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Elon Musk's businesses have benefited from billions in federal and state government subsidies and low-interest loan programs over the years. He's taking huge r

Elon Musk's businesses have benefited from billions in federal and state government subsidies and low-interest loan programs over the years. He's taking huge risks because other people are footing the bill.

xyzzyz 10y ago
The same could be said about all other businesses funded by VC money, hedge funds and IPOs. One might question whether governments should be involved in market investing, but it's not like Musk is some kind of outlier here.
lutorm 10y ago
I'm not that familiar with Tesla, but what "federal and state government subsidies and low-interest loans" have SpaceX gotten? Unless you count NASA contracts as "subsidies and loans", of course, which is absurd.
__jal 10y ago
And the legacy energy companies are still raking billions in subsidies every year, even before you get to things that aren't counted that way. And the industrial farmers are still subsidized to grow various things. And FedEx has a huge implicit subsidy via road maintenance. And Walmart, via various welfare policies. And insurance companies heavily benefit from various government policies. I can think of these all day.
Reason077 10y ago
Elon Musk's businesses have benefited from billions in federal and state government subsidies and low-interest loan programs over the years. Billions in loans? Tesla received a $465M loan from the department of energy in 2010, which they paid back in full, with interest, by 2013. As for subsidies (ZEV credits, EV incentives, state tax credits, etc)? Tesla receives absolutely nothing that isn't available to all US car manufacturers.
dingo_bat 10y ago
So let them stop loaning him money. He's a businessman, he has a duty to exploit any loan from anybody, as long as it's legal. If the peyote really had a problem with it they would cause the government to stop offering loans to Tesla.
mikeash 10y ago
Traditional car companies have benefitted from trillions in subsidies by being allowed to poison the population without paying for the costs. I'd much rather have a car company take some of my money in taxes than take my health by polluting. Remember leaded gasoline? That's only been fully banned in the US for about two decades. Entire generations were damaged, like Flint, MI on a national scale. But ooh noo, Elon Musk takes some of our taxes, the horror.

xyzzyz 10y ago

The same could be said about all other businesses funded by VC money, hedge funds and IPOs. One might question whether governments should be involved in market investing, but it's not like Musk is some kind of outlier here.

lutorm 10y ago

I'm not that familiar with Tesla, but what "federal and state government subsidies and low-interest loans" have SpaceX gotten? Unless you count NASA contracts as "subsidies and loans", of course, which is absurd.

__jal 10y ago

And the legacy energy companies are still raking billions in subsidies every year, even before you get to things that aren't counted that way. And the industrial farmers are still subsidized to grow various things. And FedEx has a huge implicit subsidy via road maintenance. And Walmart, via various welfare policies. And insurance companies heavily benefit from various government policies. I can think of these all day.

Reason077 10y ago

Elon Musk's businesses have benefited from billions in federal and state government subsidies and low-interest loan programs over the years. Billions in loans? Tesla received a $465M loan from the department of energy in 2010, which they paid back in full, with interest, by 2013. As for subsidies (ZEV credits, EV incentives, state tax credits, etc)? Tesla receives absolutely nothing that isn't available to all US car manufacturers.

dingo_bat 10y ago

So let them stop loaning him money. He's a businessman, he has a duty to exploit any loan from anybody, as long as it's legal. If the peyote really had a problem with it they would cause the government to stop offering loans to Tesla.

mikeash 10y ago

Traditional car companies have benefitted from trillions in subsidies by being allowed to poison the population without paying for the costs. I'd much rather have a car company take some of my money in taxes than take my health by polluting. Remember leaded gasoline? That's only been fully banned in the US for about two decades. Entire generations were damaged, like Flint, MI on a national scale. But ooh noo, Elon Musk takes some of our taxes, the horror.