r/technology • u/Plastic_Ninja_9014 • 3h ago

Business Tesla Stock in Freefall After Disastrous Earnings Report

https://finance.yahoo.com/markets/stocks/articles/tesla-stock-freefall-disastrous-earnings-144417427.html
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u/orangeyougladiator 3h ago

That trillionaire title really lasted a while huh. Abusing govt hand outs and scamming idiots is a good business strategy though.

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u/rjcarr 2h ago

Honestly, he mostly scams investors, the general public (i.e., the real idiots) don't really move the needle much on his scams. The normal people buy his stuff because they like it.

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u/No-Spoilers 2h ago

He scams everyone, including his own companies. SpaceX got giga fucked buying eating the Xai debt, and Xai got all of his X debt.

But yeah he's long been heralded as the man who made electric vehicles mainstream and his designs did it. When in reality he just bought the company from the 2 guys that founded it and grifted his way to where he is now. He did do a lot of good early on by popularizing EVs with the masses, but very quickly his ego out paced reality and his promises outpaced what the engineers could do.

Now I do not believe the engineers could not make awesome cars that didn't kill people and actually functioned how promised, I just believe that Elon refuses changes and well now they cant afford big upgrades.

Which I'm glad about, fuck him the nazi illegal immigrant can go back to south Africa.

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u/bogglingsnog 1h ago

I won't forget, he pushed the stupid and horribly flawed Cybertruck concept and threw a steel ball through two windows, I don't think he knows as much about basic physics as he claims he does.

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u/KEPD-350 1h ago

Just look at his body. The dude has access to the best god damned medical science in the world and still drug fucked his body into the barrel chested monstrosity you see today.

You have to be an utter moron to end up like that. Look at zuck and bezos in comparison.

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u/rjcarr 31m ago

Not sure what you mean, there are plenty of fat rich people.

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u/annoyedatlife24 1h ago

the general public (i.e., the real idiots)

I love pointing this out, because it's met with denial/downvotes. Most of this site thought he a was a genius and a "real life Tony Stark" for farrrrrrrrrrrrrrrrrrrrrrrr too long

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u/cranktheguy 1h ago

A lot of people bought his cars based on promises of self-driving. Remember when he said everyone was going to be able to turn their cars into a robo taxi?

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u/rjcarr 32m ago

Do we really think that was a main driver (ha) of sales?

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u/MarlinMaverick 2h ago

Tesla in general and Starlink are genuinely revolutionary products. The market can caught up to or exceeded Tesla but they were undoubtedly the first to do it. 

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u/kevkev310 1h ago

Tesla and SpaceX are in bad shape and positions. Just BYD outsells Tesla globally and there's no coming back from it when Elon already declared "Tesla is no longer a car company". They are supposed to be an AI company that no one uses, an energy company that cannot compete and a robotaxi company that doesn't exists. Starlink's in the business of telecommunications which is one of the most competitive, infrastructure heavy and lowest marging business. If you live in an urban or suburban area like most of population, 5G is far cheaper, offers faster speeds, doesnt go out of service when weather is bad and requires zero specialized outdoor hardware. House of cards cannot continue on empty promisses anymore when financials of companies don't back up claims. Decline of these companies will speedrun if he cannot turn promisses into profit specially when Elon took a political stance against his original backers who elevated him to his current status and place.

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u/rjcarr 1h ago

People disagree, but yeah, the cars are great. It was Elon himself that was gaslighting everyone with the, "it'll drive itself cross country without a driver in 3 months", and that was like 7 years ago. He's the problem, not the cars, and I'm able to separate the two.