Post

For new $TSLAQ

Thomas Hansen@thomashansen.bsky.social

Reminder: When legendary journalist Bethany McLean @bethanymclean.bsky.social wrote a story about Enron the headline was: “Is Enron Overpriced?” When she wrote a story about Tesla, SolarCity & securities fraudster Elon Musk the headline was: “HE’S FULL OF SHIT” #FairWarning $SPCX $TSLA $TSLAQ

419 scam. Self-driving ketamine; Thailand cave submarines on Mars; monorail centers in orbit; absolutely no way to fire the CEO - like the grammar and spelling errors in the email from the Nigerian prince, placed to weed out all but malleable idiots.

again you'll notice that Axios can't be bothered to mention to readers, even in ambiguous passing, that there's something foundationally very wrong with Elon Musk

Completely agree. However, there are enough people with enough money who think he is the greatest entrepreneur of his generation and as a result "the market" values his role as the part-time CEO of Tesla and Space X as being worth at least $1 trillion in market cap each.

"everyone thought" is doing a ton of heavy lifting there. Like a man of the universe level of lifting.

What particularly troubles me is this isn’t a business where exponential growth is just a harmless expansion. We are talking about literally flooding low earth orbit with debris. SpaceX justifying its valuation would make Kessler syndrome a near certainty.

the starlink stuff isn't even half built and there's already everything from significant impact to ozone layer to massive harms to astronomical research in a country where Musk elected a government that just lobotomized all our regulators great stuff

Musk’s legacy could well be *ending* access to space for humans. Not as some kind of political/regulatory result. Because he’s made it physically impossible to penetrate his debris cloud.

What kind of financial trick have they used to make Starlink appear profitable? Its capital costs alone are not far off $10 billion a year.

Google AI: "Commercial operators like SpaceX, are actively working to mitigate this crisis through Active Debris Removal: Developing robotic spacecraft to capture and de-orbit large, dead satellites." Not a chance that could that make things worse, right?

"A company claiming to be worth $1.75 trillion reporting a $4.9 billion net loss on $18.67 billion in consolidated revenue for 2025, all run by a white supremacist fake engineer with a head full of cottage fucking cheese" - great line, hope Goldman and Morgan Stanley will put it in the offering

Okay, but regarding whichever editor came up with that title, was there anybody who thought this company was a 'behemoth'? Pretty sure it is an even divide between those who know Musk runs bad businesses, those who want in on a pump-and-dump, and members of the Musk personality cult.

the AI stuff is going to be such a massive loser for them, it's going to be great fun watching this all go to hell over the next 5 years

And what fucking AI? I thought they made space rockets, which is pretty much the polar opposite of AI. They want to be a company that sells AI-related enterprise applications, and shoot up a couple of rockets on the side? Sounds like a sound business plan.

Yeah, you’ve heard of personalist regimes? Musk’s scam companies are personalist businesses. Nobody is investing based on the balance sheet or cash flow. They’re investing based on the nonsensical proclamations of a Nazi ketamine junkie. How far would Tesla’s stock price crash if he had a stroke?

Unfortunately it probably will go fine. Tesla exists at a valuation that far exceeds what makes sense. It'll basically be another meme stock.

Those numbers imply a price-to-sales ratio of 93. NVIDIA's P/S is 23, which is high even for tech companies. 93 is utterly laughable, and anybody who invests in this scam deserves what they get.