David Green
Well-Known Member
The media I accuse are not pointing out faults. Consumer Reports recently pointed out a fault regarding the braking system and Musk is responding rapidly to address the issue. That is the type of fault that should be pointed out by the media and is very fair to do so. What is not fair is to create falsehoods and promote them as truths. BS must be called on nonsense of this nature. No one is suggesting that fans 'cheer-through' real problems with the vehicles. One of the best reasons to like the company is Musk's willingness to acknowledge problems and rapidly address them, just like the CR issue.
Model 3 braking problems should not have ever shipped, that for sure should have been caught in testing by any regular automaker. Model 3 back seat, can that terrible design be fixed OTA?
Tesla does indeed burn money, you can spin all you want, but their loss last year of 2B was all from operations, There was additional CapEx cash burn above the 2B, and also substantial debt added. I am very clear and understand how to read a financial statement and balance sheet, perhaps we can compare notes if you think Tesla's losses are attributed to CapEx spending? As of April 1 2018, Tesla still owed nearly 1.9B in "other current liabilities" that are (plant equipment, robots, and other items that will be classified CapEx) for the Model 3 ramp. In addition to their over 2B Accounts Payable. Tesla was structurally bankrupt at the and of Q1 2018 in that current liabilities exceed current assets. Tesla is now living on cash float, and increased debt, which is the same as saying "borrowed time" unless the negative free cash flow is stopped and stopped quickly. Thats just the facts...