Tesla Reports Losses

The electric-car maker lost $0.69 per share on an adjusted basis. This was the first earnings release since shareholders approved the electric-car maker’s acquisition of SolarCity — a $2.6 billion deal that merged the two companies CEO Elon Musk oversaw.

As Tesla continues to burn through cash and tackle competition, analysts are parsing the earnings release and call for information on how the company plans to manage its capital.

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Elon Musk’s Martian Waterpark

In case you haven’t heard, Elon Musk is very rich. As someone who grew up in the Hamptons, I know that rich people can afford to have bonkers-ass dreams and convince people they’re good ones. Musk’s ambition to send crewed missions to Mars in the next 10 years is a bit ambitious. But even that seems reasonable considering his ultimate goal of sending thousands of everyday people to and from Mars on a rocket that hasn’t been invented yet.

That said, could Elon Musk finally get to play Martian overlord by the 2060s? I’ve seen more impossible things happen in the last two months alone. Also, telling people they should be prepared to die to fulfill his pipe dream is pretty shitty marketing.

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Elon Musk, UAW spar over Tesla plant conditions

The United Auto Workers signaled Friday that it’s gathering support to unionize Tesla’s assembly plant after someone claiming to be an employee of the automaker publicly criticized the company over factory conditions.

The UAW confirmed Friday that Tesla workers “have approached the UAW, and we welcome them with open arms.”

The union said those workers included Jose Moran, who published a blog post Thursday on a site called Medium alleging that “preventable injuries happen often,” workers are forced into “excessive mandatory overtime,” dissent is stifled and compensation is inadequate.

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Elon Musk Thinks We’re Already Cyborgs

Elon Musk has not always been an optimistic voice for AI, warnings of its dangers to humanity. But here he sounds more muted about the threat. He sees the AI future as inevitable, with dangers to be mitigated through government regulation, as much as he doesn’t like the idea of them being a “bit of a buzzkill”.

He sees humans as information-processing machines that pale in comparison to the powers of a computer. What is necessary, according to Musk, is to create a greater integration between man and machine, specifically altering our brains with technology to make them more computer-like.

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Tesla customers cancel Model 3 orders over Musk Flip-Flopping

No fewer than five Tesla customers told BuzzFeed Monday that they’ve canceled plans to purchase the car maker’s highly anticipated Model 3 after Mr. Musk agreed to participate in two White House advisory groups, particularly in light of the president authorizing a broad executive order last week limiting the intake of refugees and restricting immigration.

Despite telling CNBC prior to Election Day that Mr. Trump was “not the right guy” for the White House, the 45-year-old South African-born entrepreneur has since accepted roles on the president’s economic advisory group and manufacturing council.

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Elon Musk pushed for a carbon tax at meeting with Trump

Elon Musk is reportedly using his access to President Donald Trump to push for a carbon tax.

The Tesla and SpaceX CEO said the Trump administration should consider a carbon tax at a White House meeting he attended Monday morning, a senior official at the White House told Bloomberg. The official said the proposal got little to no support from the other executives in attendance.

Tesla declined to comment for this article.

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Beware of Elon Musk, Who ‘Didn’t Build That’

The truth is that Musk went rent-seeking with the government by way of his network, got a loan to demonstrate that Tesla was an operational company with real possibilities, and used that fact to go to Wall Street to raise capital. It is a lot easier to raise capital when you have the federal government demonstrating it believes in you.

But hey, it’s not like Musk and Obama are buddies. Then again, they did have dinner in February 2015, Musk donating almost $36,000 to the 2012 Obama Victory Fund, and another 30 grand to the Democratic National Committee.

This back-scratching feels like it extends to SpaceX.  On Sept. 1, its Falcon 9 rocket exploded on the launch pad during a test run. It took less than four months for the FAA to approve SpaceX’s explanation for the explosion and to schedule a new flight.

Four months?

Remember how NASA flipped out after any mishap involving the space shuttle, and would ban flights for years until they figured out what was wrong? As of now, SpaceX is privately funded. Yet the obvious capital injection by the government seems inevitable. After all, the government can outsource any of its orbital needs to SpaceX, which would naturally mean offering it a massive loan in order to hasten that process. With this week’s successful launch, get ready for more government money for Musk.

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SpaceX lost a quarter of a billion dollars after one of its rockets blew up

“The company lost $260 million in 2015 when one of its Falcon 9 rockets, carrying two tons of cargo to the international space station, exploded shortly after liftoff,” writers Rolfe Winkler and Andy Pasztor reported for The Journal.

The financial hit was so hard because of launch delays. SpaceX did an internal investigationand made changes to its rocket fleet and operations. It wouldn’t launch again until December 2015 — when it landed its first Falcon 9 booster on a launch pad — missing out on six of 12 planned launches.

A Falcon 9 launch costs third-parties about $62 million, which means SpaceX missed on its projected launch revenue by roughly $370 million.

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What Did Elon Musk Promise?

Musk is a crony-capitalist of the worst ilk. He plays both side of the aisle and wraps it all up in fanciful oratory about colonizing Mars. American’s literally eat it up. Musk is so popular you would think he was the real Tony Stark. His latest dazzling promise was to send colonists to Mars by 2024 (for $200K a one-way ticket). No guarantees you will make it alive, and no, Musk won’t be joining you on the trip. Have fun being the first Martians.

The lofty interstellar goal of living on Mars is inspired by Star Wars and Star Trek dreams and comes with an out of this world price tag…about $10 billion. Rockets are expensive and Musk has plans to blow up a few more of them as he pretends to be colonizes the red planet. The last rocket that blew, the Falcon 9, cost several hundred million in lost cargo alone. Musk actually blames that on real Martian sabotage, but that’s another story.

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