Tesla Earnings
Oh dear. Musk is feeling “under the weather” as he announces missing Tesla’s bottom line target by 39% and then share prices also take a hit. It seems like the strategy from the world’s greatest businessman, or the world’s greatest benefits queen depending on who you listen to, which is to try and increase revenue by offering such large discounts your company ends up in negative cashflow isn’t cutting the mustard.
Turns out that selling more of your product by having to almost give them away hurts your bottom line. Who knew huh? It has apparently not occurred to the greatest business minds alive, with all their AI-powered and augmented insights. What a bunch of fucking clowns.
The situation is so bad, that on the call Musk was asked if and when Tesla was going to merge with SpaceX. Elon quickly moves on and the company is allegedly pivoting from selling EVs to robots, with plans to spend billions to refit factories to build these robots because, you know, Elon said everyone will want one.
How embarrassing.