Gawker: Tesla's Motormouth Marketer Dodged Deposit Dilemma

[stopcrazypp]

Comebacks: Tesla's Motormouth Marketer Dodged Deposit Dilemma

This article says the reason Darryl left Tesla was because: "Tesla has no factory to build the car, and no financing for it. Musk recently said that Tesla had gotten $350 million in loans from the government; in fact, it hadn't, a reality even Musk's own flack had to acknowledge. Taking deposits from customers under those circumstances in the hopes that everything will come together amounts to a fraud, Siry believed, and he wanted no part of it."

I was thinking of writing something in response in the comments, but it kind of makes some sense actually thinking about it. Unlike the Roadster, where they had private funding & a factory/contractor to build the car, they don't have the same thing with the Model S.

Is there a precedent of a company recieving deposits without being sure they can deliver (at least locked in a factory & financing)? (and the company not failing afterwards)

Edit: edited title, actually is ValleyWag not Gawker.

 

[dpeilow]

Isn't this just Gawker and their various offshoots stirring it up again? I mean, Tesla saying they are going to get the money is part of the game that needs to be played with Washington to get them to pull their fingers out. We don't know what is going to be announced in conjunction with the unveiling on March 26 or, for that matter, the reason why it was put back 21 days. I'm hoping Tesla are trying to align it with the announcement of some good news in this area.

I don't believe anyone is going to put down a deposit without knowing anything about the company or the current state of the development programme for the car. So all depositors will be taking a calculated risk. If anyone thinks "Tesla's got their $350m, that's ok then I will put down my $40k (or $5k)" on the basis of a couple of headlines...

But I do agree that it would be nice if they had some concrete production plans. I've said previously - and I'm hoping that the interest after March 26 will warrant this - that they should contract out production until such time as the factory is ready. I really want to see these cars on the road before 2011...

As for the cheap shots at Calacanis - well that tells you something about their motivation, doesn't it?

 

[Palpatine]

The Model S is really not that much different than the Roadster was in 2006.
They had a prototype Roadster that was drivable. They were promising delivery in 2007.

With the Model S they are saying late 2011 for Signature and 2012 for regular Sedans. It appears to be more realistic than with the Roadster.

At least with the Model S deposit, we all know upfront the situation with the government loans. It has been discussed enough here and on other news websites blogs.

Actually having deposits for the Model S probably helps with the "viability" portion of the govt loan application. If they can show 500 quick deposits at $40,000 each, that says a lot about the demand. $20 million also helps in terms of matching money.

I bet by March 26th that Tesla already will have 200+ deposits on the Model S.

 

[vfx]

They had a prototype Roadster that was drivable.

Actually they had two.

The Model S being shown is also supposed to be giving rides as well. If they do that, then it's one up on Fisker.

Siry can post here if he likes.

 

[doug]

Tesla's Marketing Chief Left On Moral Grounds?

Valleywag, who seems to hold some sort of grudge against Tesla, is reporting that Tesla's marketing chief Darryl Sirry left the company last December because he didn't care much for how the company was going about its business.

Not sure why Valleywag is so cynical about Tesla.

 

[Kevin Harney]

I believe that they actually have at least 2 of the sedans as well. In teaser shots we have seen 2 colors. I suppose they could have repainted it but why ? I LOVE the second color. Looks to be kind of a purplely color.

 

[Kevin Harney]

And that is NOT what Darryl said. At least in the media ....

 

[vfx]

I believe that they actually have at least 2 of the sedans as well. In teaser shots we have seen 2 colors. I suppose they could have repainted it but why ? I LOVE the second color. Looks to be kind of a purplely color.

I know the shot of the rear looks champagne colored but I believe it is the same charcoal color as the profile image. The car seems to be reflecting a (striped) white wall.

 

[stopcrazypp]

At least with the Model S deposit, we all know upfront the situation with the government loans. It has been discussed enough here and on other news websites blogs.

Actually having deposits for the Model S probably helps with the "viability" portion of the govt loan application. If they can show 500 quick deposits at $40,000 each, that says a lot about the demand. $20 million also helps in terms of matching money.

I bet by March 26th that Tesla already will have 200+ deposits on the Model S.

I understand your point, if the customers fully understand the risk and when they can expect to get their cars, I guess that isn't fraud. Elon's initial statement about the loans were kind of misleading though, so hopefully people didn't misunderstand. If Tesla didn't correct it afterwards, then it would have been fraud.

 

[graham]

Since the only deposits being taken right now are from existing Roadster customers, these early depositors will have a better idea than the general public the level of vaporware they are buying into. Once it is opened to the masses, I agree that Tesla needs to be forthright to folks the level of risk they are undertaking.

 

[graham]

The Valleywag article is starting to be picked up by other sites now.

It is a shame. The article just says "This is why he did this" -- not even the vague "Sources close to Daryl, or Tesla, or his mom" or anything. Or even my favorite "People say..." They just claim it.

Might be true, might not. But their veracity is certainly not well supported. Especially since in the same article they admit that their previous reporting on this same subject was in error. Why is this article more trustworthy? Why do other sites pick it up and blindly report it as truth?

 

[stopcrazypp]

The Valleywag article is starting to be picked up by other sites now.

That's how rumors spread. And usually as a blog they use it as an excuse to not hold any responsibility for the accuracy of their reports (usually claiming they are not "journalists" and that they aren't a news site, but a blog); most blogs post rumors and actual verified news as if they are the same thing. It's not the first time Valleywag did that to Tesla. It's obvious they have something against Tesla and they always claim to have some kind of "inside" information on Tesla.

What sites are picking it up anyways? Usually major news sources don't pick such rumors up (at least until much later), just some of the other blog sites.

 

[vfx]

Just checked Siry's blog.

About an hour ago (11:30 AM PST) he wrote "Slow news day"



:redface:

 

[JRP3]

Hmmmm...
Siry Departed Tesla On Deposit Fraud Fears | The Truth About Cars

 

[dpeilow]

TTAC really does have some dumb readers. Take this for example:

akear :
February 26th, 2009 at 6:09 pm

It is time to create a cool mock up before the next major car show. They could build the underbody from parts from HomeDepot.

At least the Volt exists. The tesla is just an vision in its owners mind. In that case potential telsa owners can go to bed tonight and dream about driving one. At least that kind of dream is free.

Nasa will have already been to the moon again by the time tesla is a viable company.

But then you get this:

tesla deathwatcher :
February 26th, 2009 at 6:51 pm

At least the Volt exists. The tesla is just an vision in its owners mind.

I never thought I’d be defending Tesla. But it’s the other way around. The Volt is still being developed. The Tesla Roadster is the car that is on the roads.

And Tesla is not a Ponzi scheme, and never has been. Tesla has been upfront about their finances. Anyone who loses a deposit with Tesla has only themselves to blame.