Tesla/Space x

heisenberg

heisenberg

Earl Grey
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Lord Ba'al

Lord Ba'al

Well Known GateFan
I don't know whether he is serious or not. But generally when he makes a joke it is more obvious than this, so could be real.





 
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Lord Ba'al

Lord Ba'al

Well Known GateFan

https://www.tesla.com/blog/taking-tesla-private?redirect=no

Taking Tesla Private
August 7, 2018
The following email was sent to Tesla employees today:

Earlier today, I announced that I’m considering taking Tesla private at a price of $420/share. I wanted to let you know my rationale for this, and why I think this is the best path forward.

First, a final decision has not yet been made, but the reason for doing this is all about creating the environment for Tesla to operate best. As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders. Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term. Finally, as the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company.

I fundamentally believe that we are at our best when everyone is focused on executing, when we can remain focused on our long-term mission, and when there are not perverse incentives for people to try to harm what we’re all trying to achieve.

This is especially true for a company like Tesla that has a long-term, forward-looking mission. SpaceX is a perfect example: it is far more operationally efficient, and that is largely due to the fact that it is privately held. This is not to say that it will make sense for Tesla to be private over the long-term. In the future, once Tesla enters a phase of slower, more predictable growth, it will likely make sense to return to the public markets.

Here’s what I envision being private would mean for all shareholders, including all of our employees.

First, I would like to structure this so that all shareholders have a choice. Either they can stay investors in a private Tesla or they can be bought out at $420 per share, which is a 20% premium over the stock price following our Q2 earnings call (which had already increased by 16%). My hope is for all shareholders to remain, but if they prefer to be bought out, then this would enable that to happen at a nice premium.

Second, my intention is for all Tesla employees to remain shareholders of the company, just as is the case at SpaceX. If we were to go private, employees would still be able to periodically sell their shares and exercise their options. This would enable you to still share in the growing value of the company that you have all worked so hard to build over time.

Third, the intention is not to merge SpaceX and Tesla. They would continue to have separate ownership and governance structures. However, the structure envisioned for Tesla is similar in many ways to the SpaceX structure: external shareholders and employee shareholders have an opportunity to sell or buy approximately every six months.

Finally, this has nothing to do with accumulating control for myself. I own about 20% of the company now, and I don’t envision that being substantially different after any deal is completed.

Basically, I’m trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible.

This proposal to go private would ultimately be finalized through a vote of our shareholders. If the process ends the way I expect it will, a private Tesla would ultimately be an enormous opportunity for all of us. Either way, the future is very bright and we’ll keep fighting to achieve our mission.

Thanks,
Elon
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heisenberg

heisenberg

Earl Grey
Lord Ba'al said:

https://www.tesla.com/blog/taking-tesla-private?redirect=no
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This is a very smart move. Not only does it preserve the funding from the shareholders, but it also protects/preserves Tesla from the upcoming global financial crisis. This move is pure genius.

He even hinted it here

Musk explained his thinking in a subsequent blog posted to Tesla's website. "As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders," he said. He also bemoaned the short-term financial pressure caused by the quarterly earnings cycle of a public company.
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https://www.forbes.com/sites/noahki...o-take-tesla-private-at-71-billion-valuation/

https://www.tesla.com/blog/taking-tesla-private
 
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heisenberg

heisenberg

Earl Grey
T
Lord Ba'al said:
https://www-cnbc-com.cdn.ampproject.org/v/s/www.cnbc.com/amp/2018/08/15/sec-has-reportedly-served-tesla-with-a-subpoena-after-elon-musks-take.html?amp_js_v=a2&amp_gsa=1#amp_tf=From %1$s&ampshare=https://www.cnbc.com/2018/08/15/sec-has-reportedly-served-tesla-with-a-subpoena-after-elon-musks-take.html
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This sounds fake to me coming from CNBC which is known to spew garbage about Tesla. It's all garbage as usual from this crap.Don't link to CNBC ever. They don't know anything. They are just a bunch of idiots who are just trying to stay relevant.
 
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Lord Ba'al

Lord Ba'al

Well Known GateFan
https://www.tesla.com/blog/staying-public

Earlier this month, I announced that I was considering taking Tesla private. As part of the process, it was important to understand whether our current investors believed this would be a good strategic move and whether they would want to participate in a private Tesla.

Our investors are extremely important to me. Almost all have stuck with us from the time we went public in 2010 when we had no cars in production and only a vision of what we wanted to be. They believe strongly in our mission to advance sustainable energy and care deeply about our success.

I worked with Silver Lake, Goldman Sachs and Morgan Stanley, who have world-class expertise in these matters, to consider the many factors that would come into play in taking Tesla private, and to process all the incoming interest that we received from investors to fund a go-private transaction. I also spent considerable time listening to current shareholders, large and small, to understand what they think would be in the best long-term interests of Tesla.

Based on all the discussions that have taken place over the last couple of weeks and a thorough consideration of what is best for the company, a few things are clear to me:

  • Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company. Additionally, a number of institutional shareholders have explained that they have internal compliance issues that limit how much they can invest in a private company. There is also no proven path for most retail investors to own shares if we were private. Although the majority of shareholders I spoke to said they would remain with Tesla if we went private, the sentiment, in a nutshell, was “please don’t do this.”
  • I knew the process of going private would be challenging, but it’s clear that it would be even more time-consuming and distracting than initially anticipated. This is a problem because we absolutely must stay focused on ramping Model 3 and becoming profitable. We will not achieve our mission of advancing sustainable energy unless we are also financially sustainable.
  • That said, my belief that there is more than enough funding to take Tesla private was reinforced during this process.
After considering all of these factors, I met with Tesla’s Board of Directors yesterday and let them know that I believe the better path is for Tesla to remain public. The Board indicated that they agree.

Moving forward, we will continue to focus on what matters most: building products that people love and that make a difference to the shared future of life on Earth. We’ve shown that we can make great sustainable energy products, and we now need to show that we can be sustainably profitable. With all the progress we’ve made on Model 3, we’re positioned to do this, and that’s what the team and I are going to be putting all of our efforts toward.

Thank you to all of our investors, customers and employees for the support you’ve given our company. I’m incredibly excited to continue leading Tesla as a public company. It is a privilege.
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heisenberg

heisenberg

Earl Grey
Lord Ba'al said:
Possibly. I think it's pretty cool they post this kind of information publicly.
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looks like the SEC found another way to scam more money from poor share holders. How long are they going to keep this lousy system going? I am calling it next week when the collapse happens.
 
Lord Ba'al

Lord Ba'al

Well Known GateFan
So the news is full right now with Elon Musk smoking a joint and drinking whisky on Joe Rogan's podcast. Oooo he's sooo baaaad. And Tesla stock is plummeting! :P Who gives a shit. I just want to watch this for the talk about AI and whatever else they end up talking about. Don't give a crap about what the "rest of the world" thinks about it. The full podcast is over two hours. All the stories are focussing on is a few seconds or minutes apparently. Haven't seen it myself yet. Here's the link.

http://podcasts.joerogan.net/podcasts/elon-musk
 
Lord Ba'al

Lord Ba'al

Well Known GateFan
I watched the whole Joe Rogan interview. Found it entertaining.
 
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