1/ Allow me a thread on this German $tsla & @elonmusk documentary. First, thank you, @russ1mitchell, for calling it to our attention. And, yes, it is well done, and it was heartening to see @CristinaIBalan have an opportunity to tell a small part of her story.
2/ One hesitates to quibble at a production so fine, but there are some serious shortcomings that should be mentioned...
3/ ...For instance, the idea that Musk was responsible for the success of PayPal is nonsense, and has been amply debunked by many, most especially by @Tweetermeyer in his superb book, Ludicrous. Still the best book out there about both Musk and Tesla. amazon.com/Ludicrous-Unva…
4/ Also, Musk may put humans on Mars? It won't happen. The entire Musk-Mars narrative is, as many science writers have demonstrated, utterly absurd. There are only two explanations for Musk's claims...
5/ ...First, as @CoverDrive12 postulates, he is testing the gullibility of his media & cultist followers. (If so, he must be hugely encouraged.) Second, his immeasurable narcissism compels him to make such outlandish claims. Choose one. Or both. (I favor both.)
6/ Now, to errors of omission rather than commission. For example, it would have been useful to mention that Tesla's only profits come from picking the pockets (via regulatory credits) of people who don't want to buy EVs. Similarly, to mention his 2018 fraud (he can't deny it).
7/ Also, some mistaken assumptions. Tesla won't build 500k cars at that factory. It would have been useful to mention that Tesla sold fewer cars in Europe in 2020 than in 2019, and the number is lower than 100k. There is a huge overcapacity crisis about to descend on Tesla.
8/ All that out of the way, let's celebrate the documentary's glorious aspects. First, the starstruck behavior of German politicians, most especially Jörg Steinbach. The economic renaissance he's counting on will happen, but it won't be in Brandenburg. It will be in Shanghai.
9/ And, the sickening sycophancy of Jens Spahn, the Minister of Health, awarding COVID-denier Musk, the Axel Springer award. If it were fiction, it would not be believed. As @Andreas_Hopf has so often told us, this idiocy is a product of the zeitgeist.
10/ Also lovely, the way in which Musk, through force of celebrity, has brainwashed not only his followers, but also the German politicians and the press, into pretending that Brandenburg is really Berlin.
11/ Another brilliant aspect: the demonstration of how Musk simply runs over those who care about workplace safety. How he bullies the unions. And argle-bargles the environmentalists, who should be asking questions about his grossly exaggerated environmental claims.
12/ Let's face it: in Germany, as in the U.S., Musk is above the law. He can raze a forest & build a factory over a watershed without a permit. He can drill 500+ piles into the watershed, in violation of the law, with no material consequence.
13/ The politicians grovel at his feet. They crave his celebrity gaze. They shower in his greenwash. It is the zeitgeist.
14/ The documentary had simply brilliant graphics. The artists deserve an award.
15/ A final thing I really loved: the shots of Musk. Inarticulate, stuttering, corpulent. It was almost as if we were watching a drug-addled, spoiled brat, Afrikaner, raised by a twisted father and appearance-obsessed mother.
16/ I should have added a direct link to the documentary. Here it is: zdf.de/politik/fronta…
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1/ Cathie was one of the two $tsla bulls on a “Tesla debate“ panel at the 2018 Robinhood Conference (no, not that Robin Hood). Gordon Johnson & I were the bears. Looking Cathie in the eye on that occasion, I couldn’t decide whether she was crazy or merely cynical.
2/ At the time, I thought Cathie’s Tesla target price of $4000 per share was insane. How wrong I was. Her target was not insane. The market was insane.
3/ But ask yourself: Who benefited from this insanity? Who fed it? With what motives? With what absurd projections and models? With what endless cynicism?
1/ The analysts think $TSLA will sell some 820k (+ or - 50k) cars in 2021, with more than 80% of the growth coming in China. MaxedOutMama & I say otherwise:
2/ Much of this article is the summation of a data-dense, fact-intensive blog post by MaxedOutMama. It's another superb piece of work by her. In a just world, she would have more followers than I do.
3/ There's also some detail about an intriguing new lawsuit alleging serious misbehavior by $TSLA regarding OTA updates to disguise battery degradation & evade warranty obligations. Thanks to @PlainSite for making the federal court complaint readily available.
1/ The last time Elon Musk faced a defamation claim, he richly deserved to lose. He smeared a true hero, Vernon Unsworth, calling him a pedophile. Some might suspect projection on Musk's part...
2/ Unfortunately, Unsworth hired L. Lin Wood (I'm now blocked by Wood, but his Twitter handle is @LLinWood).
The choice was not illogical. Wood had settled many high-profile defamation cases, though it appeared he tried few, if any.
3/ Wood's work in pretrial briefing and discovery was impressive. He survived various efforts to dismiss the case, and developed a powerful body of evidence for trial.
First, production. According to Tesla on 7/22/20, its quarterly capacity is now somewhere between 172,500 & 197,500.
2/ However, in no quarter this year has Tesla achieved even the low end of capacity.
Q3 is best so far, at between 84% and 73% of capacity, depending upon whether Tesla has, as it stated in its July 22 update, extended Fremont 3/Y capacity to 500k.
3/ Now, deliveries. Having guided to 500k for 2020, Tesla in Q3 achieved a delivery number exceeding the 125k/quarter needed.
However, the Q3 delivery number amounts to between 81% and 71% of installed capacity, again depending on whether Fremont is now at 500k 3/Y.
1/ A thread on $TSLA & $NKLA. Why one scam skates free of regulatory scrutiny while the other one comes under heavy governmental fire.
And why Tesla stock now soars higher than ever.
I'll outline two explanations, both of which were suggested to me by a friend.
2/ First, there can be only One True Church. One True Religion. One True Savior. The heretics must be stamped out. Read about how the Catholics dealt with Arianism; how Magisterial Protestants treated Anabaptists; how Sunnis handle Shiites (& vice versa). So many examples.
3/ Or, in the ideological sphere, where the warring factions seem to share most views, but attempt to exterminate each other: Stalinists v. Trotskyites; Bolsheviks v. Mensheviks. Many other examples.