Does Elon really need money?
The last 60 minutes episode he was on said prior to making his car assembly fast enough to be profitable, he was burning through 10 million dollars a day. I don’t know what his burn down rate is now but, every little bit helps I guess.
Found a chart relating to that:
Well, hopefully he’ll use the money to somehow fix this little problem:
Probably not, but the company itself does, or perhaps it’s more accurate to say it needed the boost to investor confidence that can only come with demonstrating the ability to raise capital and, for all his myriad flaws, that’s always been Musk’s strength.
My perception of Tesla is that, in order to avoid losing market share it might never get back to larger manufacturers with more capital and, more importantly, production capacity, it tried to grow too fast. They can sell all the cars they want, but building the infrastructure to actually produce and repair them takes time they didn’t give themselves with their ambitious sales numbers.
Tesla is a lifestyle brand that wants to become a commodity brand without losing the cultural cachet of a lifestyle brand, and to do so in a market dominated by a raft of some of the biggest companies in the world. If they succeed (and get Musk to stop sabotaging them with his tweets), it will be remarkable. If they crash and burn like some of their cars, it will be a spectacle.
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