Is Elon Musk a fraud?

[Crezth]

Elon Musk acted like a 'little baby' and was 'almost in tears' on Tesla's 'terrible' earnings call, analyst says

• Financial analyst Kevin Paffrath criticized Elon Musk's comments on Tesla's recent earnings call.
• He said Musk blamed the EV maker's struggles on economic factors instead of "coming up with a plan."
• Tesla's third-quarter results fell short of analysts' expectations.

It's now clear that Tesla's third-quarter earnings call on Wednesday didn't exactly go as expected.

CEO Elon Musk acted like "a little baby," financial analyst and YouTuber Kevin Paffrath recently told Yahoo Finance. He also described the call as "terrible" and said Musk was "almost in tears" at one point.

"For a leader to cry about the economy rather than funneling that and coming up with a plan is pathetic," said Paffrath, who has almost 1.9 million subscribers on his Meet Kevin YouTube channel, and owns Tesla stock.

Paffrath pointed to Musk's comments on Tesla's gigafactory in Mexico as an example. The $10 billion endeavor, which Musk confirmed during a meeting with investors in March, would be the company's sixth and most expensive factory to date.

Musk suggested at one point on the call that he was delaying the factory in light of rising interest rates, which make borrowing more expensive. "If interest rates remain high or if they go even higher, it's that much harder for people to buy the car. They simply can't afford it," Musk said, pointing to the impact on monthly car loan payments.

But Paffrath slammed Musk's response, saying the Tesla CEO was "afraid," and suggested that Musk should negotiate a better deal with the Mexican government or potentially "advertise to higher-income areas." Paffrath has previously called on Tesla to promote its products to non-fans.

"We need to know the light is at the end of the tunnel rather than hearing a complaining CEO who's not actually providing that path," he told Yahoo Finance.

Tesla reported weaker than expected third quarter results, with both earnings per share and revenue of $23.35 billion falling short of analysts' estimates.

Shares in the EV maker fell 15% in the past week, valuing the company at $664 billion, but the stock is still up 96% this year.

Paffrath is far from the only analyst who's criticized Musk's performance on the call. Wedbush Securities analyst Dan Ives characterized it as a "mini disaster" in which a "cautious Musk'' focused on high interest rates and tempered expectations around the Cybertruck.

Elon Musk acted like a 'little baby' and was 'almost in tears' on Tesla's 'terrible' earnings call, analyst says

Kevin Paffrath slammed Elon Musk's comments on Tesla's third quarter earnings call in an interview with Yahoo Finance this week.

finance.yahoo.com

 

[r16]

once again the hate of Musk is a project that's actually gaining new aims to hide and burnish Hunter's reputation . Considering we are headed into the age of god presidents with massive advances daily expected to change a lot of stuff in contrast to god kings of old who were just loud mouthed idiots and made great only because their subjects were as dumb as the people of 2023 ...



of course the same process will declare this a defence of the guy for future contracts instead of a first class trolling .

edit: Take note that autocorrect on my tablet or even CFC ate stuff so that for future contracts read as future before my intervention .

 

[Samson]

No more Mr Nice DoJ - Tesla gets subpoenas over self-driving software claims

In financial filings, Tesla has admitted that it is under a serious investigation by the US Department of Justice over the efficacy of its self-driving code, among many other things.

The 10-Q regulatory filing with the Securities and Exchange Commission says that, in addition to investigations by the National Highway Traffic Safety Administration, the National Transportation Safety Board, and the SEC, the DoJ has subpoenaed the electric car maker for a host of important information.

"The company has received requests for information, including subpoenas, from the DOJ. These have included requests for documents related to Tesla’s Autopilot and FSD features," it states.

"Additionally, the Company has received requests for information, including subpoenas from the DOJ, regarding certain matters associated with personal benefits, related parties, vehicle range and personnel decisions. To our knowledge no government agency in any ongoing investigation has concluded that any wrongdoing occurred."

