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They needed Musk's pledge of $1B to remain non-profit. When he took back that money, their only choice was to either A) shut-down or B) go profit. I think mos
by qarl 2y ago
They needed Musk's pledge of $1B to remain non-profit. When he took back that money, their only choice was to either A) shut-down or B) go profit.
I think most people (aside from Elon) are happy they didn't shut-down.
- indoordin0saur 2y agoIf I remember correctly, they started a for-profit side business (initially to bring in a little cash) and Musk was concerned about the way it was developing and who was gaining power over the company as a result. Perhaps he just wanted to stay in charge and didn't like other VCs moving into his turf, but it's also apparent that his expressed concerns at the time proved wildly accurate.
- qarl 2y agoHm. I've never seen anything about a for-profit side business before Musk left. Do you have any references for that?
- qarl 2y agoYeah, I've Googled around and even asked ChatGPT. There seems to be no record of a for-profit side business. At least before Elon left. Of course they created one about a year after he left, because they're were running out of money, and would need to shut-down otherwise. I can understand not wanting Elon to be the head of your company. His behavior is a little erratic.