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> $7k (x 2) at the time, reason was to help Tesla survive. Man there is something truly remarkable about Musk that he successfully convinced some people to, in
by CarelessExpert 5y ago
> $7k (x 2) at the time, reason was to help Tesla survive.
Man there is something truly remarkable about Musk that he successfully convinced some people to, in effect, treat Tesla, a for-profit company, as a charity and to donate to them thousands of dollars with no expectation of anything in return.
Any other company would just raise money from investors, whether those be institution or from main street via the stock or bond markets.
But Tesla just sold folks a dream and they bought it, allowing Tesla to generate cashflow without Musk having to worry about pesky shareholders or dilution or even delivering a working product.
I suspect that phenomenon will be studied in business school for years to come.
- natch 5y agoI did get something in return, and the car has arguably saved my life once or twice, so there’s that.
- xkjkls 5y agoYeah, Musk is the second richest man on the planet, but somehow he's also always begging for cash. Reminds me of a former massively wealth president of ours who begged donors to fund his campaign. Two peas in a pod.