Tesla’s massive 71% profit loss pushes Elon Musk to limit government work with DOGE
Tesla’s massive 71% profit loss pushes Elon Musk to limit government work with DOGE
Tesla only made a profit in Q1 because of the CO2 tax credits they sell to other car manufacturers.
Tesla is a very heavily subsidized company, in fact Tesla is built on subsidies. Yet Musk has the audacity to claim public workers only interest is to take money from the government without doing useful work!
Without capital gains and tax credits, Tesla would be $600 million in red in Q1! And Tesla continues to lose marketshare fast in Europe.
The longer you look at any musky business the clearer it becomes that the foundations are built upon the manipulation and harvesting of public funding.
Whether it be tax incentives to build and operate a factory, manipulation of tax credits, or special grants, the findings are always similar.
Then, if that doesn't work he calls in the bad guys from planet earth to privately 'invest' in his flailing bullshit so they can use whatever it is as a tool to accomplish the evil they want to see in the world.
Considering how dependent he is of government, it's weird he is so much against it.
But he is so much a narcissist that he thinks that he alone made everything he did possible.
It wasn't the fact that he was born rich in a rich country that supported his endeavors, it wasn't the enthusiastic workers and engineers that worked tirelessly because he convinced it was a "project to save earth"!
Elon Musk is disgusting, taking all his privilegies for granted, while wanting to deny working people the bare minimum.
Elon Musk and Donald Trump are prime examples of why we need to tax wealth more.
Tbf, most automobile companies are heavily subsidized through the fossil fuel infrastructure that is required for them to exist and be of any use. That includes, but is not limited to:
71% profit loss and the stock is still waaaay up from a year ago. Our stock market is completely broken.
It's propped up by lies and insider trading
The entirety of the US economy is a house of cards
Not just the US's to be fair.
Every company is "financialized" now. They essentially run like a bank. They aren't being run based on a product or a service. They are being run to maximize returns for investors to such an extreme level that stock buybacks and layoffs are the tools used to bring the stock price up.
The stock market has been a scam for awhile and not really connected to any company "doing well". But they are essentially just shitcoins at this point. All running on whether or not people feel like they'll go to the moon or not.
People that mock Bitcoin but pretend like Tesla doesn't run on the same toilet paper thin vibes are kidding themselves.
Edit: this is not a defense of crypto. It's just an example of how fucked the stock market is. Especially in "tech" companies.
I believe this is just a case of “greater fool” syndrome.
Also, what is the Lemmy version of Rimjob Steve?
And the subsidies Tesla enjoyed before cancelling them for other EV companies! Typical boomer, pulling the ladder up after themselves...
The stock market was broken from inception. It's one of humanity's biggest mistakes.
I think you just mean capitalism.
Imagine what he will do with 100% profit loss.
Maybe we can get him to stop posting his dumb shit on twitter, oh excuse me, X, brilliant name, idiot.
i still drive my old Tesla with free super-charging, bleeding them dry slowly, slowly
Godspeed
There must be a way to retrofit vehicle to grid on old Teslas. Let them pay your electricity bill.
Can you plug it in and also deplete the battery at a similar rate somehow? Like an infinite money drain on Tesla?
I'm sure the impact to climate change would be canceled out by the loss in profit to a Nazi billionaire. But I'd have to do some math.
Maybe we hack together a device that just drains power and tricks the chargers into thinking it's your car. Use the power consumption to do something like mine crypto and send it to a charity. Idk. Just brainstorming shit lol
A simple one would be to power your PC off the car and just let it sit. Mine some crypto for free on Elon's dime.
Fuck this Nazi PoS.
71% profit loss males me feel uplifted.
I think it's actually worse, because they have stocked up on unsold cars, and those cars are probably booked at way to high value.
With constantly dropping EV prices, that unsold car park is depreciating fast. And when Tesla finally has to write them down, it will be very painful on the books.
Tesla has worked really hard to achieve cheaper production of scale, but when that scale dwindles, Tesla is stuck with the cost of enormous surplus production capacity. That cost money, and factories will probably have to close, and writing off the value of a big production plant is losing money too.
The engineers at Tesla have built some amazing stuff, but the CEO who drove them forward for so long has been holding them back for a while now. Time for Musk to go.
He never drove forward shit, modern day Edison would shock and kill elephants if it made him money.
Eh, I know nuanced viewpoints around billionaires aren’t appreciated on the corporate web, let alone the fediverse, but I really don’t think it’s as simple as that. Why did Tesla succeed where other EV companies failed or floundered? And why did Tesla, the company behind the ultra-desirable Model S and its peers, produce the unsellable Cybertruck and fire the entire Supercharger team?
