Tesla CEO burned by mistrust - LotusTalk

Wimbledon · 03-04-2009, 04:48 PM

charliex · 03-04-2009, 04:51 PM

epic fail.

craracer · 03-04-2009, 05:36 PM

During times of monumental stress people often do things, which at the time sound logical, that might be otherwise considered bizarre at best.

dfa2100 · 03-04-2009, 05:40 PM

Quote:

Originally Posted by craracer

During times of monumental stress people often do things, which at the time sound logical, that might be otherwise considered bizarre at best.

I don't know if being the CEO of a company could be considered monumental stress. Or did something in particular happen that made this guy go off his rocker?

...m... · 03-04-2009, 05:51 PM

...it's a damned shame to see a noble concept once again discredited by greedy mismanagement, but if tesla burns they'll have brought it on themselves...

BRTHTAKR · 03-04-2009, 06:07 PM

Sorry to steal this pic, but it just fits too well

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craracer · 03-04-2009, 07:28 PM

Quote:

I don't know if being the CEO of a company could be considered monumental stress.

From what I understood, and I could be wrong, the company is close to bankruptcy. What I was attempting to convey is that I would imagine trying to salvage a company (and your job) during these difficult economic times might be fairly stressful. This doesn't even take into account any other personal-life problems this guy might have.

IamBatman · 03-04-2009, 07:37 PM

Elon Musk is a tool who got lucky with one idea (Paypal) and now he thinks he can run a car company.

Aedo · 03-04-2009, 07:39 PM

Quote:

Originally Posted by dfa2100

I don't know if being the CEO of a company could be considered monumental stress. Or did something in particular happen that made this guy go off his rocker?

Are you being serious? Do you think running a company developing an expensive new technology in times of financial hardship is a walk in the park???

charliex · 03-04-2009, 07:40 PM

they picked up $40 million in december from investors, seems unlikey they've used that up already, though you never know!

AgentTripleX · 03-04-2009, 08:38 PM

I want to say something, but I believe I signed a NDA as part of my separation agreement.

Gizmo3000 · 03-04-2009, 08:59 PM

Quote:

Originally Posted by charliex

they picked up $40 million in december from investors, seems unlikey they've used that up already, though you never know!

That's less than what GM burns thru in a single day!

Monsi · 03-04-2009, 10:44 PM

Quote:

Originally Posted by AgentTripleX

I want to say something, but I believe I signed a NDA as part of my separation agreement.

I hope you made out on the deal

IamBatman · 03-04-2009, 10:45 PM

Quote:

Originally Posted by AgentTripleX

I want to say something, but I believe I signed a NDA as part of my separation agreement.

where are you working now?

Monsi · 03-04-2009, 10:59 PM

Quote:

Originally Posted by IamBatman

where are you working now?

Cars Dawydiak - San Francisco, CA | Facebook

dfa2100 · 03-05-2009, 05:45 AM

Quote:

Originally Posted by Aedo

Are you being serious? Do you think running a company developing an expensive new technology in times of financial hardship is a walk in the park???

It may not be a walk in the park, but it is no reason to get pushed over the edge. What's going to happen, he's going to lose the millions he's invested? He has more. He'll still be alive if the company fails. It's all self-induced stress. If he can't handle it, he shouldn't be the CEO. There are plenty of people out there that deal with more stressful jobs that don't freak out and go running out of control.

Bavarian Motorist · 03-05-2009, 06:19 AM

The bigger picture here is that he doesn't want this information, true or not, to be leaked because it makes the company look financially insolvent and that hurts investment and sales opportunities. It's not really about trust as you can tell from the article...didn't bother telling any execs.

And he knows that trust isn't going substantiate the company. Seems like a desperate measure to me.

Aedo · 03-05-2009, 06:27 AM

Quote:

Originally Posted by dfa2100

It may not be a walk in the park, but it is no reason to get pushed over the edge. What's going to happen, he's going to lose the millions he's invested? He has more. He'll still be alive if the company fails.

True - I just disagreed with your original assertion that it was a stress free.

Quote:

Originally Posted by dfa2100

It's all self-induced stress. If he can't handle it, he shouldn't be the CEO.

Self induced stress is still stress - but I agree with the last bit

Quote:

Originally Posted by dfa2100

There are plenty of people out there that deal with more stressful jobs that don't freak out and go running out of control.

Also very very true!

SweetDaddyD · 03-05-2009, 07:45 AM

I guess I sounded like a jerk when I was saying it before, but now it's looking like there is an echo in here.

What a d!(#.

I saw some Tesla matchbox cars in the store yesterday and half thought about picking one or two up figuring they would be a collectors item soon, but even in that small regard and for personal gain I didn't really care to show that inkling of support for Musk.

SteveLevin · 03-05-2009, 08:26 AM

What Musk is dancing around is that right now, if the company goes under, people holding deposits get nothing unless the company's assets are sold for more than $40 million (the recent round of funding, which is secured debt) plus any other secured debt lying around.

Unlike conventional deposits, where you would expect them to sit in a safe escrow account, for a Tesla deposit, you had to agree to allow the company to use the money for working capital -- making you an unsecured debtor in the case of bankruptcy.

And while Musk has said that he would make sure that didn't happen, he hasn't actually done anything about it. (for example, to put money equal to the existing deposits in escrow).

