TSLAQ and the Crowdsourced Short Sale of the Century | TeslaCharts


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and join our amazing community. And with that, please enjoy this week’s episode. What’s up everybody? I’m Demetri Kofinas and you’re listening to
Hidden Forces. Where each week, I speak with experts in the
fields of technology, science, finance, and culture to help you gain the tools to better
navigate an increasingly complex world so that you’re less surprised by tomorrow and
better able to predict what happens next. My episode this week is a continuation of
our coverage of the electric car manufacturer Tesla and features an anonymous guest whose
identity will remain hidden but whose voice will be heard for the first time ever on this
podcast. The focus of today’s conversation is $TSLAQ. A reference to the organizing hashtag used
by a growing, emergent network of investors, chemical engineers, airplane pilots, car mechanics,
and just about any other career grouping you can imagine. What unites all of them is their outrage at,
and in some cases their speculation in Tesla, its practices, its statements, and its prospect
as a car company and as a stock, which according to many members of this community represents
the short sale of the century. My interesting in Tesla has grown organically
and my objective with these episodes is to chronicle, document, and expose through a
series of conversations with journalists, short sellers, and critics, statements and
practices that I believe conflict with the narrative of Tesla as a growth company operating
at the cutting edge of technological innovation. Nothing I say on this episode can or should
be viewed as financial advice. All opinions expressed by me and podcast guests
are solely our own opinions. And as is the case with all of my episodes,
these conversations are for informational purposes only and should not be relied upon
as the basis for financial decisions. One of the core missions of Hidden Forces
is to bring high quality conversations and thoughtful analysis to the most important
issues of the day. Tesla sits at the intersection of so many
of the forces that we have documented and explored on this program, and I believe that
our coverage of this company, its practices, and its prospects will prove prescient in
the months and years to come. And with that, let’s get right in to this
week’s episode. What’s up everybody? I have a very special episode in store for
all of you today and a very special guest to intro to you as well. But before I do that, I want to make very
clear that all opinions expressed by me and podcast guests today are solely our opinions
and should not be relied upon as the basis for financial decisions. This episode of Hidden Forces is for informational
purposes only. Now, I’m going to intro my guest. I’m actually going to let him intro himself. And I’ll also say that we’re going to have
a second guest who has come on the program before, also to talk about Tesla, to come
onto this show halfway through. Similar to how we did with Lawrence Fossi,
a.k.a. Montana Skeptic, about a month and a half ago. So, why don’t you speak into the microphone? Good afternoon Demetri. It’s a great pleasure to be here. I am known as TeslaCharts. I run the Twitter account by that handle and
for the purposes of this podcast you can call me TC. TC. All right TC. It’s great having you on. The audience doesn’t know this but we tried
to do this once before and I tried to intro you and it was a total disaster, and I just
thought it’d be better if you would speak directly. So let’s get right into this. First of all, for those people who do not
know what TeslaCharts is, let’s talk to those people first. What is TeslaCharts and who is TeslaCharts? TeslaCharts is a Twitter account that I started
a little over a year ago and if you would have told me when I started this account a
year ago that I’d be sitting here in New York talking to you on the Hidden Forces podcast,
I wouldn’t have believed it. The mission statement of the account is to
unabashedly serve the confirmation bias of Tesla bears. And it was sort of a social media experiment
on my part. I listened with great interest to an episode
of Hidden Forces that you did a few weeks ago with Cal Newport talking about the dangers
of social media. I’ve done the exact opposite of all of his
advice. I have decided to jump right in, swim in the
dopamine, figure out the algo, and see if I couldn’t take my passion, which is data
visualization, and my current obsession, which is Tesla and the stock, and combine those
two and make an impact on social media. So, I run TeslaCharts anonymously which we
can get into. TeslaCharts is one of many really, really
great and brilliant $TSLAQ accounts, which I’m sure we’ll touch on as well. But, I basically take complex financial data
around Tesla and try to make great visuals. It’s my passion. In my heart of hearts I really love to distill
complexity into great visuals. We’ll get into that and we’ll also get into
$TSLAQ which is really the main subject of today’s episode. Before we do that, give us a quick sense of
who you are. We’re not going to give your name out during
this episode and we’ll talk about why that’s important and the subject of anonymity within
$TSLAQ, but tell us a little bit about who you are. I’m a scientist by training. Immigrated to the US for graduate school. It’s a great privilege to live in the US. I’m proud to be a citizen. I did a hard science – I did graduate work
in one of the hard sciences and then embarked on a multi-decade corporate career. Did quite well. But recently decided to chart my own path
and to pursue my own personal passions and TeslaCharts is just one of the outlets of
my current passions. So by and large I run my own business and
pursue my own passion. I do a lot of private investing, angel investing,
venture capital, hear a lot of pitches. But mostly these days I just run TeslaCharts. I’ve been fortunate enough to achieve a certain
