Someday people will look back and say that Tesla and Netflix were symbols of our age: companies that went deeper and deeper into debt, never made a dime, and were rewarded with outrageous stock prices. From Eric Peters at theburningplatform.com:
Elon Musk’s crony capitalist con operation just posted its biggest loss to date – $430 million in three months – but Tesla stock prices climbed 10 percent after the announcement.
What to make of this?
It’s like being in a nursing home, beside the bed of your blind, dementia-addled 94-year-old grandmother and the doctor just told you she probably hasn’t got much time left – but you decide to go out and buy her a new car.
In Tesla’s case, it’s taxpayerswho are buying the cars – for the affluent virtue-signalers who “buy” them at massively subsidized but massively high prices.
Even so, Elon still can’t make a buck on these things.
Not that it matters.
The conga line of suckers seems endless. In part because of Elon’s Rasputin-like ability to bedazzle the media, which reports every promise with the gush of a 16-year-old girl effusing over her prom date and never reports that her date raped her after the prom.
Mum is always the word when it comes to Elon.
For example – and most recently – the media gushed over the arrival (sort of) of the “affordable” Model 3, sticker price only $35,000! Which is only $15,000 more than a well-equipped Honda Civic sedan, which does the job of getting from A to B vastly better, if the metrics are cheaper and easier and more conveniently.
But the media has not told you that the “affordable” $35,000 Model 3 isn’t available.
And it’s only twice as expensive as a well-equipped Honda Civic.
But what’s $20,000 between friends, eh?
Keep in mind, too, that both the $35,000 Model 3 and the $40,000 Model 3 are really more like $50,000 Model 3s – if you take away the subsidies and price them such as to account for their true cost to manufacture and sell at a profit – as opposed to giving each away at a loss, as Elon has been doing for the past 15 years.
To continue reading: Tesla Posts Record Loss – and Stock Price Goes up!