Oct 14, 2008
Chris H. Earlier today Martin, or somebody claiming to be Martin, made this post on the Tesla Founders blog:
"Seems like more cabbage is going down at Tesla right now. Big cabbage, so it seems."
Martin, was this yours? If so, is it possible that you can elaborate? If not, then I'm sorry for making a fuss over nothing.
ATB,
Chris.�
Oct 14, 2008
vfx The next message says:
Hi Martin,
could you possibly elaborate?
ATB,
Chris.
Martin sez:
The company�s new CEO is �holding people accountable at all levels, and that starts at the top.� -Darryl Siry, Venture Beat, 11 January 2008
Comment by Chris Harvey October 14, 2008 @ 2:14 pm�
Oct 14, 2008
jsnable Pure rumor, but:
Rumormonger: Tesla said to lay off 100�
Oct 15, 2008
dpeilow Autocar - Tesla in trouble?
Autocar - Tesla in trouble?
�
Oct 15, 2008
DDB Sooner or later the financial mess was going to affect Tesla--I just figured later because the immediate concern seemed to be producing the Roadster for current customers who plucked down the cash. Although it's clear that a whole lot of capital (and credit) would probably be needed for its new plant for Whitestar. If it's true, Tesla will not be able to keep a lid on 100 employees leaving...and MANY would-be customers would be hesitant to put deposits on a car when the Company may not be around in a year. Tesla can probably count on oil going above $80 shortly, which may help.�
Oct 15, 2008
graham The Tesla Death Watch weighs in:
Tesla Death Watch 23: Tesla In Trouble. Or Not. | The Truth About Cars
�
Oct 15, 2008
malcolm I imagine that Zeev is quite keen to get back to enjoying his retirement - his departure could have been planned for a while now.
Or is he being 'Transitioned to the Tesla Retirement Home'?............�
Oct 15, 2008
WarpedOne Elon new CEO?
It could be funny but it's just sad.�
Oct 15, 2008
vfx Wow, a car company with the uncertainty of a Political campaign.�
Oct 15, 2008
graham Well, it has to be pretty difficult for them cash-flow wise. I assume all the deposit money they have taken in has been used for operating expenses to get them this far. So they now need to find money to build the cars already paid for, and set up the logistical nightmare of getting all the parts to the right place at the right time which I am sure costs more up front.
They received money in 2006-2007 for the cars they are building now. So the cars they have built thus far they have gotten no current money for. They have to pay for the parts to build at least 100 more cars before they start getting in any new money at all... and then it will be only be half the cost of the parts to build it for another several hundred cars. Eventually they will get to the point where the money paying for the car will actually pay for the car instead of for keeping the company afloat while designing the car... but they have a large amount of expenditures before they get there.
They have a bunch of new money coming in from the state and from San Jose, but that is all earmarked for the Whitestar stuff. Getting there will be hard unless they can squeeze out enough money to get to the Roadsters which actually bring in new money.
I can see them laying off half the company to get to that point, and then hiring the positions back next Spring/Summer when they have a revenue stream.�
Oct 15, 2008
tomsax Tesla Cash Flow
I don't think that's right. They have about 900 customers who have production sequence numbers, meaning they have put down more than the $5,000 initial deposit, plus somewhere around 300 more who have made just the 5k deposit. If we assume an average deposit of 60k, that works out to 900*60k+300*5k = $55.5 million, plus or minus $10 million.
We also know that Elon has put in about $60 million (as stated in his 60 minutes interview), plus tens of millions more from other investors. So, the deposits account for less than half of their cash input. Elon has also promised that he will personally guarantee that the company will remain afloat until all of the ordered cars are built. "You have my word," he said. (Owner's Town Hall in Jan, 2008).
When Cathy and I did our test drive in September, 2007, we asked Zak something about why they don't spend money on some improvement and his response was that they don't want to spend the owner deposits. So, I believe they are not just spending the deposit money and counting on new sales to finance the cost of building pre-ordered cars.
