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This is very worrying. Don't they have financial advisors at Tesla? An automaker should focus on making cars. This is what they specialise in and what they are
by lottin 6y ago
This is very worrying. Don't they have financial advisors at Tesla? An automaker should focus on making cars. This is what they specialise in and what they are good at. They should not be speculating with financial assets. Tesla shareholders can do that themselves, if they wish to.
- villasv 6y agoUltimately this comes down to Mr. Musk stomping his feet until his personal vision starts being called "strategic" by Tesla C-level.
- RhodoGSA 6y agoTesla is not an automaker and i don't know why people keep calling it that. It is a technology company. It's designed chips, software, Cars, trucks, manufacturing lines, battery's, solar panels - And oh my god, if you saw the random products the engineering team designed in Keto Factory outside Fremont, you'd think very differently about Tesla as a company.
- lottin 6y agoWhat's a technology company?
- throwawayffffas 6y agoThat's pretty much all the things you need to design to be an automaker these days, perhaps with the exception of solar panels.
- leesec 6y agoWell then it's shocking how much if this is outsourced by the average automotive company
- Tepix 6y agoTesla makes 93% of its revenue by selling cars and 7% with energy generation and storage.
- RhodoGSA 6y ago'Selling Cars' doesn't quite describe what Tesla does such as saying apple is just a phone designer. They are both selling platforms that are very much software and technology driven. Tesla app store and gaming console isn't a car. Developing 30 times cold rolled steel casting with a unibody design is definitely some next level manufacturing as wekk,
- andreaorru 6y agoIs Amazon still just an online book store?
- nabla9 6y agoDon't think this as financial move, think it as marketing move. He buys Bitcoin for $1.5B to get publicity for the fact that he will accept bitcoin. Bitcoin has low liquidity. Selling large amounts affects the markets. $1.5B supports BTC valuation in the case that BTC speculators want to buy 50,000 Teslas.
- webinvest 6y agoTesla stock jumped up 2% today on the news. If you think TSLA stock is overvalued, you can short it but there is a graveyard of dead shorts and pairs of red satin short shorts to commemorate it. Personally, I’ve wondered why this hadn’t all happened sooner with companies. However often times Tesla is the trailblazer and the other companies copy & follow.
- simonebrunozzi 6y agoWould you consider Porsche an automaker? I assume so; then, it might surprise you that most of their revenues and profits don't come from producing and selling cars, but rather from financial products.
- lottin 6y agoAccording to Porsche, Porsche Automotive had a profit of €4,110 million in 2018, whereas Porsche Automotive and Financial Services had a profit of €4,396. [1] This means the financial services branch contributed 6.5% of the profits. [1] https://annualreport2019.volkswagenag.com/divisions/porsche.html https://annualreport2019.volkswagenag.com/divisions/porsche....
- boc 6y agoMaybe they'll just release a RISC which lets you mine bitcoin with your Tesla or Powerwall, and use that as a selling point.