level of economic freedom and I intend on extracting all the value that I can from that
economic freedom because I know it’s precious. So you are the most visible member of $TSLAQ
that remains that I’ve come across. I don’t know if that’s true or not but certainly
from my perspective and I’m not in it like everyone else is. Before you it was really Montana Skeptic. Or at least he became the- Mark Spiegel- Mark Spiegel, of course. Actually, forget that. Let me take that back. I’d say he’s probably higher profile. Mark has a big mouth as he says, and he uses
it. So, it’s true. Actually there are a number of huge personalities
in this space. Mark definitely is the biggest one. I take that back. But you’re definitely there. You’re a prominent voice and you have a lot
of credibility. What role do you play in this community? It’s interesting. So the community is very dynamic. I would say that it’s leaderless in the sense
that it doesn’t have a command and control. It’s a hydra. It’s very kinetic. People have come and gone. People have gotten over their skis in the
trade and got stopped out of their shorts or gotten fed up with the name and moved on
or have been doxxed and have decided to take their accounts down. Which we’ll talk about as well. Absolutely. My role is primarily data visualizer, but
also because the vast majority of $TSLAQ are anonymous there’s sort of an informal code
of vouching for people. So if you get to know somebody and somebody
else wants to talk to them you can say “Hey, Spiegel says this person is okay”, or “Fossi
says this account is cool”, and you can direct message them without fear of being doxxed. So there’s a lot of that that goes on as well
amongst the sort of more prominent members of $TSLAQ. So directing traffic, policing each other,
making sure. And one of the beautiful things about $TSLAQ
is if I post something and it’s wrong or I have a typo or I’ve misinterpreted the data,
$TSLAQ’s the first to call me on it. My DMs will like up and I’ll either delete
the post or repost it or clarify it. So everybody has that role as well. It’s a self correcting, crowdsourced, peer
reviewed … Really the biggest experiment in financial Twitter crowdsourcing of our
time. Let’s talk about this crowdsourcing phenomenon. We did an episode called actually Crowdsourcing
and New Power in the 21st century with Jeremy Heimans and Henry Timms going back a while
now. I think it was episode 48 or something like
that. This is certainly enabled by technology. Social media, Twitter specifically. It is a revolution in terms of how investors,
activists, short sellers are researching and processing information about a company. In the past you have people like Jim Chanos
do a lot of proprietary research and then they would share that with members of the
media with whom they cultivated relationships and they would use the media to try to get
the message out to the public and try to put pressure on the stock. One of the things that’s different about this
is that first of all, besides being a community it’s also not all short sellers right? Correct. It seems that what unifies everyone, and this
is a growing community, is their general contempt for Elon Musk, who they view as an abomination. Yeah. I’d phrase it slightly differently and I agree
conceptually. I think $TSLAQ is the product of experts in
their own particular field that Elon has waded into. And so I describe the phenomenon as the realization. And the realization happens when you know
something inside out, Elon comes into your field, makes what I believe are knowingly
outrageous and most likely false statements that you know in the moment are false, and
then he ridicules you for not having thought of them. And once you’ve had that realization in any
particular field, you can’t look at him the same way after that. So there’s this amazing polarity of opinion
on him which is either he is the Edison of our times as we heard on CNBC just yesterday,
or you think he’s a charlatan and a carnival barker, which is the icon of my Twitter account,
famously, that I’ve branded so you could see which side of the aisle I fall on. And for me, he came into a field that I knew
a fair bit about which was solar technology and the solar shingle reveal in particular
and after I watched that reveal I just couldn’t let it go. I knew in the moment that the product was
likely fake and Fast Company has since reported that it was. This was back in October in 2016. And it’s not really materialized as a commercial
product. It was used to justify the SolarCity acquisition
which some would call a bailout. Ever since that moment … I remember the
moment. I was watching the reveal on YouTube and watching
him hold what I thought was a fake product, in the moment, and I could never look at him
the same again. So then when you dig further and further and
further, everywhere you look it’s the same pattern. So $TSLAQ is really a bunch of experts from
a variety of different fields. Artificial intelligence. I’m sure there’s a new influx of boring tunnel
engineers after the boring company reveal a few months ago. Automotive manufacturers. I say they’re contempt and they view him as
an abomination because of some specific tactics that he relies upon. I mean he definitely bullies people. 100%. Think we could agree about that. And I think that, first of all I’ve said this
before and I’ll say it again, I’m not short the stock. I have no financial position in this company
whatsoever. And when I began covering it, the first episode
was with Charley Grant. So I didn’t come into it with any bias, I
just knew that there were certain people that I respect that had a bearish view on the stock. But as I’ve looked deeper into what has been
most upsetting for me has been the way that he has behaved. His behavior I think is the most revealing
quality that traverses across disciplines. Just a lot of really abhorrent behavior. And that kind of brings me to another question,