Nevertheless Elon's Musketeers say that they can't predict any outcomes of such investigations and included the usual boilerplate of "We cannot predict the outcome or impact of any ongoing matters. Should the government decide to pursue an enforcement action, there exists the possibility of a material adverse impact on our business, results of operation, prospects, cash flows, financial position or brand."

California and the National Highway Traffic Safety Administration is already investigating the number of crashes involving Tesla vehicles running with software assistance for drivers. The NHTSA found around 70 percent of such reported incidents involved Tesla vehicles, with the firm's vehicles currently accounting for around half of the electric cars bought in the US.

As for battery range issue, this could be related to a report in July claiming that Tesla rigged its cars to overestimate the range available to drivers, until the charge levels reached 50 percent, when a more realistic figure was displayed. This has been going on for around a decade, according to Reuters.

When customers called in to get a fix for an issue that could potentially see them stranded too far from a recharging station, Tesla reportedly set up a "Diversion Team" in Las Vegas, where support staff would get a $1,000 for every customer appointment on the issue they canceled.

 

[FriendlyFire]

It looks very bad if the range is significantly less then advertised

DOJ probing Tesla’s EV range after reports of exaggerated numbers​

Reuters reported that Tesla had received so many customer complaints about range that it created a special “diversion team” to cancel their service appointments. Customers were incensed that their Tesla vehicles were falling well short of the advertised range, sometimes by as much as half the number of miles that they were purported to get on a full charge.
According to Reuters, there was nothing actually wrong with the vehicle’s battery. Rather, Tesla had allegedly created software to rig its driving range estimates to show a rosier picture. This led to thousands of customers seeking service appointments to figure out what was wrong with their vehicles. But because the vehicle was working as intended, Tesla’s diversion team simply canceled all the appointments.

DOJ probing Tesla’s EV range after reports of exaggerated numbers

Tesla vehicles get much less real-world range than advertised.

www.theverge.com

 

[Takhisis]

Damned judges, they ruined judgements!

Judge finds ‘reasonable evidence’ Tesla knew self-driving tech was defective​

Ruling clears way for lawsuit brought against company over fatal crash in 2019 in which Stephen Banner was killed near Miami

A judge has found “reasonable evidence” that Elon Musk and other executives at Tesla knew that the company’s self-driving technology was defective but still allowed the cars to be driven in an unsafe manner anyway, according to a recent ruling issued in Florida.

Palm Beach county circuit court judge Reid Scott said he’d found evidence that Tesla “engaged in a marketing strategy that painted the products as autonomous” and that Musk’s public statements about the technology “had a significant effect on the belief about the capabilities of the products”.

The ruling, reported by Reuters on Wednesday, clears the way for a lawsuit over a fatal crash in 2019 north of Miami involving a Tesla Model 3. The vehicle crashed into an 18-wheeler truck that had turned on to the road into the path of driver Stephen Banner, shearing off the Tesla’s roof and killing Banner.

Spoiler :

The lawsuit, brought by Banner’s wife, accuses the company of intentional misconduct and gross negligence, which could expose Tesla to punitive damages. The ruling comes after Tesla won two product liability lawsuits in California earlier this year focused on alleged defects in its Autopilot system.

Judge Scott also found that the plaintiff, Banner’s wife, should be able to argue to jurors that Tesla’s warnings in its manuals and “clickwrap” were inadequate. He said the accident is “eerily similar” to a 2016 fatal crash involving Joshua Brown in which the Autopilot system failed to detect crossing trucks.

“It would be reasonable to conclude that the Defendant Tesla through its CEO and engineers was acutely aware of the problem with the ‘Autopilot’ failing to detect cross traffic,” the judge wrote.

Banner’s attorney, Lake “Trey” Lytal III, said they are “extremely proud of this result based in the evidence of punitive conduct”.

