionaires.

His prerogative but don't give me this horse manure about him living like a workaholic pauper.

You be telling us next Trump actually is a genius and Bezos really does have his workers welfare at heart.

Hows the twitter poll going anyway, I've been at work all morning and haven't seen if he has to go through with the stock liquidation or not.

A photo of said man who has no time to do anything but work

Edited by Smiljan on Sunday 7th November 15:13

[TameBritishMuslim]

Smiljan said:

He's just said he can liquidate $20 billion instantly if his twitter poll suggests he should do so - I'm sure he could do it again and just set up a foundation to give away some money. Not in his nature though, he'd prefer to hoard it and spend his time on private jets taking the piss out of fellow billionaires.

I don't know much about it but I know it exists:

http://www.muskfoundation.org/

Elon Musk’s $150 million charity spending spree:

https://www.vox.com/recode/22394867/elon-musk-foun...

[FWIW]

ROFLing at your own joke makes you look like a bit of a cock.

IMO.

[98elise]

Smiljan said:

Yes, I forgot - Saint Musk lives like a monk, gives to the poor and walks in ragged clothes as is becoming of the world's richest man. He hath no need of personal wealth.

I think one of his holiness's followers is a little deluded.

He's just said he can liquidate $20 billion instantly if his twitter poll suggests he should do so - I'm sure he could do it again and just set up a foundation to give away some money. Not in his nature though, he'd prefer to hoard it and spend his time on private jets taking the piss out of fellow billionaires.

His prerogative but don't give me this horse manure about him living like a workaholic pauper.

You be telling us next Trump actually is a genius and Bezos really does have his workers welfare at heart.

Hows the twitter poll going anyway, I've been at work all morning and haven't seen if he has to go through with the stock liquidation or not.

A photo of said man who has no time to do anything but work

Edited by Smiljan on Sunday 7th November 15:13

You sound very bitter....where did Elon touch you?

[Smiljan]

98elise said:

You sound very bitter....where did Elon touch you?

Sounds like your fantasy not mine. I'll leave you to it.

[Smiljan]

Anyway turning away from my dislike of the Musk personality and back to Tesla stock



Looks like $20 billion of stock is really about to be dumped just 1 hour to go. I wonder what he's going to do with the money?

Will the stock go up or down tomorrow? Any more takers?

[RobDickinson]

People assuming he'll just throw it all onto the market Monday.?

[Smiljan]

Aren't his options due to expire meaning he'll need to do it anyway regardless of the poll Rob? I suspect the stock is so volatile, the market will react in some way regardless of whether he dumps tomorrow or over the next few months.

Lets face it, his tweets about the Hertz deal (that wasn't a deal) affected the market and that was just some text on social media too.

[Burwood]

Smiljan said:

Aren't his options due to expire meaning he'll need to do it anyway regardless of the poll Rob? I suspect the stock is so volatile, the market will react in some way regardless of whether he dumps tomorrow or over the next few months.

Lets face it, his tweets about the Hertz deal (that wasn't a deal) affected the market and that was just some text on social media too.

He has options expiring August next year. 24 million shares @6 (30B worth). His PR team have made it pretty clear he must do something. He is the poster boy of tax dodging super rich. It's a good thing if he unloads a parcel. Pays some tax and he might doll out some cash to some worthy causes. If he does it via a foundation he gets tax credits. He might even gift the shares or a lot of them to a foundation and avoid tax altogether.

[Burwood]

RobDickinson said:

People assuming he'll just throw it all onto the market Monday.?

He'll tell every one he's buying Doge Coins and send it to $1000. That aside I doubt even huge fans are happy about such public antics. The stock is as predicted, down(6%) before the open.

[hyphen]

Bezos has sold lots of Amazon stock this year, but Elon just has to involve the world into his drama

[Durzel]

If people are buying in at this level then I imagine for the most part they're FOMO'ing in without much consideration for whether the valuation is sane or anything, they just want quick gains.