which again I feel like either we touched on directly or indirectly already, which is
anonymity. So this emergent phenomenon, $TSLAQ, which
is this network of people who use the hashtag $TSLAQ, dollar sign Telsa-Q, which as I understand
is a reference to the inevitable bankruptcy of the company. Because when you put a Q at the end of a ticker,
that’s what you do when the company’s bankrupt. The company is not bankrupt, to be clear. But, so many people in this community are
anonymous. I put together this mosaic here in my rundown
of $TSLAQ accounts. I fully expect that there are going to be
many people that are going to retweet and like this episode from $TSLAQ. I will go through that tweet and I’ll look
to see who else I can add to this mosaic and I’ll be putting that in the rundown. But so many of these accounts are anonymous. People like @TeslaIsWorthZero, who I think
actually was recently suspended by Twitter. And we’ll talk about that. Machine Planet, Investor Gator, “Elon Says”
(@ElonBachman), El Gato Malo, elmerFUDD, a really well known account. So all these anonymous accounts of people
doing incredible amounts of work. Why is that? Why are they anonymous? Lots to unpack there. First thing I would say is successful, well
run, legitimate companies spend no time thinking about short sellers. And Elon spends an enormous amount of time
thinking about short sellers. Which is basically ringing the dinner bell
for people who do this professionally. I should say I am short the stock and like
you, don’t listen to my opinions as investment advice but you should certainly hear my opinions
through the prism of me being short the stock via put options and my personal bias on it. The reason most people prefer to stay anonymous
is because Elon is, I think, quite vindictive and has bullied people and bullied whistleblowers
allegedly. There’s credible allegations that we can get
into of taking advantage of doxxed information to call people’s supervisors. Famously, Montana Skeptic was doxxed by somebody. That information made its way to Elon and
Elon called his boss and threatened to sue if he didn’t stop tweeting and writing on
Seeking Alpha about the company. Well, he also shared that information with
the media. I think a spokesperson for Tesla shared his
employer’s contact information. Correct. There’s a great account, Pack Watson, a $TSLAQ. She is a former nurse I believe at Tesla and
tried to blow the whistle on allegedly credible allegations that somebody called child protective
services on her children and filed a complaint with the licensing board in the state that
she works in, in California. Famously Martin Tripp tried to blow the whistle
and talking about defective batteries finding their way into Model 3 cars and had worked
with Linette Lopez, who’s a reporter for Business Insider. Martin Tripp was allegedly … Swatted is
the term. So a false accusation of imminent threat to
the Gigafactory was made against him and the police went to his location. He has since, at least temporarily, left the
country for fear of reprisal. So there’s no good reason to be out there
if you don’t have to be. And it’s a core first ammendment issue, as
long as you are- So what was the impact on $TSLAQ of the doxxing
of Montana Skeptic and the subsequent deleting of his account? He deleted his account to be clear. He did. I would say that that was the unifying moment
where $TSLAQ went from a loosely held group of people doing research sort of on the down
low to highly motivated, twice as large, much more active, much more obsessed because of
what happened to Montana Skeptic. So you have to understand the context. Montana Skeptic, Lawrence Fossi, spent as
much time on Twitter policing $TSLAQ and making sure people were polite and making sure people
were factual … He spent as much time correcting $TSLAQ and curbing the excesses of it. He spent as much time doing that as he did
critiquing the company. How would he do that? He would call people out. Just out on Twitter? Absolutely. Just on the main feed? And people respected him so he was sort of
the father of $TSLAQ. Very well respected, he’s a gentleman, he’s
a scholar, he’s very thoughtful, he’s very polite, and was loved. I would say he was well loved. As much as you can love somebody behind an
avatar that you don’t know. You get to know people on Twitter. His avatar was Galileo. It was. And he famously spent as much time policing
$TSLAQ as he did critiquing the company. And when Elon went after him the sort of tribal
instincts … This whole social media experiment that I sort of alluded to earlier, I don’t
know hardly any of these people in real life and for most of the accounts you named at
the top, I would do anything for them. Because you’ve gotten to know them over the
many months that we’ve been in this weird experiment together and a famous example most
recently of Elon’s tactics I think and something I’m sure you want to discuss which is this
whole Skabooshka affair. Yeah let’s discuss that. What is Skabooshka? Skabooshka is one of the iconic $TSLAQ Twitter
accounts, previously anonymous. What was his profile picture? Like some weird cadaver? It’s an old piece of art. Yeah. It was like a skeleton. It looked like a 19th century picture of a
cadaver that had rotted. Yeah. I make art, I don’t know it. But it was. Yes, correct. And Skabooshka came to become prominent in
$TSLAQ because of his ability to monitor production at Fremont. Apparently he lives close to the plant and
had gotten quite good at observing the plant and the comings and goings of the various
trucks and cars coming out of production. And he got quite good at predicting what for
example the Model 3 production would be as it was ramping or trying to ramp and I think
that got under Elon’s skin. He had been doxxed probably six or seven months
ago. The thing about doxxing is almost all reporters
and the vast majority of good thinking people would never use doxxed information and would