The judge also cited a 2016 video showing a Tesla vehicle driving without human intervention as a way to market Autopilot. The beginning of the video shows a disclaimer which says the person in the driver’s seat is only there for legal reasons. “The car is driving itself,” it said.

Judge Scott said that “absent from this video is any indication that the video is aspirational or that this technology doesn’t currently exist in the market”, he wrote.

Bryant Walker Smith, a University of South Carolina law professor, told Reuters that the judge’s summary of the evidence was significant because it suggests “alarming inconsistencies” between what Tesla knew internally, and what it was saying in its marketing.
“This opinion opens the door for a public trial in which the judge seems inclined to admit a lot of testimony and other evidence that could be pretty awkward for Tesla and its CEO,” Smith said. “And now the result of that trial could be a verdict with punitive damages.”

 

[Kyriakos]

It's almost as if pretending to have tech doesn't mean you have tech. Teslanos.

 

[Arakhor]

Musky-husky is apparently a glutton for punishment these days. Who knew that he was such a masochist?

https://twitter.com/x/status/1727750057800155243

 

[r16]

lets call him A . A follows B on twitter and has just learned B follows Musk because an automated tweet or message or whatever came to A to inform about B . To this offer , A responds

-I would rather get hit by a car.

it is seen by C , some other person , to say this of Musk

-He offers that, too.

(would be a picture but ı save them and that's 280kb in picture size)

 

[Takhisis]

Musky-husky is apparently a glutton for punishment these days. Who knew that he was such a masochist?

https://twitter.com/x/status/1727750057800155243

It's blocked for non-users again. What does it say?

 

[Broken_Erika]

It's blocked for non-users again. What does it say?

This

Spoiler :

 

[Takhisis]

Oh yeah, I'd read about it a couple of days ago.

He argues freedom™ but cannot stand it when others exercise said attribute.

 

[Arakhor]

Well, the reason I used the Twitter link was because CFC auto-expands the tweet. This is the corresponding Nitter link.

 

[Broken_Erika]

Musky-husky is apparently a glutton for punishment these days. Who knew that he was such a masochist?

https://twitter.com/x/status/1727750057800155243

Tesla sues Sweden as strikes target carmaker​

Tesla has sued the Swedish Transport Agency after postal workers stopped delivering licence plates connected to the electric car company.

The move is intended to support a strike by Tesla metal workers in the country.

The IF Metall union is fighting the US carmaker for a collective bargaining agreement, which is standard in Sweden.

Tesla boss, billionaire Elon Musk, said last week the potential impact of the stand-off was "insane".

About 130 staff at Tesla's Swedish repair shops have been on strike since 27 October, demanding an agreement to guarantee "good wages, good pensions and good insurance for staff", according to IF Metall.

Eight other unions have since announced their own actions targeting Tesla in sympathy with the repair workers.

The postal workers' Swedish Union for Service and Communications Employees (Seko) started its "blockade" on 20 November. Dockworkers also recently stopped unloading Tesla cars.

Tesla's lawsuit, filed in district court on Monday, accuses the Transport Agency, part of the Swedish government, of unfairly targeting Tesla by not fulfilling the deliveries of the registration plates, according to reports.

It demanded access to the plates.

A spokesperson for the agency said it had not seen the lawsuit but did not share the view that it was failing to meet obligations.

"Tesla has decided to have the issue tested in court, which is their right," Mikael Andersson said.

"We need to look at the lawsuit and Tesla's reasoning in it. Reasonably, the district court will allow the Swedish Transport Agency to express itself in the case and thus our attitude to Tesla's reasoning will be clear. The District Court may then hear the matter."

Tesla did not respond to a request for comment.

Mr Musk is known for opposing unionisation at the car company.

Last week, he weighed in on X, the social media platform he owns, responding to an article about the strike with the comment: "This is insane".

In announcing its action last week, the Seko president, Gabriella Lavecchia, said IF Metall's fight was "also our fight" and that Tesla was refusing to play by the "rules of the game here in Sweden", according to a translation of the announcement.