Tesla Motors isn't a sports car company. The Roadster is about developing EV technology, creating interest and making a modest profit. Tesla is more about Model S and Blue Star. I don't think they are foolish enough to bet the entire company on the cash flow from short-term Roadster sales, especially not before they have delivered enough of them to assure potential customers that they can follow through and deliver cars.�
Oct 15, 2008
Kardax I was about to post a reply, but then I see tomsax has written a much better one already
-Ryan�
Oct 15, 2008
Kardax Actually, if Tesla is still trying very hard to avoid spending deposit money, the layoffs could be for that very reason. None of the investors want to dilute their shares with another financing round, so cutting costs can help keep things going until Roadster production is at full speed.
-Ryan�
Oct 15, 2008
graham Oh? I was under the impression that the Signature 100 folks (and maybe others?) had all paid 100% for their cars back in 2006 or 2007. I didn't realize they had only put down a deposit as well.
Yup. I wasn't doubting his word, I was just lending credence to the rumor that they may decide to lay off 50% of the company to meet that goal.
Ah... very interesting quote. Perhaps I am very mistaken in my assumptions then. I had asked Tesla when I put my deposit down if they were going to use an escrow service like CommuterCars for the deposits. When I was told that they were not, I made the assumption they were using the money as it came in.
*nod* I agree. I was just speculating on the veracity of the 50% layoff rumor. One reason it may be true is to staunch their spending long enough to get through enough Roadsters that they pay for themselves and they start receiving the Whitestar loan money. If they have truly put all the deposit money aside, and they are currently receiving at least 50% of the car value while they build them, my musings may make no sense.�
Oct 15, 2008
graham Ah... The Register claims that layoffs have been confirmed by Tesla:
Layoffs, boardroom reshuffles at Tesla Motors ? The Register
So layoffs, and a demotion of Ze'ev... but not as much as half the company that the rumors claim.�
Oct 15, 2008
graham Some additional reports:
Greentech Media: Green Light Blog Archive Musk Takes Over as Tesla CEO
And Motor Trend -- mostly sourcing the Autocar rumor:
Short Circuit? Reports Claim Tesla Motors To Cut 100 Employees, CEO Included | Automotive News Blog - Wide Open Throttle�
Oct 15, 2008
tomsax Here's what I know about the deposits:
Signature 100 owners put 100% down, pre-paying for a fully loaded Roadster, non-refundable.
The next hundred (plus a few) put down $70,000 for a fully loaded Roadster, refundable until the lock-in date.
The next group could put down $50,000 or $30,000, with the smaller deposits going into line after the larger deposits. These owners get to choose options, like the speaker and head unit upgrade, the hard top, the mobile charger, etc., and are refundable until the lock-in date. This group filled out the 2008 model year.
The 2009 model year owners started with a $5,000 deposit, with a deadline to put down another $60,000 in order to lock in a production number. About 300 of these owners missed their deadline for the second deposit and were all moved to the end of the list in September.
Some owners in the 2008 model year bailed out and those slots are being sold at the end of the 2008 list. Customers who want one of those cars have to put down the entire $125,000 up front.
So, the deposits range from $30,000 to $125,000. $60,000 is just my guess at where the average is. The average depends most strongly on the split between $30k and $50k for the 400 2008 owners who came in after the second hundred. A more careful analysis suggests that the average deposit is between $55,000 and $57,000.
The deposits are not in an escrow account, and they are free to use it if they so choose. Thus if they go under, I expect we will lose our deposits. But, the deposts are not their primary source of capital. Also, I think it would be reckless to spend a significant portion of the deposits on anything other than direct production costs. I trust Tesla to be more responsible than that.
Cash flow arguments aside, I can't imagine they could lay off half of the company and continue work on Model S without totally blowing their late 2010 goal.�
Oct 15, 2008
Alpine Driver just not to forget the european deposits, EUR 50.000,00 which are - at the moment - about USD 67.500,00.
There are different figures saying something between 70 and 100 EU-spec cars are sold - but this info is a month old.�
Oct 15, 2008
TEG Don't forget that they intended to fund "Model S" (AKA "Whitestar") from an IPO.
