NewsWorldFor Elon Musk, an economic recession would be "a...

For Elon Musk, an economic recession would be “a good thing”

-

“It’s been raining money on fools for too long,” the billionaire scolded on Twitter, forgetting a little quickly that he largely benefited from this magic money. Never stingy with little polemical phrases, Elon Musk stood out Friday for another outing on Twitter, as the clouds of recession gather over the United States. “It’s actually a good thing. It’s been raining money on fools for too long. Some bankruptcies have to be done “slice the billionaire.” Plus, all the Covid stuff at home has got people thinking they don’t really need to work hard. Waking up will be a rough one!” he warns. The opinion of the boss of Tesla and SpaceX is all the more controversial as the entrepreneur has largely benefited from the abundance of liquidity in recent years. A money, sometimes described as “magical” by its detractors, which made the title of Tesla climb on the stock market to impressive heights. It is the incredible valuation of the car manufacturer, more powerful than Toyota despite very low deliveries in comparison, which made Musk the richest man in the world. In 2009, the entrepreneur took advantage of a loan of $465 million through a massive federal stimulus package after the global financial crisis. A shower of money that helped keep Tesla afloat and finance the development of the Model S. Cash flow long in the red Tesla was also able to take advantage of significant tax breaks to release its electric vehicles. As the Guardian points out, the company also derives the majority of its revenue not from the sale of vehicles but from the resale of carbon credits to its rivals. A way of reminding that Tesla does not necessarily have such strong backs, given its business model. The company has not been spared by the cold snap on the markets in recent weeks, losing a third of its value since the beginning of the year, while Musk’s intentions on Twitter still remain unclear. Elon Musk also assured that “companies which by nature have negative cash flows (that is destroyers of value) must disappear in order to stop consuming resources”. Again, the Guardian recalls that Tesla was only profitable in 2020, racking up billions of dollars of negative cash before that. Again, low interest rates and “magic money” have largely helped the company avoid going under. As for its other major company, SpaceX, it depends on public contracts with NASA or the United States United States.Thomas Leroy Journalist BFM Business

1 COMMENT

  1. Download Ainhoa – ADN Album Mp3 Zip 2014-12-16
    Download Kerrie Roberts – My Heart’s Lifted Album Mp3 Zip 2014-12-16
    Download Nathan Gourley & Laura Feddersen – Life Is All Checkered Album Mp3 Zip 2014-12-16
    Download Vasko Atanasovski Trio – Feel Album Mp3 Zip 2014-12-16
    Download Badun – Graffiti Cabbage Album Mp3 Zip 2014-12-16
    Download Ainhoa – ADN Album Mp3 Zip 2014-12-16
    Download Rodrigo Haddad – Ten Years Album Mp3 Zip 2014-12-16
    Download Karen Mok – 不散, 不見 Album Mp3 Zip 2014-12-16
    Download Wally Stott and His Orchestra & Chorus – Happy Holiday (Full Christmas Album 1959) Album Mp3 Zip 2014-12-16
    Download Rubera Roots Band – Milita`ncia Rastafari Album Mp3 Zip 2014-12-16
    Download Autry Inman – Last Records Club Heroes: Autry Inman Album Mp3 Zip 2014-12-16
    Download Rubera Roots Band – Milita`ncia Rastafari Album Mp3 Zip 2014-12-16
    Download Chief Keef – Nobody Album Mp3 Zip 2014-12-16
    Download Karen Mok – 不散, 不見 Album Mp3 Zip 2014-12-16
    Download SLUMBADA Cast – SLUMBADA ™, Pt. 2 (Salsa, Rumba, Merengue, Kuduro, Bachata, Reggae, Fitness, Mambo, Timba, Cuba, Dembow, Cumbia) Album Mp3 Zip 2014-12-16
    Download Various Artists – Girls Just Want to Have Fun Album Mp3 Zip 2014-12-16
    Download Various Artists – Top DJ Selection Italo Dance‎ 2015 Album Mp3 Zip 2014-12-16
    Download Dominozero – Salice – EP Album Mp3 Zip 2014-12-16
    Download Inlavables – 25 Years. Long Distance Train Album Mp3 Zip 2014-12-16
    Download Dominozero – Salice – EP Album Mp3 Zip 2014-12-16
    Download Chief Keef – Nobody Album Mp3 Zip 2014-12-16
    Download Dresses – Lonely One EP Album Mp3 Zip 2014-12-16
    Download Dresses – Lonely One EP Album Mp3 Zip 2014-12-16
    Download Verschiedene Interpreten – Next Place Riddim – EP Album Mp3 Zip 2014-12-16
    Download Big Youth – Lov3 Album Mp3 Zip 2014-12-16

Comments are closed.

Latest news

NBA – Nicolas Batum stays in the West and offers himself a very nice contract! – Let’s Talk Basketball

NBA (DR) Agent-free after having declined his option but widely expected to stay at the Clippers, Nicolas...

Patent: National Education will file a complaint after a leak of subjects – archyde

How many 3rd graders were able to access the history-geography and patent science subjects even before Friday's exams? ...

NBA – The 2 priority players that the Nets want to recover against Kevin Durant! – Let’s Talk Basketball

Kevin Durant on the start, the Nets must manage many phone calls concerning the star. The negotiations promise...

United States: the Supreme Court limits the means of the federal state to fight against global warming – Le Figaro

After strengthening the right to bear arms and after challenging the right to abort, the Supreme Court on Thursday...

Landslide in the Huari province in Peru leaves at least 150 homes affected

Source: Official Page of the National Emergency Operations Center (COEN) (CNN Spanish) -- A huge landslide in the Cruz...

You might also likeRELATED
Recommended to you