just ignore it. I knew that Skabooshka was doxxed. I had no idea what his name is because it’s
not for me. His name is out now right? His name is out now and we’ll get to how that
happened. It was out then but it’s famous now. Most recently Skabooshka happened upon Tesla
Model 3 on autopilot/full self-driving in the Fremont area getting ready for this autonomy
day investor day. Right. Autonomy investor day was April 17th? Something like that. 24th maybe. Okay it was even sooner. And tell our audience for those who don’t
know what that is, give them a quick summary of what autonomy day was. Autonomy day was a four or five hour … Elon
famously joked on Twitter I think four hours and 20 minutes. He’s very specific. Very specific. He loves being specific. Well 4-20 is a go to joke for him. Autonomy day was the big reveal that Tesla’s
ostensibly leading in autonomous driving and full self-driving level four/five is just
around the corner and everybody should buy it. And in fact you’d be financially insane, to
quote Elon, to not buy a Model 3 today because it will appreciate in value once it gets software
upgraded to a robo taxi. Skabooshka filmed part of that and I don’t
know, I just read what he posted on Twitter. I get the sense that like many of the investors
who then took a ride on autonomy day in these ostensibly full self-driving cars, he has
on film the car driving too fast and maybe a disengagement and things like that. So what was the accusation he was making? Elon or Skabooshka? No, no, no. Skabooshka. Skabooshka was basically trying to document
that contrary to the claims that were going to be made at the autonomy day, Tesla’s full
self-driving capabilities are in fact lagging the industry by a wide margin. And I think that really annoyed people at
Tesla. And the accusation- Just to be clear, how was he going to do that? What was his following the Model 3 car, how
did that prove that? I don’t know because it’s now tied up in a
legal battle because very shortly after Skabooshka tweeted a very thoughtful thread on his encounter
with this car and what he believed it meant for where Tesla’s technology was in the spectrum
of full self-driving capabilities. Because there’s billions and billions of dollars
and dozens of companies racing to get to be the first to level five full autonomy, which
most experts in the field would say is still at least a decade away and requires technology- And regulation. Hello. And regulation. I mean irrespective of the technological hurdles
it’s completely irresponsible to claim that you’re going to be able to operate your car
as a taxi in a year when there are forces that are outside of your control that have
to deal with making that legal. I would say one of the phrases I coined and
maybe somebody else said it but the biggest barrier to full autonomy is partial autonomy. Because people will become comfortable with
a system they shouldn’t be. So it’s just good enough to sort of dull your
senses and then an accident happens. But back to Skabooshka. Shortly after he filmed that car Tesla filed
an ex parte temporary restraining order against him and made outlandish claims, I believe,
false claims, I believe, against him. And this really triggered the $TSLAQ community. So if Montana Skeptic unified the $TSLAQ community
and brought things to the next level, the Skabooshka affair has outraged the $TSLAQ
community. And as a consequence of that Lawrence Fossi,
Montana Skeptic, in sort of a- Who’s a lawyer. Who’s a lawyer. In a very ironic, full circle, wonderful gesture
on his part launched and is leading a GoFundMe campaign to support Skabooshka in his upcoming
legal battle against Tesla and that has raised $115,000 I believe, there abouts, as we sit
here today. And raised it very quickly. And I can tell you that there’s several hundred
thousand dollars more in reserve if he needs it. And just last night as we’re recording this,
Skabooshka’s attorneys filed for a delay in the hearing so that they could proceed with
discovery. Let me ask you just to clarify something because
this is an issue I run into every time I do an episode, which is I don’t know this community
or the news around this company anywhere nearly as well as my guests. So he tweeted out a thread on Twitter that
described some compromising information about the trial run that the Model 3 was taking
before this autonomy day event and subsequently is it true that Elon and Tesla did not play
any video that they had planned to play? Was that sort of the accusation? I don’t know what they planned to play. I know that they didn’t play a video from
the route that Skabooshka was on. Which they were filming. And most outrageously in the temporary restraining
order is that Tesla accuses Skabooshka basically of trying to ram the car, of interfering with
the demo itself to the point where you have swarms of people on Twitter accusing, I’d
say libeling, this guy of attempted vehicular homicide. And apparently, from people who have spoken
with him, he completely denies that and I believe him because there’s a track record
on one side and there’s a track record on the other and from what I know of Skabooshka
that doesn’t sound like him whatsoever. But the truth will come out. Didn’t they also accuse him of assaulting
a security guard at the Tesla factory? That was many months ago. But it’s part of the same lawsuit? Well it’s part of the same temporary restraining
order application, which you can get without representation. It was ex parte. Only one party was there. They fill out a form. Apparently, from what I hear 99% of these
get approved. It’s a real smear on his record if the allegations
aren’t true. And for sure one of the things that happened
with the publication of this temporary restraining order is his personal information and his
address was leaked to the public and Elon then tweeted Volkswagen about it and sort
of for a different reason which we probably don’t need to get into. But that elevated to his 24 million followers