It seems like general market conditions for an IPO look rather dodgy at the moment...�
Oct 15, 2008
malcolm Quick people!
Take one last look:-
Tesla Motors - our company
Tesla Motors - our company�
Oct 15, 2008
Cobos Too late, Musk is listed as CEO now and Zeev as vice Chairman...hmm... why the constant changes in the CEO position?
Cobos�
Oct 15, 2008
malcolm All hail Plankton!
Tesla Motors - think�
Oct 15, 2008
raymond So Elon says...
Close down Rochester Hills (Detroit), delay model S to 2011, cash-flow positive in 6-9 months.
the blog�
Oct 15, 2008
dpeilow Wow, they wasted no time updating that.�
Oct 15, 2008
malcolm Indeed
new thread started http://www.teslamotorsclub.com/news-articles-events/1737-all-hail-plankton.html
Update: moved to third post above here
�
Oct 15, 2008
graham I would hope so too... although obviously they are having some sort of cash flow issues.
Yes :-(... I am bummed that the Model S is being delayed. It sounds like from their web site they are doing exactly what I was thinking earlier: Lay off a bunch of people until the loans come in for the Model S, and then hire people back. Seems like a short sighted plan unless you are very cash strapped.�
Oct 15, 2008
TEG (nevermind)
�
Oct 15, 2008
graham From the LA Times:
Tesla Feels Credit Crunch | Up to Speed | Los Angeles Times
This is the first I have heard they are reducing head count in England as well.�
Oct 15, 2008
dpeilow I had thought that was on the cards anyway: The design work on the Roadster was done and I didn't think they would use these staff on the model S. Of the ones I have met, most (if not all) seemed to have come from Lotus. I wonder if they will find their way back there. One told me that after 30 years, he had lost interest in working on ICE vehicles now :smile: Let's hope he can continue to.�
Oct 15, 2008
graham Seems like so many electric cars are using the Lotus platform now that there should still be non-ICE options for him there without having to move.�
Oct 15, 2008
tomsax What makes it "obvious" that they are having cash flow problems? Elon pretty clearly stated that they expect to be cash-flow positive in six to nine months, and that it won't be a problem if it takes longer. How long did it take Amazon to make a net profit?
My take on this is that the Model S factory delay is impacting their schedule enough that the environmental impact approval is critical path, so it doesn't make sense to keep moving forward on some fronts, like supplier selection and contracts, until they have some idea when they are going to be able to start building the production facility.
This seems like a great time to trim the headcount, let some less critical and/or productive people go. I wouldn't expect them to hire those same people back later, especially if they have determined that their performance was less than stellar.
If you've ever been involved in hiring people, you know that no matter how good your interview process is, you hire some people that underperform even if they aren't terrible enough to fire them outright. Cost trimming is a good excuse to let underperformers go to make room for better hires later. That's just good business, not a sign of desperation.�
Oct 15, 2008
malcolm Correct as always, TEG
And I'm keeping this one, just in case it gets taken down:
- MartinSez wrote on October 15th, 2008 at 1:03 pm
There is a lot I could say, but I won�t say it. Net net, I�m not surprised, Elon. You and this company still have a lot of growing up to do.
Bwahahahahaha!�
Oct 15, 2008
dpeilow Maybe it has been already.
�
Oct 15, 2008
TEG No, he meant over here.�
Oct 15, 2008
dpeilow Ah thanks - I was having stale cache issues...�
Oct 15, 2008
Chris H. Malc,
it looks like that poster calling himself "MartinSez" was not Martin Eberhard. ME made this post five hours later:
" martin eberhard wrote on October 15th, 2008 at 5:59 pm
ATB,
- I want make it clear that the poster calling himself �Martinsez� is not me.
