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Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
- Thread starter AudubonB
- Start date
Elon would have to pump out 4 other gigafactories to be operational within 2 years. That something possible however less probably.
I am currently reading Power Play from Tim Higgins. The chapter about how close Tesla was to failure as a start up and how they hemmorrhaged cash is making me believe in 99% of the multiverse, Tesla failed. Happy to live in the one they succeeded.
Yeah, I'm really hoping he spells out how and when he's selling to prevent chaos on Monday.He could sell the entire 10% but do it in "about two weeks" instead of now.
There were a lot of more mature ways Elon could have accomplished whatever he wanted to do than this; I'm disappointed as an investor and as someone who tries to defend Elon to the brainwashed amongst my friends and family.
He promised to be the last to sell his stock (except for taxes) so if he needs funds, he needs popular support e.g via Twitter not to seem to betray his supported.
However, the Dude must abide in the Dude's Abode, yes?
People following Tesla closely are probably the first to hear about this tweet and many of them will vote no. The mass media will now run with the news and that’s when the general public starts voting. A large part of them don’t like billionaires and will likely vote yes, so I expect that to start going up. It may end up at 60% yes and 40% no. I hope I’m wrong.
Yes, I noticed Tim Higgins is portraying Elon as rude, ankward and merciless.
He was missing the most important factor for his Musk analysis, the Asperger diagnosis.
There are some interesting timelines about the creation of the company. It is a good refresher. It is also really good book to fall asleep after 1 or 2 chapters every night going to bed. I preferred Ashlee Vance book.
StealthP3D
Well-Known Member
Selling 10% doesn't break that promise. In fact, he would still be the largest TSLA shareholder in the world.
And I'm surprised the number of people here who seem to care whether he sells 10% or not. I thought I was hanging with a more enlightened crowd.
I see a majority of Americans voting yes, internationally I’m not sure. This is far too important to be decided on Twitter.
mars_or_bust
Member
Until about a year ago I used to worry about some of Elon's tweets. In the meantime I came to realize that all the important tweets have usually a lot more analysis and long term planning than is apparent. So I am not worried at all. There are many things going on behind the scenes we have no idea about, and so far Elon seemed to always have anticipated them, or reacted to them in the right manner (well, except covid at its start, but that is another story). Right now there are momentous negotiations in the Senate (and House) regarding the 1.7 trillion dollar bid regarding not only EV support, but also tax rates for companies and individuals, and the very strong influence of the progressive wing of Democrats (the Squad, Sanders, etc) who viscerally dislike Elon. Then there is Biden himself who obeys the UAW wishes and thus wants to kill off FSD and weaken Tesla as much as possible. Many political headwinds indeed.
As a result, Elon went on a twitter campaign to discredit and mock Biden's approach (I am sure there is a lot of lobbying going on also behind the scenes), and create the narrative that any further attacks on Tesla and him are spiteful actions taken out of very selfish, and un-American, interests. I think this worked very well indeed, and the government seems to me increasingly afraid to attack Tesla frontally. (especially after the Virginia et al recent voting results, which repudiated the Biden/progressives approach to the economy and to taxation).
This move, selling of 10% of his current stock, is most likely part of this campaign. Most of the 10% he will need anyway to exercise the options for the upcoming very large stock number increase. Add he will need lots of cash to pay the banks for the loans he took (with shares as his collateral), so might as well take care of all of that in one go. And there could be ( I am sure there are) other investments he plans - fund more Neuralink for example, more cash for the Boring company, some other initiative (maybe even some cash for TITS).
So if he has to take cash in any case, then this is also a golden opportunity to do this in a way which will further weaken the negative pressure from the government on him and Tesla.
As a result, Elon went on a twitter campaign to discredit and mock Biden's approach (I am sure there is a lot of lobbying going on also behind the scenes), and create the narrative that any further attacks on Tesla and him are spiteful actions taken out of very selfish, and un-American, interests. I think this worked very well indeed, and the government seems to me increasingly afraid to attack Tesla frontally. (especially after the Virginia et al recent voting results, which repudiated the Biden/progressives approach to the economy and to taxation).
This move, selling of 10% of his current stock, is most likely part of this campaign. Most of the 10% he will need anyway to exercise the options for the upcoming very large stock number increase. Add he will need lots of cash to pay the banks for the loans he took (with shares as his collateral), so might as well take care of all of that in one go. And there could be ( I am sure there are) other investments he plans - fund more Neuralink for example, more cash for the Boring company, some other initiative (maybe even some cash for TITS).
So if he has to take cash in any case, then this is also a golden opportunity to do this in a way which will further weaken the negative pressure from the government on him and Tesla.
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StealthP3D
Well-Known Member
You do realize he's only talking about selling 10% of his shares? Who would care? Study after study has shown that insider selling has no real correlation to share price performance in the following year. If I recall, it may have a slight negative correlation which means it's a good sign for future performance (but almost insignificant).
By setting up this poll, it means that Elon has thought about it and he sees no practical difference (e.g. the positives and negatives of either balance each other out) between either one, so the poll is just free advertising to get people talking.
mars_or_bust
Member
Started listening to it, was dissapointed. Maybe it gets more thoughtful later, but Dave is making the mistake that Elon is doing this emotionally out of short-term pressure, which I am sure he is not. Reminds of Dave's position a few years ago, when he was very much in favour of Elon leaving the running of Tesla to somebody else....
mars_or_bust
Member
Dave is missing the point. This is not an Elon kneejerk emotional reaction. Paying a significant amount of taxes (which he would have to do in one way or the other anyway) is very important for defanging a lot of government level very dangerous anti Tesla and anti Elon sentiment. Also, at the end of the day, Elon IS rich, paying some taxes is OK, and the amount of taxes paid now ( I think the rate is 20% or 25% of the to be sold shares) IS a VERY small amount of his wealth.
For myself, one of the primary reasons I own Tesla is Elon’s attitude regarding selling shares. His tenacity toward any and all challenges (financial and otherwise) facing Tesla makes me an investor.
Why doesn’t Elon take this *sugar* to a shareholder vote?
The amount of mental gymnastics some of you are going through to vote yes is
Mind boggling.
We’re supposed to do the opposite of tslaq and shortseller wants.
Wishing he said.
“Sucks I have to sell 10 percent to pay taxes.. on the eve of a stock split”.
The amount of mental gymnastics some of you are going through to vote yes is
Mind boggling.
We’re supposed to do the opposite of tslaq and shortseller wants.
Wishing he said.
“Sucks I have to sell 10 percent to pay taxes.. on the eve of a stock split”.
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