or 25 million followers on Twitter that this information, this personal and compromising
information, about Skabooshka exists. There are reports in Skabooshka’s reply that
an army of people are calling his school. He’s a student. Right. He’s a 32 year old PhD student out of Michigan
isn’t he? He’s studying at the University of Michigan,
apparently in linguistics. These are all things I didn’t really know
until this whole affair even though I’ve known him from Twitter for the better part of the
last year. There are accounts in his response which I
read with great interest last night that there are many, many people calling the school and
demanding that he be expelled and that he not be allowed to finish his PhD. Yeah. There you go. There’s the bullying for you. There’s the bullying and that’s why most people
are anonymous. It’s just not worth it. I have children. I’m not actually afraid of Elon Musk. I have the resources to defend myself and
I actually don’t think that he would waste his time on me. Well has he ever contacted you? He tweeted at me once on Twitter, quite famously,
on Father’s Day asking me how big my short position was. Why on Father’s Day? I don’t know why he tweeted at me on Father’s
Day but I remember it was Father’s Day because I was at a friend’s barbecue and my phone
exploded. Wow, that’s really cool. What was that like getting a tweet from Elon
Musk? It was amazing. Stunned. Can you describe the emotions? Yeah, I could tell you the exact story. I was at a Father’s Day barbecue with some
of my close friends and I had been on the account for a few months and what triggered
him was I believe I did a long thread on SolarCity, 25 parts. Because a judge’s ruling had come out that
allowed you to reconstruct what really happened and it didn’t look good. What really happened when he purchased SolarCity? When he bailed out SolarCity is the phrase
I would use. He would say it was an acquisition based on
amazing growth synergies that have famously not materialized. The accusation is that he used the health
of Tesla’s balance sheet to impair Tesla in order to save SolarCity which- Let me correct you. He used Tesla’s ready access to the capital
markets because Tesla’s balance sheet wasn’t healthy even back then and the acquisition
of SolarCity made it much worse. But this goes even deeper than that. Most people don’t know at the time that he
acquired SolarCity using Tesla equity SpaceX owned $200 million of SolarCity debt. Elon and his cousins owned $100 million between
them of SolarCity debt. 65 to Elon I believe and 17 and a half to
each of his cousins. So if SolarCity had gone down, and it was
really in a liquidity crisis and many people were short the stock and thought it was a
zero. Famously I think Jim Chanos was short the
stock. This was all before my time on $TSLAQ. But I’ve since reconstructed the history of
it. If SolarCity had gone down, the whole thing
would have gone down. Because SpaceX was deep in it. Elon was personally in it. It would have sort of pierced the bubble of
confidence in his ability to raise. So he used Tesla’s access to the equity markets
to basically coalesce his empire and pull SolarCity under the umbrella of Tesla. And since that close, sort of fourth quarter
2016, SolarCity’s installations are down something like 80 or 85%. They’ve let go copious amounts of staff. They still have the solar shingle hanging
out there as ramping sometime in 2019. They have this factory in Buffalo that Montana
Skeptic has written a couple of dozen really seminal articles on Seeking Alpha that I think
when this is all done will be viewed quite favorably for their prescience. But that’s basically how I came into this
story. He held up this solar shingle after the SolarCity
acquisition- But you were saying it was Father’s Day, you
were at a barbecue, and your phone starts blowing up. So is it qualitatively different to get a
tweet from Elon Musk in terms of the swarm that occurs on your phone? Correct. I was at the Father’s Day barbecue and what
happened was Zero Heads posted my 25 part thread as a story, which was huge for me. I was a nobody on Twitter and then Zero Heads
posted that SolarCity thread and I kind of got the next wave of followers and engagement. And bots and bulls attacking me and all this
other stuff. So it was about a day and a half after that
and he went out on Twitter and found my pinned tweet which is what I said earlier which was
I unabashedly serve the confirmation bias of Tesla bears. And he asked me “How big is your short position?” On the Twitter app if you have the notifications
on, 20 plus is where it ends and I pull out my phone, I check the weather, I had like
10 or 12 notifications, cleared them out, put back my phone. My phone started buzzing. It was a minute later I pulled it out, it
was 20 plus. So that’s weird. That’s interesting. And then I looked and I was like oh my god,
Elon Musk just tweeted at me. So he asked me how big my short position was,
just curious. I tried to have a very polite exchange with
him to try to keep him informed. I caught a lot of crap from $TSLAQ for not
being a little more robust with him in my responses. But very shortly after that, like a minute
or two after that, he went onto Fred Lambert’s, who’s the editor of Electric, which is sort
of one of the fan sites of Tesla, and promised the short burn of the century was coming. And this is really what drew the dinner bell. So in a way I feel like the SolarCity thread
and his interaction with me led immediately to him promising to burn all the shorts, the
short burn of the century. And that really rang the dinner bell for all
the short sellers that are in here now. I actually knew about this thread even though
I asked you as though I didn’t and I have the thread in my rundown. He said “How big is your short position? Just curious.” And you said “It’s modest. Mostly an experiment in social media. Thanks for asking though.” Experiment in social media I assume is what