Tough to feel much sympathy for the "omg Elon I just put my life savings in TSLA plzzz don't" crowd, particularly since Elon is known for these kinds of stunts.

[hyphen]

Burwood said:

He'll tell every one he's buying Doge Coins and send it to $1000. That aside I doubt even huge fans are happy about such public antics. The stock is as predicted, down(6%) before the open.

If Elon had sold 10% quietly, wouldn't it have been worse than 6% when the news became public?

[Burwood]

hyphen said:

Burwood said:

He'll tell every one he's buying Doge Coins and send it to $1000. That aside I doubt even huge fans are happy about such public antics. The stock is as predicted, down(6%) before the open.

If Elon had sold 10% quietly, wouldn't it have been worse than 6% when the news became public?

There are better ways (less volatile) but that's not achieving 'look at me'. 10% is a pretty bit wedge. Most people in his position file pre planned sales, that way they can't be accused of any impropriety around inside knowledge. 1% no one would care (even quarterly). The way he has announced it is also spooking shareholders (yet again). It's the same old 'couldn't care less' attitude which he was doing so well at curbing. He seems to get a kick out of moving markets.

[Durzel]

Burwood said:

hyphen said:

Burwood said:

He'll tell every one he's buying Doge Coins and send it to $1000. That aside I doubt even huge fans are happy about such public antics. The stock is as predicted, down(6%) before the open.

If Elon had sold 10% quietly, wouldn't it have been worse than 6% when the news became public?

There are better ways (less volatile) but that's not achieving 'look at me'. 10% is a pretty bit wedge. Most people in his position file pre planned sales, that way they can't be accused of any impropriety around inside knowledge. 1% no one would care (even quarterly). The way he has announced it is also spooking shareholders (yet again). It's the same old 'couldn't care less' attitude which he was doing so well at curbing. He seems to get a kick out of moving markets.

When you have as much money as he does, actually buying stuff with it is basically mundane.

What better way to get your kicks than moving financial markets? He has done it pretty well with crypto, multiple times (which speaks to its fragility as an actual thing, a decentralised, uncontrollable thing... that is easily manipulated and controlled by one person).

I tend to agree with those that said he was always going to do this, and it was a fairly safe bet that a vote would have gone in favour of it - since there are more people who would want to make waves than there are investors trying to cling on to their gains.

I'd suggest that investing in TSLA is probably not for the faint hearted, unless you're in it for the long haul and believe in the company. Elon has plenty of form for rash decisions (e.g. enabling BTC payments then walking it back because it "uses too much energy", like that somehow could not have been known in advance, etc) and proclamations - e.g. pointing out that the Hertz deal wasn't signed. If people are relying on him acting and saying things that only make the stock go up, I'd suggest they're being very naive.

[hyphen]

Burwood said:

He seems to get a kick out of moving markets.

I don't think he gets a kick, he tends to do it strategically and financially motivated.

Tesla needs to raise cheap cash? Announce a cybertruck so share price rises. Cybertruck not delivered? Distract with crypto tales.

[TameBritishMuslim]

hyphen said:

Burwood said:

He seems to get a kick out of moving markets.

I don't think he gets a kick, he tends to do it strategically and financially motivated.

Tesla needs to raise cheap cash? Announce a cybertruck so share price rises. Cybertruck not delivered? Distract with crypto tales.

But the share price fell 6% after the Cyber Truck was announced?

https://www.cnbc.com/2019/11/22/tesla-stock-down-6...

[Tuna]

TameBritishMuslim said:

But the share price fell 6% after the Cyber Truck was announced?

https://www.cnbc.com/2019/11/22/tesla-stock-down-6...

That the launch 'failed' doesn't mean it wasn't a wholly cynical attempt to keep true believers on board. See also the annual battery days, AI days and other promises of jam tomorrow.

In fact, making announcements before they can realistically be delivered is one of the things the Solar City trial looked at. It's quite possible Elon might have wanted to push through with his current sale of stocks before the verdict is returned on that trial.

[hyphen]

Tuna said:

In fact, making announcements before they can realistically be delivered...

Elon explained that