Steve

03-04-2009, 04:48 PM	#1 (permalink)
Wimbledon Registered User Join Date: Feb 2007 Location: USA Posts: 213	Tesla CEO burned by mistrust Leaks: Tesla CEO in Digital Witch Hunt

03-04-2009, 04:51 PM	#2 (permalink)
charliex OSX Black hat Join Date: Feb 2005 Location: Las Vegas , NV Posts: 9,935	epic fail. __________________ Black Exige S - http://goth.am 265 Mule / Elan M100.ECU Tuning, http://www.elisetalk.com/forums/showthread.php?t=39660 West Coast Lotus Meet - Las Vegas - November 6-9 2009 http://www.westcoastlotus.com/

03-04-2009, 05:51 PM	#5 (permalink)
...m... Denuo Volatilis Join Date: Jun 2008 Posts: 2,715	...it's a damned shame to see a noble concept once again discredited by greedy mismanagement, but if tesla burns they'll have brought it on themselves... __________________ 2005 Federal Elise \| Touring \| Storm Titanium ...73,000 miles and aging beautifully... 2000 New Beetle \| Turbo \| Reflex Silver ...107,000 miles of steadfast service...

03-04-2009, 06:07 PM	#6 (permalink)
BRTHTAKR AKA XHILR8N! Join Date: Dec 2006 Location: Asheville, North Carolina Posts: 1,151 Images: 6	Sorry to steal this pic, but it just fits too well __________________ Simplicity is the ultimate sophistication. Leonardo Da Vinci 2005 Elise LRG, Trim Shop interior, full cage, Cup wheels, other stuff. 2007 Toyota Tundra (about 10 cup holders) 2004 BMW X3 (4 small cup holders) 1980 Rover SD1

03-04-2009, 07:37 PM	#8 (permalink)
IamBatman Exige? SEXIGE! Join Date: May 2006 Location: Bay Area, CA Posts: 1,609 Images: 1	Elon Musk is a tool who got lucky with one idea (Paypal) and now he thinks he can run a car company. __________________ Phantom Black 2007 Exige S221.56436. All options. Black 01' Mustang Cobra 'Vert ("some" modifications) daily driver Facebook group: Add lightness...and Darkness!

03-04-2009, 05:36 PM	#3 (permalink)
craracer eTard Join Date: Jan 2009 Posts: 282	During times of monumental stress people often do things, which at the time sound logical, that might be otherwise considered bizarre at best.

03-04-2009, 07:40 PM	#10 (permalink)
charliex OSX Black hat Join Date: Feb 2005 Location: Las Vegas , NV Posts: 9,935	they picked up $40 million in december from investors, seems unlikey they've used that up already, though you never know! __________________ Black Exige S - http://goth.am 265 Mule / Elan M100.ECU Tuning, http://www.elisetalk.com/forums/showthread.php?t=39660 West Coast Lotus Meet - Las Vegas - November 6-9 2009 http://www.westcoastlotus.com/

03-04-2009, 08:38 PM	#11 (permalink)
AgentTripleX #101 Join Date: Mar 2006 Location: San Francisco Posts: 3,101	I want to say something, but I believe I signed a NDA as part of my separation agreement. __________________ http://www.facebook.com/SPRVXN www.twitter.com/autoVXNS http://sprvxn.tumblr.com/ "We always deceive ourselves twice about the people we love - first to their advantage, then to their disadvantage." Albert Camus "The refusal to choose is a form of choice; disbelief is a form of belief." Frank Barron

03-05-2009, 06:19 AM	#17 (permalink)
Bavarian Motorist Live to Drive Join Date: Nov 2006 Location: NYC/Westchester, NY Posts: 10,852	The bigger picture here is that he doesn't want this information, true or not, to be leaked because it makes the company look financially insolvent and that hurts investment and sales opportunities. It's not really about trust as you can tell from the article...didn't bother telling any execs. And he knows that trust isn't going substantiate the company. Seems like a desperate measure to me. __________________ Be an alpha male. Drive a Lotus.

03-05-2009, 07:45 AM	#19 (permalink)
SweetDaddyD BANNED Join Date: Jan 2005 Location: ATL, GA Posts: 7,644 Images: 2	I guess I sounded like a jerk when I was saying it before, but now it's looking like there is an echo in here. What a d!(#. I saw some Tesla matchbox cars in the store yesterday and half thought about picking one or two up figuring they would be a collectors item soon, but even in that small regard and for personal gain I didn't really care to show that inkling of support for Musk.

03-05-2009, 08:26 AM	#20 (permalink)
SteveLevin Master of Disaster Join Date: Nov 2007 Location: Sunnyvale, CA Posts: 468	What Musk is dancing around is that right now, if the company goes under, people holding deposits get nothing unless the company's assets are sold for more than $40 million (the recent round of funding, which is secured debt) plus any other secured debt lying around. Unlike conventional deposits, where you would expect them to sit in a safe escrow account, for a Tesla deposit, you had to agree to allow the company to use the money for working capital -- making you an unsecured debtor in the case of bankruptcy. And while Musk has said that he would make sure that didn't happen, he hasn't actually done anything about it. (for example, to put money equal to the existing deposits in escrow). Steve

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