you referred to earlier. Correct. And then he said “Then you’ll be fine.” And you said “You’re winning bro. Why swing down to my level?” So remember at that time the stock price was
about $370 a share and it was on the ascend. That’s the thing though. He was winning. Why’d he need to punch down to me? And you made this point earlier and let’s
make it again. If you’re running a successful company, how
and why would you be spending so much time concerned about and doxxing people that are
either short your company or spreading negative information about it? Even if you don’t believe that information,
even if it’s totally not credible. Let’s put things into context. I had probably 4,500 or 5,000 followers at
that time. When he doxxed Montana I think he had 4,200
followers. Elon has, at that time, 22 million followers. I mean this guy gains and loses more followers
in a minute than I had accumulated over the four or five months I had been running the
account. I can’t get on CNBC. A tweet from Elon moves the stock. Clearly. Although that’s starting to change. Correct. That’s starting to change which is another
phenomenon that I’d like to discuss with you. But at that time I honestly believe and I
can’t … No, I don’t know what goes on in his head. I think that the SolarCity thread made Zero
Heads, which gave it a ton of engagement, which caught the eye of whoever monitors social
media for Tesla and feeds Elon with his obsession of $TSLAQ and burning the shorts. And then he went looking for me and then he
said short burn of the century later on and things like that but I think there’s another
quote too after I said why are you punching down to my level he said something to the
effect of I don’t want anyone to lose money and I’ll give them fair warning. Yeah, exactly. He said “I don’t want anyone to lose their
money or I will at least provide fair warning before it happens as I have done in the past.” Can you imagine a CEO of a $60 billion company- Well our president does this. True. Irrespective of your politics. I don’t talk politics on this show. I have plenty of issues with all politicians. There’s no denying the fact that the president
of the United States does this and bullies people on Twitter. And this brings us to another point which
is something I’d really like to discuss. We talked about doxxing. There’s something else which is account suspensions. There are people within this community who
have had their accounts suspended. I’ve discussed this, not terms of $TSLAQ,
but in terms of this larger policing of free speech on platforms by these Silicon Valley
social media companies. Twitter is the least egregious offender. There are much even worse ones like Facebook. But I mentioned … What was the one account? Tesla is worth zero. Is @TeslaWorthZero. Right. His account was suspended. It’s not the first account that’s been suspended
but you’ve got accounts like Elon’s or understandably obviously the President of the United States. It’s going to be tough to suspend the president’s
account because it’s newsworthy and there are good reasons not to suspend it. But there are people with incredible amounts
of power who are able to actually use their accounts to bully people and they don’t get
suspended. Correct. Whereas you’ve got these people that are fighting
the Goliath and their accounts are getting suspended. What do you think that’s about? I should be clear, I personally have had very
little issue with Twitter. They’ve been very fair to me. The one time my account was suspended I believe
I triggered a spamming algorithm because I was posting the same picture multiple times. And because of my own sort of doxxing defense
my two factor isn’t my own phone, it’s the phone of my friend’s and they were asleep
and so I couldn’t get on my account for about 10 to 12 hours but once I did they let me
right back on. But there accounts that have famously and
most consistently they were replying to Elon, maybe they were a little edgy, certainly well
within what you and I would consider first amendment free speech, if not maybe occasionally
a bit distasteful. And there are excesses on both sides, don’t
get me wrong. But the people, just randomly their accounts
get nuked. They get suspended and they disappear with
no recourse. That’s probably happened to four or five relatively
high profile accounts. Elon Bachman which is one of my favorite accounts
and I hope you don’t mind I’m going to drop some of the names of the famous $TSLAQ accounts
because they’re my friends and I want to give them the notoriety they deserve. No, of course not. And I’ve said I’m going to have a mosaic which
I want to have available to my subscribers so if you want … I assume many of you will
be tweeting, retweeting, liking this episode. I will go through all of that and I’ll actually
ask TC to help me out on picking and choosing so that we can really put all those accounts
on this rundown. But go ahead. Elon Bachman’s probably the funniest person
in $TSLAQ. He’s brilliant, humorous, a real genius for
the turn of phrase. Everyone sort of just organically arrives
at their job. So sort of my job on Twitter is making charts
and charting the data and showing the state of demand. Elon Bachman keeps this Tesla death list. And so Elon famously says Tesla’s the safest
car on the road and the statistics while arguable I think tend to point to the exact opposite
conclusion which is there are a lot of fatalities in Teslas, both drivers, passengers, and then
people on bicycles and pedestrians and so on. He keeps a spreadsheet of dozens of known
fatalities and replied to one of Elon’s tweet with the spreadsheet and then suddenly his
account was suspended. And then $TSLAQ went into a movement where
everyone changed their icon to Elon Bachman and really made a big stink and ultimately
his account was unlocked. Jack Dorsey is on record as being very pro
Elon. Thinks he’s brilliant. His chair of the board thinks he uses Twitter
wisely. And there’s a suspicion that Twitter is sort
