3 ms·
At that point Tesla was 3 guys with an idea and no money. They got $7.5M of investment, of which $6.5M was Musk's money (and he became chairman). I count that a
by oskarkk 1y ago
At that point Tesla was 3 guys with an idea and no money. They got $7.5M of investment, of which $6.5M was Musk's money (and he became chairman). I count that as "starting Tesla", as without his money nothing would happen (first big money from other investors came 2 years later).
- inemesitaffia 1y agoThose people also had the cash to invest. They had more cash than Musk put in. They didn't even have the right to the name. Had to buy it from some Euro company
- oskarkk 1y agoThey surely had some cash, but I think it was a small contribution compared to Musk's. Given that Musk was $6.5M out of $7.5M series A, and something like $9-10M out of $13M series B, I think it's not possible they contributed more than Musk, unless they put big money into it right at the start (unlikely). I count find any concrete information about how much money the two actual founders contributed (which I consider as evidence that it wasn't much). Do you have some sources on how much they invested?
- inemesitaffia 1y agoI'm not saying they put in more cash. I'm saying they had more cash but left it in the bank rather than investing
- oskarkk 1y agoAh, okay. So it was 3 guys that didn't want to put much of their money into Tesla, and Musk who did.
- inemesitaffia 1y agoYup. That's the skin in the game that matters. Even more than giving up productive effort elsewhere