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Such deals are reasonable under some circumstances. For example, Tesla pays SpaceX for Musk's travels on the SpaceX jet (whenever he travels for Tesla-related b
by blackhawkC17 3y ago
Such deals are reasonable under some circumstances. For example, Tesla pays SpaceX for Musk's travels on the SpaceX jet (whenever he travels for Tesla-related business).
But definitely not for a company with just a few $100k in annual revenue that's teetering on bankruptcy. Not surprised it's a SPAC stock...
Edit: Upon digging; I discovered that this CEO has invested $230 million+ in Canoo (from personal funds he made selling his previous company)...this article is almost a nothing burger.
- deleted 3y ago[deleted]
- nytesky 3y agoIt’s a public company, he can’t treat it as his private company even if he invested $230M and it’s only worth $150M now and he’s trying to make up for his losses