of- The chair of Twitter? That’s correct. I’m sorry. Jack- No, no. The chair of Tesla is on record saying that- Correct. The chair of Tesla, Robyn Denholm, says Elon
uses Twitter wisely. So everybody thinks it’s great that Elon just
goes on Twitter and does what he does including apparently making fake buyout offers of his
company in the middle of the trading day. That’s wise. Others would call it securities fraud. The SEC certainly tried to. That’s a whole nother question of why the
SEC has not pursued more vigorously these charges or Elon or some of the things he said
or holding him accountable. That’s a great mystery of our time. I have some theories but just to round out
the Twitter, Jack Dorsey, there is deep suspicion within $TSLAQ that if they could they would
censor us more, but every time they do that they create 20 or 30 new accounts and bring
more attention to this and I think lend credibility to what was once I think a bunch of nobodies
on Twitter discussing Tesla. Which is now becoming more and more mainstream,
that hey there’s a real issue here. There’s something going on with this company
that’s not right. All these people didn’t come to be critics
of Tesla. There are much easier shorts, there are much
easier things to do all day, but there’s something deeply wrong here and $TSLAQ believes they
know what it is. Also why would you or I or anyone else want
to speak negatively about the first American car company in generations that has had a
real shot at disrupting the automotive industry and also a revolution in battery cars? So early on when I began covering this I used
to get a lot of hateful tweets about it but I don’t get those anymore and that kind of
brings me to another question which I alluded to earlier which is it seems that Elon’s tweets
and his presence on social media is not having the same effect in terms of pumping the stock
that it used to have. And that also translates into autonomy day
and into his announcement about the creating an insurance company to sell insurance. But here’s the thing. So this brings us to today. This brings us to the news which has to do
with Tesla’s announcement that they’re going to be raising over $2 billion worth of new
capital through equity. And convertible debt. And convertible debt. So I think it’s fair to assume that he wanted
the stock higher before he did this. There’s good reason to assume, I don’t have
any evidence for it, that autonomy day and some of these other promises were part of
that. I mean Elon has been obsessed with the stock
price for years and years and years. This is what this is all about. I’m going to bring in our guest. I’m actually going to have him come in soon
but what do you think about this raise? What do you think this is about? I would say that the raise surprises me. I famously started a meme back in August,
shortly after the 4-20 tweet, called can’t raise, can’t leave which hypothesized that
there was some deep disclosure prohibiting Elon from raising. And this was really born out of a curious
absence of insider stock sales for a very long period of time which then broke sometime
in like November and December and we started to see them again. So I guess it’s not a total shock that they
could raise. I’m very surprised that for example Goldman
Sachs would be one of the underwriters of what’s transpired today. So just to fill the audience in, it’ll be
old news I guess by the time this publishes, but they’re raising 700 million in equity
and probably 1.3-ish billion in a convertible note. For Goldman to be one of the underwriters
after I believe Elon essentially lied to him on the Q1 conference call. David Tamberrino, the analyst from Goldman
Sachs, asked him overtly about the demand situation in Europe and China and Elon said
everything’s just fantastic and then they turned in this terrible Q1 for deliveries. For Goldman to sort of be part of this syndicate
after that performance on the call just surprises me. And I guess I shouldn’t be. I would characterize what happened today as
the barbershop quartet of all that is wrong with our current economy, which I know you’ve
talked about different angles of on your podcast. It’s this weird combination of Silicon Valley
fraud, Wall Street corruption, regulatory capture, and then zerp absurdity. Let me take all four of those. There’s a lot of unicorns coming into the
market right now from Silicon Valley that are cash burners that have these huge valuations. I could tell you one thing, these founders
and early investors are not bringing these things to market to make retail investors
rich. They’re bringing these things to market because
they see the top and it’s time to get out. Wall Street corruption, I talked about it. All of the underwriters on today’s capital
raise are also in their asset back line. So they have a deep interest in making sure
that Tesla survives this next leg. Which is fine. I mean it’s just a little bit of a conflict. Regulatory capture. For the SEC to allow Elon to remain CEO after
faking a takeover bid in the middle of the trading day on Twitter, totally disrupting
the market, causing billions of dollars of potential legal liabilities for his company
and for sure hundreds of millions of dollars in losses for both bulls and bears. You know if you were long Tesla and you owned
call options at $430, that was a very bad tweet for you. And it crushed you. And for him to be able to then settle, go
on 60 Minutes and call his shot and say he’s never going to basically abide by this settlement,
proceed to not abide by the settlement, be charged with contempt by the SEC for not abiding
by the settlement and then he makes a few tweets to the agreement and gets away with
it with barely a wrist slap, and then days after settling is just allowed to go tap the
capital markets again like nothing happened, befuddles me. And then zerp absurdity. There wouldn’t be any of this … Spiegel
famously calls this the greatest bubble of our bubble generation. If there wasn’t copious amounts of basically