Martin Eberhard"
Chris.�
Oct 15, 2008
dpeilow Any thoughts?�
Oct 15, 2008
graham Email from Elon: The contents of his blog post just hit my inbox. I assume all owners received the email as well. It seems to be the exact contents of his post, no new info. Interesting that they are mailing it out in addition to the post (and the press, etc).�
Oct 16, 2008
malcolm No I wasn't saving the post because I thought it was Martin's, he would never make such a comment.�
Oct 16, 2008
AGR Its sad news, and perhaps a step backwards for the entire electric car mouvement especially that Tesla had become the "poster child" of electric cars.
When a manufacturer spends millions opening dealerships with hardly any cars to sell or service, spends more money creating a presence in the European market on the assumption that with the exchange rate they will make more money. Its distracting to the task of building and delivering cars to customers.�
Oct 16, 2008
bill Tesla's Future
<<<<< The Tesla investors and I are unequivocally dedicated to ensuring the success of Tesla. If you have bought a car from Tesla or are thinking of doing so, please know that I personally stand behind delivering a product that you will love and continuing to develop new models in the future. >>>>> Quote from Elon
After a string of failures Elon stated very strongly that he was standing squarely behind Space X. It now appears that they have turned the corner. Now, he is showing the same spirit at Tesla.
I realize that he has received a lot of criticism on this site, however, looking down the barrel of a steep recession, I believe his dogged determination and persistence is just the leadership Tesla needs to survive and prosper.�
Oct 16, 2008
thejump Tomsax - You're assuming that the down payment from the 900 customers hasn't already been spent trying to keep the company afloat. Why do you think the money's still there?�
Oct 16, 2008
dpeilow Tesla cancels new model, fires CEO, will lay off large part of workforce�
Oct 16, 2008
graham Wow... a whole bunch of wrong in this article. Who is this person who is apparently paid to rant so many factual inaccuracies and specious correlations?
My favorite part was this though:
Apparently, Elon is Catholic!�
Oct 16, 2008
dpeilow I made a comment - it hasn't appeared yet.
If you read some of his other postings, you will see he is anti-electric, anti-solar and ex-Detroit (even anti-LED lighting).�
Oct 16, 2008
graham Commentary on the commentary. Does that mean we have now gone Meta?
Bloggers Castigate Tesla Motors for "Militant" Management Style After Fresh Shakeup
�
Oct 16, 2008
tomsax I'm not assuming anything.
My post was in response to an earlier post that seemed to assume that Tesla has spent all of that money. My post just pointed out that Tesla has other, larger, sources of capital and thus could have done as much as they have without spending some big chunk of the owner deposits.
If you read the rest of my post, I make it pretty clear that I don't assume they haven't spent the deposits, but I think they are smart enough to not be in that situation.�
Oct 17, 2008
dpeilow Tesla axes jobs, temporarily clamps 'affordable' electric car | Register Hardware
The Google Alert for this said "Tesla axes 250 jobs, temporarily clamps 'affordable' electric car"
250? It seems to have been rewritten in the meantime - do they even have 250 jobs to axe?�
Oct 17, 2008
doug Jalopnik is based in Detroit.
Financiapocalypse: Automaker Lays Off Detroit Office With Blog Post
Tesla Motors: Tesla To Finally Notify Detroit Workers Today They Were Laid Off Two Days Ago
�
Oct 17, 2008
tomsax I'm getting bored with reading the same angle on Tesla's recent news over and over.
Here's my take:
Tesla Motors - Its's not just the economy, stupid! - Tom's Blog
Was anyone else surprised to hear they are already making a profit on selling their powertrain to other car companies?�
Oct 17, 2008
graham This is great blog post, Tom. And a good point about the power train issue. I hope they get to elaborate on that part of the business soon.�
Oct 17, 2008
dpeilow How about this?
Tesla Tastelessly Tosses Their Team : Boy Genius Report
Electric Car: Tesla Lays off 90% of Detroit Staff in Douchey Way�
Oct 17, 2008
vfx More dazzling PR.�
Oct 18, 2008
malcolm Thanks for the point about the powertrain side of the business Tom. It is a shame that the original T.E.G. was a great idea before it's time.
I agree. History tends to gloss over the fact that many great achievements are accomplished by difficult individuals.
