Comment by fossuser
4 years ago
Tesla buying Solar City was put to a shareholder vote (I voted yes along with the majority). Those shareholders should be happy now with the outcome of letting Musk do what he wants.
I'm not convinced any of this rises to fraud and none of it is close to what Nikola is doing here.
The solar roof also does exist and they install it, I'm not sure how that's fraud? https://www.tesla.com/solarroof because they buy parts from China?
> Tesla buying Solar City was put to a shareholder vote (I voted yes along with the majority).
Elon staged fake product presentation a month before the vote to gain support for the acquisition [1].
> Those shareholders should be happy now with the outcome of letting Musk do what he wants. > I'm not convinced any of this rises to fraud and none of it is close to what Nikola is doing here.
It's not a fraud because it worked? Same as Nikola - if they end up delivering some products in the end and their stock will keep on going up, then they it doesn't matter that they lie now?
> The solar roof also does exist and they install it, I'm not sure how that's fraud? https://www.tesla.com/solarroof because they buy parts from China?
Tesla still doesn't produce any type of solar roof, that was suppose to be their huge technological advantage. It's same as if Nikola instead of producing their vehicles will become dealership for Nissan Leaf.
Main difference between Nikola and Tesla now is that Tesla did deliver some products so far, but both companies are using hype and lies to gather funds and generate more hype. Given how much founding Nikola gathered so far, unless the whole EV bubble explodes, they'll also likely deliver some products.
[1] https://www.cnbc.com/2019/10/28/musk-deposition-stockholders...
> Elon staged fake product presentation a month before the vote to gain support for the acquisition.
> It's not a fraud because it worked?
It's not fraud because I don't buy your claim that it was a fake product presentation solely to gain acquisition support and the article you link doesn't even support that.
> Main difference between Nikola and Tesla now is that Tesla did deliver some products so far
"Some products" - they've sold hundreds of thousands of cars, built out a supercharging network, and a battery factory, while also making progress on autonomous driving at the same time. They were the first to prove this market against enormous odds and constant negative press.
Nikola has produced nothing but bullshit. I think the Tesla stock is crazy right now and I also think Elon's timelines are often unrealistic, but the amount of anti-elon anti-tesla sentiment in the face of success after success against enormous odds is wild to me.
> It's not fraud because I don't buy your claim that it was a fake product presentation solely to gain acquisition support and the article you link doesn't even support that.
"Shareholders also allege in the suit that Musk planned the unveiling of a product that didn’t yet function"
This allegation is based on what they already admitted to:
"Still, the company does acknowledge that the demos Musk unveiled at Universal Studios were not functional" [1]
> "Some products" - they've sold hundreds of thousands of cars, built out a supercharging network, and a battery factory, while also making progress on autonomous driving at the same time. They were the first to prove this market against enormous odds and constant negative press.
Tesla did a lot of good stuff, I'm not denying it, and they've made EV cars desirable for certain people. But it doesn't change the fact, that their operating mode is "fake it till you make it". And they sometimes do, often don't. They also "had" coast to coast self driving car since 2017, battery changing, alien dreadnought factory, with robots speed limited only by air resistance, panel gaps that are snake chargers, 620 miles range in 2017, 500k model 3 per year in Fremont, ventilators production, etc, etc.
> Nikola has produced nothing but bullshit. I think the Tesla stock is crazy right now and I also think Elon's timelines are often unrealistic, but the amount of anti-elon anti-tesla sentiment in the face of success after success against enormous odds is wild to me.
Because Elon and Tesla is massively overpromising. To point, that they're straight up lies.
Do they deliver some good stuff in the end, and have areas where they actually have technology advantage? Often they do, yeah. But that doesn't make up for the fact, that their business is build on hype and overselling their abilities in all the areas.
[1] https://www.fastcompany.com/40422084/inside-steel-pulse-the-...
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You don't need to manufacture a product to sell it. He might have been developing it, then someone beat him to it. Instead of spending on R&D, he gets to just buy it from a manufacturer and use his name to sell thousands.
This. If you have done research and know that you can build it for sure, then you already have a product. It doesn't matter if it has not been manufactured.