Ready for your latest dose of Tesla-based oddness? Good, because Elon Musk has hit the headlines once again. This time it’s for totally dismissing corporate analysts’ questions on Tesla’s financial health.
As we’ve already reported on several occasions, Tesla is spending money pretty quickly without all that much of it coming back in. During a conference call with number-punchers from heavyweight industry analysts, Musk refused to answer seemingly valid questions about dollar and about how many people who had placed deposits for Model 3s still wanted them.
A Bernstein analyst called Tony Sacconaghi asked about how much money Tesla needed to raise to keep functioning after the company lost a record $710 million in 2018’s first quarter, but CEO Musk responded with:
“Excuse me, excuse me. Next, next. Boring bonehead questions are not cool. Next.”
Shortly afterwards, another analyst, Joseph Spak of RBC, asked how many, of those people who had placed Model 3 deposits and now had the chance to move on to the next stage and customise their car, had actually followed through. There was reportedly a 14-second period of silence where it’s believed that the call was muted on Tesla’s end, before 46-year-old Musk returned and said:
“We’re going to go to YouTube. Sorry, these questions are so dry. They’re killing me.”
In minutes some $1.8 billion had dropped off Tesla’s publicly traded value. Meanwhile, the Model Y’s production start date has been delayed until 2020, a year later than first stated, and we now know that it won’t be built at the firm’s Fremont, California plant. Elon Musk has also himself said that it’s ‘high time’ the company became profitable.
We hope it does, but this shareholder-scaring weirdness won’t help.