his car company loses money hand over fist yet has a bigger market cap than toyota. spacex doesn't make any money either. yet somehow he is a multi billionaire.
Taking advantage of tax breaks is as American as apple pie. Creating rockets that can bring America back into the space race is of national interest and that money would have been spent on bureaucratic NASA instead and wasted billions. I don't see the grift. You nay have a Libertarian view that rubs against this but that's still no grift
at 3.9 billion EBITDA it has an 837 billion dollar market cap. Negative cashflow and negative net income until last year. Shitloads of debt. No distribution. No real factory. This is a bullshit company by any objective measure.
Spacex is private so I can't see the financials but I know that fucker is losing money too.
I gave you a link to the yahoo finance page for TSLA's financials.
The basic formula for all companies is Revenue - Costs = profits or loss. There are a lot of sub items to classify and sub classify types of revenue, types of costs, and types of net income. You can see the details on investopedia or some online accounting primers.
All of his financials up until the trailing 12 months are massive losses both on the statement of cashflow, that is cash in minus cash out, as well as his income statement which is the GAAP accounting method which looks beyond just cash for revenue and costs.
The valuation for TSLA is 822 billion on 3.8 billion of net income over the trailing 12 months. That is a price to earnings ratio of over 1,600 and a market cap that is bigger than Toyota which is at 200 billion dollar market cap company with 3-4 billion a year in revenue, sells hundreds of thousands of cars, has a distribution an dealer system in place, lots of real factories etc.
TSLA is a mirage built on the image of Elon Musk. The reality is it is a start up electric vehicle company with no distribution, barely any factories, and lots of established competitors in the space that have a much bigger R&D budget for EV and AI driven vehicles.
he gets governments and big corporations to dump money into his schemes because it's "renewable and green", then chases more grants, supplemented by private investment funds ...
The funding is a scam, but he got enough money to make it a reality, so kind of yes, but actually working ...
The Greatest African American.
He builds rockets and cars that actually work. What's the grift?
his car company loses money hand over fist yet has a bigger market cap than toyota. spacex doesn't make any money either. yet somehow he is a multi billionaire.
Taking advantage of tax breaks is as American as apple pie. Creating rockets that can bring America back into the space race is of national interest and that money would have been spent on bureaucratic NASA instead and wasted billions. I don't see the grift. You nay have a Libertarian view that rubs against this but that's still no grift
Here is a link to the financials of TSLA https://finance.yahoo.com/quote/TSLA/financials?p=TSLA
at 3.9 billion EBITDA it has an 837 billion dollar market cap. Negative cashflow and negative net income until last year. Shitloads of debt. No distribution. No real factory. This is a bullshit company by any objective measure.
Spacex is private so I can't see the financials but I know that fucker is losing money too.
I see Tesla cars all over the place. I also see his rockets going into space and landing. Where's the grift?
are you familiar with reading financial statements?
No.
I gave you a link to the yahoo finance page for TSLA's financials.
The basic formula for all companies is Revenue - Costs = profits or loss. There are a lot of sub items to classify and sub classify types of revenue, types of costs, and types of net income. You can see the details on investopedia or some online accounting primers.
All of his financials up until the trailing 12 months are massive losses both on the statement of cashflow, that is cash in minus cash out, as well as his income statement which is the GAAP accounting method which looks beyond just cash for revenue and costs.
The valuation for TSLA is 822 billion on 3.8 billion of net income over the trailing 12 months. That is a price to earnings ratio of over 1,600 and a market cap that is bigger than Toyota which is at 200 billion dollar market cap company with 3-4 billion a year in revenue, sells hundreds of thousands of cars, has a distribution an dealer system in place, lots of real factories etc.
TSLA is a mirage built on the image of Elon Musk. The reality is it is a start up electric vehicle company with no distribution, barely any factories, and lots of established competitors in the space that have a much bigger R&D budget for EV and AI driven vehicles.
Didn't he start PayPal?
Who pays for those?
No clue.
he gets governments and big corporations to dump money into his schemes because it's "renewable and green", then chases more grants, supplemented by private investment funds ... The funding is a scam, but he got enough money to make it a reality, so kind of yes, but actually working ...
Is it legal? Yep. So where's the grift?
The grift is that he's just the public face of the military. Every project he's ever been involved with has had MASSIVE tax payer backing.
Who cares?
Musk flies robots to orbit and lands them on robot ships for profit. He has my respect.
I respectfully disagree and submit one "Bill Gates."
He knows how to play the sides. I won't fault him for that. It is a dog eat shit world or something.
How about I cement your opinion instead?
A white man who built his fortune in rocket science emerges from a part of Africa where Germany was illegally funding rocketry research after WWII...
Weird.