We want to have our cake and eat it - we want Tesla to survive and yet we want the company to eschew the hard-nosed practices of American business.�
Oct 18, 2008
dpeilow Here's a report that seems to be a distilled version of this whole thread:
BetaNews | Green-vehicle manufacturer Tesla does dirty by its staff�
Oct 18, 2008
vfx Breathtaking HR too.�
Oct 18, 2008
DaveD Has anyone seen an article with a substantiated source quoted in it, regarding Tesla's notification of the Michigan staff? I've read all the articles that I can find about this, and so far have only found an "anonymous Telsa source" referenced in one of the articles. I'm not saying that the story being reported is incorrect, but I'd like to see more sources before I take these articles/blogs at face value.�
Oct 18, 2008
graham I have not seen anything more substantial. Every report seems to refer that one original report.
I did talk to some Tesla employees (in California) late Wed night. They told me there was to be a big company meeting on Thursday morning where Elon was supposed to better detail the plans for the future. I bet a lot of people got officially informed then or soon thereafter.�
Oct 18, 2008
mittelhauser I have no details on the handling of the MI office but the California Tesla folks I talked to in the last two days actually thought that this layoff was handled better than the last one. They appreciated that it was all done in one fell swoop upfront rather than having a long stretch of days/weeks where everybody was going in and not sure if they were going to find a pink slip.�
Oct 18, 2008
TEG This old article (January 2008) had been rather critical of what happened before.
Really unfortunate to see more of this. We all want to see them GROW and prosper not have to "hunker down".�
Oct 19, 2008
graham From the Tesla Motors twitter feed:
Twitter / TeslaMotors: The Jalopnik articles rela ...
�
Oct 19, 2008
siry I just posted this on Jalopnik:
Andrew,
The whole thing about a bulletin board with names is completely fabricated. I think you were duped by your "source." There was no bulletin board with names of those laid off. It just didn't happen.
It is true, unfortunately, that the blog post outlining the strategic rationale for the cuts the company was taking mentioned that the RH office would eventually be closing down (it was not closed down Friday contrary to reports, nor were 90% of people laid off). This should have been told to the folks at RH in person before it was on a blog. That was a mistake, but by no means was anyone "laid off by blog." Every person who was impacted met with their manager to receive the news on Friday.
Darryl (from Tesla)
____________________________�
Oct 19, 2008
graham Siry is back! Yay!�
Oct 19, 2008
Cobos Yes, definately good that Darryl is posting here again!
Cobos�
Oct 19, 2008
stopcrazypp Nice to see you back Darryl, it helps to have someone clarify the situation with these kind of stories, as I have seen them not only at Jalopnik but also in some gadget blogs.
For example:
Electric Car: Tesla Lays off 90% of Detroit Staff in Douchey Way
Tesla CEO: "Extraordinary times require focus"
Anyways, we are rooting for Tesla to pull through and hope to see Model S soon.�
Oct 20, 2008
TEG Yes we are!�
Oct 20, 2008
graham The Truth About Cars are of course running with the Jalopnik version of the story:
Tesla Death Watch 26: Death By Blog | The Truth About Cars
But Jalopnik does now have an "Update" at the top of the article:
But their one-sentence "Update" doesn't really serve as much of a retraction.�
Oct 20, 2008
mt2 Welcome back, Darryl. The media sure isn't much for checking their facts anymore, are they? Nice to hear some of the real story from an official source.�
Oct 21, 2008
flabby Daryl
It certainly is good to hear from you again.�
Oct 21, 2008
graham Tesla CEO Details Delaying Raising Funds and the Model S Earth2Tech
�
Oct 22, 2008
dpeilow Tesla Motors: A Peek Inside The Soon-To-Be-Dead Tesla Motors Detroit Office�
Oct 23, 2008
dpeilow Driving Tesla Near The Edge, Or Over? | Hybrid Cars�
Oct 23, 2008
malcolm There is a very long way to go before Tesla is over.�
Oct 23, 2008
Cobos Yeah it seems the biggest problem is everyone is worrying about the fact that Tesla only has delivered around 50 cars. When they also got around 50 cars now in different stages of finished, it does take 6 weeks for the ship to cross the ocean and I doubt they are sending the cars one per ship. It seems to me they are delivering more cars than Think actually is, and noone is talking about them going under...