"It is of course completely unacceptable," she said. "The fight that IF Metall is now taking is important for the entire Swedish collective agreement model."

IF Metall has said Tesla workers have lower wages and are offered fewer benefits than is the industry standard.

It said that while some big US companies, including Amazon, have resisted collective bargaining agreements, most end up complying.

"We are convinced that even Tesla will realise that there is no tenable reason to maintain its almost dogmatic resistance to signing contracts," the union said.
https://www.bbc.com/news/business-67546891

 

[Lexicus]

Tesla sues Sweden as strikes target carmaker​

Tesla has sued the Swedish Transport Agency after postal workers stopped delivering licence plates connected to the electric car company.

The move is intended to support a strike by Tesla metal workers in the country.

The IF Metall union is fighting the US carmaker for a collective bargaining agreement, which is standard in Sweden.

Tesla boss, billionaire Elon Musk, said last week the potential impact of the stand-off was "insane".

About 130 staff at Tesla's Swedish repair shops have been on strike since 27 October, demanding an agreement to guarantee "good wages, good pensions and good insurance for staff", according to IF Metall.

Eight other unions have since announced their own actions targeting Tesla in sympathy with the repair workers.

The postal workers' Swedish Union for Service and Communications Employees (Seko) started its "blockade" on 20 November. Dockworkers also recently stopped unloading Tesla cars.

Tesla's lawsuit, filed in district court on Monday, accuses the Transport Agency, part of the Swedish government, of unfairly targeting Tesla by not fulfilling the deliveries of the registration plates, according to reports.

It demanded access to the plates.

A spokesperson for the agency said it had not seen the lawsuit but did not share the view that it was failing to meet obligations.

"Tesla has decided to have the issue tested in court, which is their right," Mikael Andersson said.

"We need to look at the lawsuit and Tesla's reasoning in it. Reasonably, the district court will allow the Swedish Transport Agency to express itself in the case and thus our attitude to Tesla's reasoning will be clear. The District Court may then hear the matter."

Tesla did not respond to a request for comment.

Mr Musk is known for opposing unionisation at the car company.

Last week, he weighed in on X, the social media platform he owns, responding to an article about the strike with the comment: "This is insane".

In announcing its action last week, the Seko president, Gabriella Lavecchia, said IF Metall's fight was "also our fight" and that Tesla was refusing to play by the "rules of the game here in Sweden", according to a translation of the announcement.

"It is of course completely unacceptable," she said. "The fight that IF Metall is now taking is important for the entire Swedish collective agreement model."

IF Metall has said Tesla workers have lower wages and are offered fewer benefits than is the industry standard.

It said that while some big US companies, including Amazon, have resisted collective bargaining agreements, most end up complying.

"We are convinced that even Tesla will realise that there is no tenable reason to maintain its almost dogmatic resistance to signing contracts," the union said.
https://www.bbc.com/news/business-67546891

Was this lawsuit filed in a US court?

 

[Samson]

Was this lawsuit filed in a US court?

I am almost certain not. It says "the district court will allow the Swedish Transport Agency to express itself in the case and thus our attitude to Tesla's reasoning will be clear. The District Court may then hear the matter"

 

[Lexicus]

I am almost certain not. It says "the district court will allow the Swedish Transport Agency to express itself in the case and thus our attitude to Tesla's reasoning will be clear. The District Court may then hear the matter"

Yeah but that would presumably be true of whatever court it had been filed in?

(I agree it's probably Swedish court but it seems like a kind of important piece of info to leave out)

 

[Arakhor]

Does Elon really know only two ways to interact with people - either with memes or by suing them?

 

[Lexicus]

Does Elon really know only two ways to interact with people - either with bad memes or by suing them?

ftfy

 

[Takhisis]

His suits are bad too, Lexicus.

 

[innonimatu]

Does Elon really know only two ways to interact with people - either with memes or by suing them?

He's a narcissist - so, yes.