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...while he was getting loaned $200,000 a month for personal expenses by his billionaire buddies. https://www.cnbc.com/2017/04/27/the-crucial-decision-teslas-e
by KennyBlanken 2y ago
...while he was getting loaned $200,000 a month for personal expenses by his billionaire buddies.
https://www.cnbc.com/2017/04/27/the-crucial-decision-teslas-elon-musk-had-to-make-when-he-was-broke.html https://www.cnbc.com/2017/04/27/the-crucial-decision-teslas-...
Also, that may have kept tesla and spacex 'afloat' but what really saved both companies was billions upon billions of dollars in government contracts, subsidies, preferential loans, and tax breaks. Nevada alone gave nearly two billion dollars to Tesla.
- petesergeant 2y agoThe government is expecting something in return for these breaks rather than them being some kind of gift, though.
- nick7376182 2y agoAnd the government got it, in the form of a cost effective usa-based launch solution.
- oblio 2y agoThe government is not monolithic and politicians might except other things than what their constituents want. It's a bad test of the value of an investment.
- petesergeant 2y agoFor sure, and it may well have been a terrible investment with terrible returns, but selling to the government and responding to government incentives is an entirely legitimate thing to do, rather than some kind of inherent weakness in a company’s model. A company being “saved” by a government contract is a company being saved by making sales to its largest customer.
- kelnos 2y agoExpecting, perhaps, but in general there's little to no penalty if those expectations are not realized.