Where did this meme of them being a cash incinerator come from (other than from Musk, hoping people didn't look into the public statements)? Last time I looked, they had a few profitable quarters on the books. Looking at the last annual statement, I see a 200M loss on 5B revenue, with them sitting on 8B in assets, 2B of which is in cash. That's nothing close to a cash incinerator.
As far as I can tell, tightening up that slightly and reasonably could have turned it profitable again. The only cash incinerator I see in this picture is bull-in-a-china-shop Musk who appears to have made the problem 100x worse.
As far as I can tell, tightening up that slightly and reasonably could have turned it profitable again. The only cash incinerator I see in this picture is bull-in-a-china-shop Musk who appears to have made the problem 100x worse.