5 ms·

Specifically: he realizes he has no time to work on it no matter how promising it is.

• stcredzero 13y ago
  That's not exactly "backtracking." Also, there's something strained about the structure of the article, like they were trying really hard to put as much negative spin in before they had to say "Tesla is doing well." They could have out and said: Tesla's doing well, but GAAP...etc, and left out 3 paragraphs.
  • revelation 13y ago
    They make it seem as if Tesla is doing shady accounting, but they explain in the very beginning of the shareholder letter: In this letter and going forward, we will report our results on a GAAP basis as well as on a non-GAAP basis, excluding lease accounting. We believe these non-GAAP financials are useful as they align with the underlying cash flow activity and timing of vehicle deliveries, and because we use such information internally for operational management and financial planning purposes.
    • benjamincburns 13y ago
      Further, reporting non-GAAP figures alongside GAAP is fairly common practice. In some cases I view it as an increase in the honesty of the reporting. They're adding information here, reporting things they don't otherwise need to.
• bloaf 13y ago
  Specifically: the hype it is getting has been distracting people from the performance of Tesla.