When Tesla (NASDAQ: TSLA) announced in June it would buy SolarCity (NASDAQ: SCTY), I got really excited. For months, I’d been studying SolarCity’s financials and I had been stunned by the many misrepresentations of its value in the company’s publications.
Preparing the merger, I thought, would make a lot of 3rd parties take a closer look, so we would finally get a true picture of what the highest paid Bay Area executive under 40 had been achieving so far.
Unfortunately, the 3rd parties brought to the table by Tesla and SolarCity did not offer a lot of joy. They stuck to the numbers given to them by the people who paid them, so the story of deception just continued.
In fact, smooth sailing made executives of Tesla even more courageous, because on October 25, they showed the following graph in a presentation given to Institutional Shareholder Services Inc.
Read more "SolarCity’s $8 Billion Turns Out To Be Just $1.1 Billion"
Elon Musk wants to save humanity. That’s his stated mission. He doesn’t want to get rich for its own sake, he wants to get rich so that he can devote his wealth to the colonization of Mars, which in Musk’s mind is not only an enticing place to live but also an effective backup location […]
Read more "Elon Musk unveils Mars colonization plan, but don’t pack your bags just yet"
Fans of the Wachowskis’ The Matrix films may remember the trilogy’s final suggestion (as far as critics could tell) that humanity’s struggle to escape its own virtual world may take a very, very long time. Thankfully, a number of tech titans are dedicating millions to finding a way out of the techno-reality they’re creating.
Elon Musk and at least one other future-facing donor are reportedly spending millions to establish escape routes from the indistinguishably realistic and Matrix-like virtual world that awaits us all–or which, according to Musk, may have already arrived. The UK’s Independent noted yesterday that new information from Sam Altman, who heads up the powerful Y Combinator and founded the non-profit OpenAI with Musk, suggests that Musk isn’t the only one pouring cash into a virtual contingency plan.
As a recent New Yorker profile of Altman explains, “people in Silicon Valley have become obsessed with the simulation hypothesis, the argument that what we experience as reality is in fact fabricated in a computer.” As a result, a second “tech billionaire” is now putting their money where their (hopefully real) mouth is by paying scientists to find the simulation’s emergency exit.
Read more "Elon Musk And Friends Are Spending Millions To Break Out Of The Matrix"
Tesla CEO Elon Musk suggested Wednesday that he can create a car-sharing network that’s so good, customers will abandon Uber and other ride-sharing companies in droves to adopt it.
During an earnings call Wednesday, Musk was asked to explain whether his proposed car sharing network, dubbed the Tesla Network, would generate revenue for Tesla or help Tesla owners offset the costs of their vehicles. In response, Musk made some cryptic comments about the scope of his so-called “Tesla Network.”
Musk said people have been characterizing his car-sharing proposal as “Tesla versus Uber or Lyft or something like that. It’s not Tesla versus Uber, it’s the people versus Uber.” There was no follow-up question, so Musk’s statement was left hanging like that.
Read more "Elon Musk makes cryptic comments about Tesla competing with Uber"
For its part, Tesla was downgraded to neutral from a buy rating by Goldman Sachs Group Inc. last week. The company’s shares have dropped as it moves forward with its plan to buy rooftop solar installer SolarCity Corp., which some analysts have deemed a risky bet. Musk is chairman of SolarCity, and his cousin Lyndon Rive serves as its chief executive officer.
Customers who purchase an electric vehicle can claim a $7,500 federal income tax credit and several states offer additional incentives, according to Tesla’s website.
Tesla will let Musk’s tweet “stand as a comment,” spokeswoman Alexis Georgeson said in an e-mail. The Clinton campaign didn’t immediately respond to a request for comment.
Read more "Coal Miner’s CEO Calls Tesla a ‘Fraud’ and Elon Musk Tweets It"