When money spent on assets doesn’t result in assets

Link to the news without the paywall https://archive.ph/0dJR2

Elon, the government doesn’t need DOGE. But Tesla does need DOGE because it’s spending money inefficiently.

  • cronenthal@discuss.tchncs.de
    20·
    3 days ago

    Just this morning I thought to myself: the next logical step for Tesla will be going full Enron and cooking the books. For obvious reasons, the TSLA share price cannot go under a certain threshold, so Musk will direct Tesla to do anything, and I mean anything, to raise it.

    • Riskable@programming.devEnglish
      8·
      3 days ago

      If you don’t what the OP here is talking about, both Tesla and Musk have loans that require collateral. If Tesla’s stock drops enough it will go below the collateral threshold and the banks to whom the money is owed will come calling.

      Since Musk owns many billions in other things he can easily pay up when that happens but wow will it be expensive and embarrassing. He might even fall out of the top 100 richest!

    • cronenthal@discuss.tchncs.de
      11·
      3 days ago

      Really? Oh boy, this is bad. Holding TSLA at this point means holding the bag. If these “irregularities” surface now, we’re starting to see the tip of the iceberg.

  • Substance_P@lemmy.worldEnglish
    7·
    3 days ago

    I know finances and inflation are affecting everyone except the elite upper class right now. Those with investments can only hope Tesla gets removed from the S&P 500, allowing people with 401(k)s and the economy at large to breathe a sigh of relief. This bozo should never have become as wealthy as he is.