CEOs set the direction and drive the company to deliver on that. And Musk has lost it - from 95% genius and 5% mad to 95% and 5% genius. I honestly feel sorry for him in many ways - which I fully appreciate is a lot easier to say as a non-American right now! He will probably never again know true love or be considered an inspiration to the smart people he seems drawn to. He’s thrown his lot in with a bunch of bastards who would gladly tear down everything he’s built up. I am 100% confident that I will live a happier and more fulfilling life than him, as poor and stressed as I am. Poor sod.
As the edgelord he is, I hope he’ll appreciate his inevitable future epitaph: “You either die a hero or live long enough to see yourself become the villain.”
Honestly, I'm shocked there hasn't been a shareholder lawsuit about the Tesla board's continued support of a CEO who is clearly a liability to the company.
I think they're in a dicey spot because any investor understands that Tesla is way overvalued, due to its status as a meme stock.
So sure, get rid of Musk for the sake of the business, that does sound like obviously the right move...but at the cost of utterly tanking the share price? Not likely. And make no mistake, getting Musk out of Tesla totally reverses the meme stock status.
Edit: better vocab
As someone that knew engineers that worked at Tesla. Interviewed and turned down an offer there myself.
As soon as I graduated in 2015 and got a job in silicon valley I quickly learned that literally every real engineer hates Elon. Especially the ones that work at Tesla. And they treat their employees on H1 visas like indentured servants.
Awful piece of shit company. But I respect most engineers that work at it. I'm glad the normies outside of the industry are finally catching on to this. For years I had to explain to my normie friends why Elon is a braindead idiot and they would just nod and not really understand why.
I hope people start to understand that "tech bros" and "people that work in tech" are entirely different people. The SF bay area just happens to be filled with both of them.
Very thankful I don't live there anymore. This isn't unique to Tesla either. But Tesla is definitely a perfect example for people to point to and understand now.
Most engineers just wanna make shit. And most companies take advantage of a lot of people that enjoy their profession by overworking and exploiting them to an insane degree. Especially H1 visas. Those guys/gals deserve so much more. Tech needs a massive union push.
When I learned that a significant portion of their profits comes from trading carbon credits I realized they are a straight up scam.
https://carboncredits.com/teslas-carbon-credit-revenue-soars-to-2-76-billion-amid-profit-drop/
As their revenues goes down their usage of carbon credits to make money goes up. They account for around 30% of their total revenue as of 2025.
To realize this considering DOGE's mission to cut government waste is kind of ridiculous. Why won't he cut off his own company when it is obviously wasting tax payer money!?
Oh wait, that is right. It is all a lie!
In the pace of 24/7 news coverage this post seems ancient.
Anyone saying he failed at doge is missing the point. He absolutely hyperfocused on destroying and delaying countless lawsuits against his companies. Please let's focus on this instead.
If you drive a Tesla in 2025 and don’t have a virtu signal anti Elon anti / anti fascist bumper sticker I assume you’re a Nazi.
Elon, you'ne not a real CEO, "girl".
It's almost like people fucking hate nazi fucks.
Interesting.
You know what bothers me most about the whole thing with Musk? The Twitter thing.
He was fucking around, he wasn't really going to buy it, and some jackasses in the government and courts made him go through with it. Congratulations assholes! Because of forcing him to buy Twitter, right wing misinformation went bigger and had no checks at all on it (I mean it wasn't great before, but at least they didn't allow outright Nazi propaganda) and that was probably the major tipping point for the election.
So forcing Musk to buy Twitter led straight to this situation we're in.
he wasn't really going to buy it,
He was, he just didn't intend to pay as much as he did
No fuckin way he didn't fully intend for what happened after he got his hands on Twitter, the idiot just opened his mouth and said a bigger number then he meant to for price initially
The owners of Twitter made him go through with it, using the courts as the enforcement mechanism.
Elon deliberately forced his way into our government undemocraticly
It had nothing to do with Twitter
SpaceX and Tesla were built almost entirely on our tax dollars, the only way he has found to be successful is to convince corrupt politicians to give him our taxes.
No he wanted it, and his Saudi backers did too. Plenty of non Elon money poured into that transaction
ENRON x 1000
If there's any justice left in this world Tesla will become the millstone around Musk's neck as he drowns in a shallow lake.
If we want justice we have to make it.
Ooo! Can we add piranhas to the lake we’re building for him? Each of us gets to give him a paper cut.. then salt then lime juice. Then a slap. Sorry I guess I got a little carried away…. Because I totally forgot about the alligators too!