September 14, 2016
Without Elon Musk, how will TEDism continue?
I’m gonna be happy to see this haughty prick Elon Musk (TEDx’ answer to Pepe) go down like one of his fail rockets.
President Trump isn’t going to be writing any taxpayer-funded checks to this fraud.
Tesla’s Elon Musk doesn’t impress Jim Chanos.
Chanos, the short-seller known for successfully betting against Enron before it collapsed, said he is now even more convinced that Tesla stock will fall, as its CEO Musk attempts to buy SolarCity.
Presenting his best investment idea Tuesday at the CNBC Institutional Investor Delivering Alpha conference, the Kynikos Associates hedge fund manager reiterated his short bet against Tesla, which he first disclosed in May. Since then, he had compared Tesla to Valeant Pharmaceuticals before the drug company’s epic 90% fall, and in June panned Musk’s plan to acquire SolarCity as a “shameful example of corporate governance at its worst.”
Chanos now says he was too kind.
New information that Tesla disclosed recently helped him understand “just how crazy this merger is and the damage it’s going to do to shareholders,” Chanos said. Tesla’s stock was trading down about 1.5% early Tuesday afternoon.
The crux of Chanos’ argument is the steep need for capital that both Tesla and SolarCity currently have—both companies are dealing with a cash crunch, and have announced plans to raise additional money later this year. Together, the companies are burning through about $1 billion per quarter and “will constantly need access to capital markets,” Chanos said. “And when you need that amount of money just to run your business model, you put yourself at risk.”
To illustrate that risk, Chanos pointed to a section of a recent Tesla securities disclosure, in which it says that SolarCity approached it asking for a short-term loan—but Tesla’s board said no, and sent SolarCity to borrow elsewhere. Chanos’ point: If SolarCity can’t even get financing from its sister-and-soon-to-be-parent company, who else would loan it any money?
The deal between the two companies, “to in effect bail out the shareholders of SolarCity,” Chanos said, “Strikes us as just the height of folly.”
What a pathetic failure this Elon Musk is.
There is nothing that makes me sicker than the way he is promoted as some sort of modern Renaissance Man by the tricky kike media apparatus. He has literally done nothing in his life but fail, and been continually propped-up.
He lucked out on a PayPal merger. That is all he did. Then he got fired as CEO for attempting to replace the UNIX system that runs PayPal with MS Windows! That proposal must have been the result of some kind of backroom dirty dealings, as there is no way even a dumbass could think that made sense.
His explanation for getting replaced with Peter Theil was that it was due to philosophical differences and that Theil was against humanity itself: “Peter’s philosophy is pretty odd. It’s not normal. He’s a contrarian from an investing standpoint and thinks a lot about the singularity. I’m much less excited about that. I’m pro-human.”
Since then, his life has been failure after failure after failure.
I eagerly await his total demise. He will eventually be forced to go work in Saudi Arabia or Dubai, the plaything of some Arab monkey.
Related: Elon Musk is an Obvious Fraud