Cobos�
Oct 23, 2008
vfx �
Oct 23, 2008
dpeilow Technology start-ups face the downturn | Fright night in the valley | The Economist
Good point.�
Oct 23, 2008
TEG Yeah, that article sums up the "slam on the brakes!, potholes ahead!" attitude that seems to have happened recently.�
Oct 23, 2008
graham BusinessWeek: Electric Carmaker Tesla Downshifts
Article from businessweek that includes the sneak peek photo of the Model S which doug posted in the Whitestar thread.
This is the entire article which is more about the changes in management etc of Tesla in general, so I posted it here:
Electric Carmaker Tesla Downshifts - BusinessWeek
�
Oct 23, 2008
stopcrazypp From that article they say the Roadster was initially over budget by $40k. And also they had to cut costs, with one cut replacing the transmission handle with a button. Didn't realize they were that over budget with the Roadster.�
Oct 23, 2008
graham Yes, they mentioned the cost overruns in the article linked in this thread:
http://www.teslamotorsclub.com/news-articles-events/1335-fortune-magazine-teslas-wild-ride.html
�
Oct 23, 2008
TEG I think the original plan called for sales of Roadster to fund development of future models... Doesn't work out if it isn't profitable.�
Oct 24, 2008
vfx This is great! I always felt the vestigial gear shift knob was like Mauricio Wilson's appendage.
It should go the way of the Tach.�
Oct 24, 2008
TEG Like the Dodge EV?
�
Oct 24, 2008
doug TTAC took this to mean that Tesla is losing $40K per car. Someone needs help with reading comprehension.
Tesla Death Watch 28: �Lost� $40k per Roadster, Reveals WhiteElephant�s Rump | The Truth About Cars�
Oct 24, 2008
vfx Motor Trend
�
Oct 24, 2008
graham This is a reasonable concern as the Whitestar design has been set to be released "in about 3 months" for a year now. I am sure some are beginning to wonder if last weeks delay of the project are more from problems of the design than from just the economic woes given.�
Oct 24, 2008
Cobos Especially since in that very same article it says they changed several of their suppliers which cut thousands of dollars off the production cost. I wouldn't be too sure they are making much money on each car, but I'm pretty sure we are talking at least $20 000 on the $119 price and probably upto $40k on each.
Cobos�
Oct 24, 2008
vfx I like the big knob idea.�
Oct 24, 2008
bill Future
For the time being I don't see that Tesla has problems. Elon is making good financial moves. They are producing cars and should be fine through the end of 2009. Somewhere out here is where the problems could get tough. We have to count on roadster sales holding up through next year, maintaining a good backlog. ESS sales should help, but we're all in the dark about that side of the business. A major battery update might help trigger a new surge of sales. I think it's worth a try.
At the start of 2010, without whitestar and roadster sales, Tesla could be struggling. Right now all is fine. Let's enjoy the ride.�
Oct 24, 2008
Cobos I'm in agreement with Bill. Currently they should be doing great. They've got a big backlog for Roadster production and they are earning money on each Roadster. The problem as he said is when the most eager and the richest persons already have theirs. The people for whom $120 000 is a big outlay for a car but doable might think twice about the Roadster in 2009. Either they really want it and got it in 2008-2009 season or they decide they can't afford it. So 2010 would be essential, they might not be able to sell all the Roadsters they then can make each year.
Or perhaps the fact you can see it, drive it and take it home the same day will close the sale for many people. I don't know, and I'm not very good at predicting the future I suppose
Cobos�
Oct 24, 2008
doug Layoffs
Looks like 24% (87 out of 363) of the workforce got laid off.
http://www.mercurynews.com/drive/ci_10808263
http://video.msn.com/video.aspx?mkt=en-us&vid=dff73bf5-31f8-4515-ac91-6c5aa1375d77&fg=rss
Musk Unplugged: Tesla C.E.O. Discusses Car Troubles - Green Inc. Blog - NYTimes.com
Tesla Cuts 20% Of Workforce - Forbes.com�
Oct 26, 2008
dpeilow Electric Sportscar Maker Deals With Market 'Freefall'�
Oct 27, 2008
malcolm Have we missed this one?
