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Tesla says its factory is safer. But it left injuries off the books | Reveal
Undercounting injuries is one symptom of a more fundamental problem at Tesla: The company has put its manufacturing of electric cars above safety concerns, according to five former members of its environment, health and safety team who left the company last year. That, they said, has put workers unnecessarily in harm’s way.

At one point, White said she warned superiors about a potential explosion hazard but was told they would defer to production managers because fixing the problem would require stopping the production line.
tesla  fail 
11 hours ago by dancall
What Elon Musk and Donald Trump don’t get about journalism
They are serving an agenda, but it’s one that seems unrecognizable to Musk and Trump. Their agenda is the truth. That sounds idealistic and it is. (And when the full truth’s not something that can be guaranteed–often, it isn’t–at least the agenda is toward accuracy.) Certainly, many journalists face pressure to get clicks and that sometimes leads to hyperbolic headlines and selective details. And at some news outlets there is too often a confirmation bias–a left-leaning publication might accentuate the negatives about a conservative lawmaker’s new policy while minimizing the potential benefits or adequately representing that politician’s arguments and vice versa.
tesla  fail  newspapers 
11 hours ago by dancall
Tesla says its factory is safer. But it left injuries off the books | Reveal
But Logan’s inhalation injury, as it was diagnosed, never made it onto the official injury logs that state and federal law requires companies to keep. Neither did reports from other factory workers of sprains, strains and repetitive stress injuries from piecing together Tesla’s sleek cars.

Instead, company officials labeled the injuries personal medical issues or minor incidents requiring only first aid, according to internal company records obtained by Reveal.
baddata  dj  tesla  safety  transport  t 
11 hours ago by paulbradshaw
The Anti-Portfolio
"Our reasons for passing on these investments varied. In some cases, we were making a conscious act of generosity to another, younger venture firm, down on their luck, who we felt could really use a billion dollars in gains. In other cases, our partners had already run out of spaces on the year's Schedule D and feared that another entry would require them to attach a separate sheet."
p:Bessemer-Venture-Partners  w:1000  list  startups  Apple  Airbnb  Facebook  Google  PayPal  Tesla  from instapaper
yesterday by bankbryan
Tesla needs to sell more expensive Model 3s so the company doesn’t ‘die,’ – Musk
Summary of Tesla's situation:
- Tesla currently has 2.67 billion in cash.

- About 1.1 billion of this is in loans that need to be returned early next year

- Around 40% of their cash in hand is from refundable deposits, from people who thought they would get a $35k car

- Tesla cannot make $35k M3s at a profit(this is widely accepted, and even Tesla hinted at it), they'll lose money even making $42k cars. They need to make $50k cars to earn a decent profit

- When asked in the earning call last week about reservations and how many people chose to cancel/take up their car once offered, Musk stunningly called the question "boring" and "boneheaded" and went on take questions from a youtuber for 20 mins. This was considered unprecedented and bizarre and stock dove.

- Tesla is losing about 800-900 million a quarter, so they will run out of money without a cash infusion. Literally everyone knows that Tesla will need to raise capital this year.

- Musk though, has insisted that Tesla will not need to raise cash because they will be "profitable by Q3 or Q4". Reminder that they lost 780 million in Q1, and even small profits won't be enough to prevent running out of cash. In order to make profits they need to sell 10,000 cars a week. They were supposed to produce 5000 cars a week in 2017. They have just now been able to produce 2500/week.

- Even bulls say that Musk is bluffing and he will eventually raise cash this year. Moody's downgrade of Tesla to essentially junk stocks makes it harder to raise cash at good interest rates. Moreover, there is speculation and some evidence that the reason Tesla haven't already done so, is that they are under SEC investigation which would prevent them from raising cash without disclosing a lot of details harmful to them.

- Tesla has access to standard credit lines for about 500 million, but they recently had to pledge their Fremont factory to just maintain these credit lines.

- A lot of Tesla's financial executives have left the company - a red flag to many including Jim Chanos, who famously shorted Enron due to similar indicators. The head of autopilot left and the head of engineering left 'for vacation' yesterday.

- Tesla's autopilot is complete false advertising. Their original autopilot was developed by MobilEye. MobilEye hated tesla's exaggeration of the system's capabilities and withdrew their supply after a person died using autopilot. Tesla responded that mobileye was jealous of Tesla's superior "Enhanced Autopilot" which has hardware capable of full self driving. It is universally accepted that enhanced autopilot is worse than mobileye's system right now, and in general both are basically lane-keeping system with AEB. Waymo and GM/Cruise are far ahead with their FSD capabilities than Tesla(again, widely accepted)

- Part of Tesla's debt comes from bailing out Solar City, a completely unprofitable company loaded with debt that was run by Musk's cousins.

- Starting from 2019 and 2020, all the major automakers are bringing out electric models. This will further damage Tesla's competitiveness, since they have the wost QA and build quality due to their haphazard and panicked development process

Despite all this, the market cap of tesla is larger than Ford, Fiat and nearly equal to GM. Their inflated market cap(which even Musk admits is inflated) is fuelling their funding which inflates the market cap even more as they lose more money trying to make bigger promises. A classic example of a huge bubble.

What does Tesla have to it's advantage? Tremendous marketing and brand value. They're probably inching towards or even surpassing Apple

What does Tesla have against it? The realities of running a business and actually making the products.
tesla  discussion 
3 days ago by bbrown
Progress, Precision, and Profit
"- Excessive meetings are the blight of big companies and almost always get worse over time. Please get of all large meetings, unless you’re certain they are providing value to the whole audience, in which case keep them very short.
– Also get rid of frequent meetings, unless you are dealing with an extremely urgent matter. Meeting frequency should drop rapidly once the urgent matter is resolved.
– Walk out of a meeting or drop off a call as soon as it is obvious you aren’t adding value. It is not rude to leave, it is rude to make someone stay and waste their time."
a:Elon-Musk  p:Electrek  d:2018.04.17  w:1500  memo  Tesla  cars  manufacturing  from instapaper
3 days ago by bankbryan
Tesla needs to sell more expensive Model 3s so the company doesn’t ‘die,’ Musk says - The Verge
All of this has some industry experts doubting whether the most affordable Model 3 will ever exist in a meaningful way. “Undoubtedly, Tesla is in dire need of cash,” says Michelle Krebs, a senior analyst at Autotrader. “Musk has said he doesn’t want to go outside for it so that means they must generate it internally. And they can’t do that with $35,000 Model 3s thus the high-end versions will go on sale first. It may well be that a $35,000 Model 3 is a unicorn.”

“They simply cannot afford to sell $35-40,000 cars and they will put it off as long as possible,” says Sam Abuelsamid, a senior analyst at Navigant Research. “While the $80K+ Model 3 might help that car in the short run, it is also likely to cannibalize sales of the Model S so the net benefit to the bottom line might be negligible. My guess is we won’t see more than a token number of low end [Model 3s] until late in the year.”
Tesla  Trend 
3 days ago by snearch

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