TESLA TO GO PRIVATE & SHORT SELLING IRONY

rockits

Member
Messages
9,167
Really interesting to see that Elon Musk is trying to put a plan together to buy back Tesla into private ownership. I would love to see it happen. I know many startups and companies growing rapidly need investment and venture capitalists however I would love to see some or more larger organisations stick with private ownership. Maybe even the banks could go back to doing what banks should be doing and lending money instead of the VC's.

It was all very ironic that Tesla and/or Elon Musk is being sued for his tweets about the above ideas that allegedly pushed the share price up so short sellers lost their shorts! How ironic!! The whole short selling idea is flawed, wrong and should be banned IMHO. I don't agree with it at all. Never have, never will and been barking on about it for years. It creates massive volatility with zero underlying fundamentals and breeds boom/bust economics. The scumbags that have made millions from it would sell their granny for a fiver. It creates scenarios where a long standing, solid, profitable company can be ripe and exposed to takeovers/buyouts and being purchased at stupidly low values. Then someone buys it for a song, strips the assets or merges it into their own empire. Blah blah. It all stinks and is all to make someone a pot-load of cash. At what expense or cost to others?! Short selling should be banned.....period. Who ever thought it was ever a good idea is an imbecile.

Tesla to go private article link

Hats off to people like Mike Ashley for making the most of the opportunities that we allow him to take advantage of. I don't like the guy, what he stands for or what he does. People like Mike Ashley need to put on a leash as they are becoming too big and powerful for all our own goods. Murdoch was another and don't get me started on Philip Green. These guys are unscrupulous and out for number one. I don't believe it is genuinely good for us as an economy or anybody. Nobody needs that amount of money ever. They can do some good with it and choose to do little if nothing. That kind of money can make an awful difference to be used for accelerated research to a cure for cancer or the like.

One guy I have huge respect for and I'm sure there are many others is Bill Gates. Not just because he was/is involved in my working working world but for what he has given back. The resources plowed into Polio research and eradication is just one things. I don't see the idiots like Ashley, Murdoch & Green doing anything like this on remotely the same scale.
 
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outrun

Member
Messages
5,017
Feel better to have got that off your chest ? :)

In response, I agree that shorting is unethical and would benefit from being better controlled however Elon Musk making announcements that he doesn't fully control to a regulated marketplace is also unethical and he should be duly punished for the impact that has on his investors. They are not just corporates, hedge funds or institutional funds, but also average Joe's that are backing new, green technology with their savings. Musk has no right to undermine them with unscheduled announcements and a strategy that, in the end, is designed to protect him after years of over promising and under delivering. Tesla loses more money than most small countries and yet he's still held up on a pedestal for successes of the past.

How long before Elon is forced to take an "advisory role" by his investors?
 

P R

Member
Messages
1,382
I dont like Elon Musk. He can't handle it when someone disagrees with anything he says. He tried to sue Clarkson several times after he critisied his first tesla sports car. He called that diver a "paedo" for saying his submarine wouldnt work in the Thai cave rescue. Etc..
 

GeoffCapes

Member
Messages
14,000
The cynic in me says that turning Tesla private is to cover Musk's ****. If a public company with the debts that Tesla has were to go belly up. He would be looking at 40 years in jail.

However, if private company goes belly up with the debts Tesla has, then no one goes to prison as private companies are not regulated the same way, and all that happens is that investors lose their money.

Smart move in my opinion to keep himself out of jail. As Tesla fail to deliver on 99% of their promises.
 
Messages
6,001
Should we have a people against the wall thread?
Here are three
Alan Titchmarsh, Rupert Murdoch, Eddie Izard
in no particular order
 

rockits

Member
Messages
9,167
For the record I'm not a fan of Elon Musk either. I respect what he is trying to do with electrification as any new innovations to the great good should applauded.

However these companies that run up massive startup & ongoing development costs never to either turn a profit let alone repay the original coats I don't get. Where does that money keep coming from & eventually go when the gravy train or music stops?

How do & why should a few comments on twitter have such a dramatic immediate effect on anything?
 

Wanderer

Member
Messages
5,791
I crowdfunded the Navdy sat nav thing, was all great, bells and whistles, great tech, nice place to work, got my Navdy, was great, went tits up, and now the plug is being pulled, rendering the whole think useless.

Had a Tesla P100D for weekend in Denmark when I lived there, was great, 0-100km in 2.9 secs in complete silence, what’s not to like. After 2 hours of it I was bored rigid, cheap plastic tho actually leather interior, massive ipad thing started getting on nerves, never knowing whether it was on or off, no radio or owt, just 3G and Spotify. Dropped it off on Sunday, walked back home past Kungens Nytorv in København and spotted a parked up Lambo and literallly creamed my kecks.

That my friends, is the difference.....
 

Wanderer

Member
Messages
5,791
Here’s the pic!
 

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