More Sparks From Tesla - Wheels Blog - NYTimes.com�
Oct 30, 2008
dpeilow Another ridiculous (and misinformed) obituary.
Matthew DeBord: The Dream of the Electric Car Runs Out of Juice...for Now�
Oct 30, 2008
graham Yes, and of course TTAC picked up the Huffington post article:
Tesla Death Watch 31: HuffPost Pronounces T.O.D. | The Truth About Cars
But I am not sure I understand the logic behind the Huffington Post article:
First off, "lay off half its work force" is quite overstated. delay delivery of the Roadster is incorrect (nice fact checking there...). But the logic for the rest of it seems to be: Tesla gave us too good an electric vehicle. Somehow the existence of a usable electric prevents us from *really* getting off oil.
Does anyone else understand this logic?�
Oct 30, 2008
vfx Read the Huffington Post comments. Darryl is on it pretty quick.
Also check out the gossipy Post from dublinmotor.�
Oct 31, 2008
dpeilow Autocar - Tesla trims UK workforce�
Oct 31, 2008
graham I actually read this as good news. I thought things were going to be worse in England than this.
Does anyone know if actual Roadster assembly is done by Tesla employees or contracted to Lotus?�
Nov 9, 2008
TEG Sequoia Capital�s 56 Slide Presentation Of Doom
wicked outdoorsy: The Sequoia memo: "Get real or go home."�
Nov 10, 2008
vfx
I think Elon read (or wrote) slides 46 and 47.�
Nov 11, 2008
graham Sigh.... I seriously hope this article is mistaken.�
Nov 12, 2008
TEG Valleywag story: Schemes: Is Elon Musk aiming to take over Tesla?
Valleywag followup: Tesla Motors: My evening with Elon Musk�
Nov 13, 2008
thejump Roadster loosing $50k per car???
Tesla Motors: My evening with Elon Musk�
Nov 13, 2008
vfx San Francisco burns coal?�
Nov 13, 2008
dpeilow The old "long tailpipe" argument refuses to go away.�
Nov 13, 2008
graham TEG was discussing this article over in this thread: http://www.teslamotorsclub.com/news-articles-events/1731-tesla-layoffs-management-changes-11.html#post14659
I think the $50,000 number was previous to Martin being let go. With many cost-reductions occurring before they started production, they have claimed they will be "cash flow positive" by the upcoming Spring. There is no way that could occur is the car still cost so much more in parts than they sell it for.�
Nov 13, 2008
doug I don't get why ValleyWag is so down on the Roadster. The author refused a test drive and basically chose to be uninterested in a thrilling ride. Their niche is Silicon Valley gossip, and I guess negative gossip gets more page clicks than positive.�
Nov 13, 2008
graham Yeah, when I read that I knew there was no hope of a rational article from this person.�
Nov 13, 2008
vfx This was the line that got me.
Talk about a guy who sucks the energy out of a room, at a party he must be as fun as Droopy Dog.�
Nov 13, 2008
doug I was thinking Debbie Downer myself.�
Dec 28, 2008
TEG Another quote:
Is this the first we have heard that they still have a Michigan office?�
Dec 28, 2008
doug I was told a couple months ago that they still had some people in Michigan, though down sized.�
Dec 28, 2008
vfx The part about Elon spending most of his time running Tesla is a complete switch from last report of his time spent.
Does that mean he has moved his priorities or his rhetoric?�
Dec 28, 2008
graham Oh no, this is semi-old news. Back in September or October or whenever it was that Ze'ev got replaced by Elon (and shortly after the successful SpaceX orbit), he announced his intention to focus his attention mostly on Tesla over SpaceX, Solar City, etc.�

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