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Tesla’s in its flop era (www.theverge.com)

submitted 8 months ago by [email protected] to c/[email protected]

106 comments fedilink hide all child comments

When Tesla releases its first quarter earnings this afternoon, the company’s CEO Elon Musk will field the usual questions about new products, new factories, and progress toward its futuristic vision of self-driving cars and robot workers. But Musk will also face increasingly urgent questions about its current state of affairs — and why everything seems to be going to shit.

Earlier this month, the company reported its first year-over-year sales drop in four years, a sign of rougher waters ahead. Tesla’s stock has fallen more than 40 percent since the start of the year, including a 13 percent drop in the last week. The company laid off over 14,000 employees last week, 10 percent of its global workforce — which could end up being closer to 20 percent when all’s said and done, according to Bloomberg. Today’s earnings report is expected to include Tesla’s lowest profit margins in six years, a sign that rampant price-cutting continues to exact a toll.

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[–] [email protected] 105 points 8 months ago* (last edited 8 months ago) (1 children)

Turns out business is easy when running a virtual monopoly while receiving truckloads of government welfare. Shit gets harder when actual car manufacturers get in on the game, competing with an i-phone you put wheels on and called a car.

[–] [email protected] 16 points 8 months ago* (last edited 8 months ago) (1 children)

Unfortunately this is gonna bite NASA due to them handing the lander mission to Musk and his bogus claims, and in that case there won't be many competitors ready to pick up the slack

[–] [email protected] 52 points 8 months ago (1 children)

So far, SpaceX has been run with much less Musk involvement. That could change on a whim, but so far it seems to be a pretty well run government-supplier under Gwynne Shotwell.

[–] [email protected] 9 points 8 months ago (1 children)

The problem is starship, Musk's mars-shot brain child, seems to be increasingly behind schedule for the Artemis missions.

Not to mention using starship is apparently forcing any moon landings to launch between 8-12 rockets to get one SpaceX lander on the moon?

Overall it seems like SpaceX is getting fucked by Musk's involvement as well.

[–] [email protected] 2 points 8 months ago

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