free capital needing to be put to work and banks readily accepting the fees with no due
diligence this wouldn’t have happened. So it’s really a barbershop quartet of all
that’s wrong with our current economy and I think that why people are drawn to this
story. It’s just so absurd. If you or I had gone on Twitter and done that,
we would be probably in prison. I want to ask the guest who has just newly
joined us here to my left, Ed McCabe. Ed we were just talking about … As you heard. We just started this. We were talking up until now about $TSLAQ. It’s great having you on by the way. I love the haircut. Thank you. Freshly done. Freshly done. I love it. I did it myself. It looks fantastic. It’s great having you here. Why don’t you just jump in? I mean we were talking at the beginning of
the show discussing $TSLAQ and this community and TeslaCharts’ role in all of that and now
we’re getting to the numbers which is why I wanted to have you come on the program. What are your thoughts? Well I wasn’t here for the part on $TSLAQ. No, not that part. But I will say it’s been remarkable. Being part of that community? Yes. The aggregation of so many intelligent people
from so many different disciplines who were drawn to this because somewhere related to
their discipline it was offensive. From capital markets, to me it’s offensive
because I believe in the integrity of these markets. But there’s guys from the auto side who see
the safety issues related to it as an auto business they find offensive. There’s engineers who find it offensive. So we’ve all aggregated and now we have this
interdisciplinary group that’s very hard to be. Well TC made that point too. That was actually his point at the beginning
and corrected me actually which was that the experience of hearing Elon Mush talk about
your specialty and then telling you that you’re an idiot essentially is insulting. And it’s sort of what has been the unifying
characteristic of this group. Yeah. And there’s a narrative that Elon helps write
and is subscribed to by many that Tesla was targeted. Couldn’t be further from the truth. I did not wake up one day and decide I don’t
like Tesla. I had no reason to think that. But we were all drawn to it because we saw
what looked suspicious or offensive. Among other red flags of course. What do you guys think the significance is
of today’s news? Because they do have a cash problem. They’ve had a cash problem. This is the central problem for Elon. They still have a cash problem. I mean they’re going to raise, let’s say,
$2.2 billion. They’re going to add $1.4 billion to an already
over leveraged company. They’re doing that to fund a $1.6 billion
working capital deficit. If I keep it nearer term, they’ve got a $566
million maturity due November 1st and they have a $165 million term loan that they’ve
rolled over several times now. So just take the term loan, the convertible
due in November, that’s like $725 million combined, add it to your $1.6 billion net
working capital deficit, and then consider that the company will burn free cash for every
quarter for the rest of the year. It does nothing. In fact if I was an equity manager at a big
place, whether it be T. Rowe, Fidelity, Putnam, Wellington I would say to my analyst what
is going on here? This is an act of desperation. All we’ve done is funded their working capital
and we are at the bottom of the capital stack with $25 billion of on balance sheet liabilities
in front of us, $18 billion of purchase obligations in front of us, unquantifiable legal liabilities
in front of us, under reserved warranties in front of us. We’ve probably got 50 billion plus in front
of us as an equity investor. What are we doing? He needs another raise. Are we doing that one too? That’s what I’d be asking my analyst. Thing that caught my eye today, and Ed has
more experience in this than be, but the fact that they’re only raising $700 million in
equity and they were reaching out to retail investors. Fidelity and a few of the brokerage houses. Not even high net worth. Like if you had an account and they thought
you might be interested in buying Tesla they’re reaching right out to you. It’s literally a phenomenon on $TSLAQ that
we’ve nicknamed fund to baggy. So they’re taking Tesla stock from funds and
dumping them on retail because they know what’s coming. Right. Because institutional investors are getting
out of the stock. In record speed, yeah. Yeah, and if you want to see a good proxy
for that fund to baggy phenomenon you look at the Robin Hood data. I think there was 80,000 account holders who
held Tesla maybe two or three months ago and now it’s 140,000. So as this stock has gotten destroyed, who’s
picking it up? Retail, largely millennial investors, and
that’s not to deride millennial investors, they’re are plenty brilliant ones. But these are people who don’t know a balance
sheet, don’t know a cash flow statement, and buy based on their affinity for the brand
and their affinity for Musk. What’s that about though? Is that any different from the X-Gen phenomenon
of the late ’90s with the dotcom bubble? Is it different in any way. Yeah, because I don’t think investing in pets.com
was virtue signaling in any way. So TC mentioned a lot of stuff. In particular the zero interest rate policy
that ran and the free liquidity that’s all over the place. But I think what’s different here, there is
an affinity for this stock related to Musk, related to climate change, and I think there’s
a lot of millennial investors who invest in what they like or what they use. So you can look at Robin Hood and you can
see the rankings of the most popular stocks and they go from marijuana to Netflix to Tesla
to Amazon. The things they like and use. I don’t think they’re owned for fundamental
reasons. And let me just build on the virtue signaling
part because I did something for my account almost as sort of a gesture to the bulls. I actually bought a plug-in hybrid car. I bought a Chevy Volt. And I did it because actually I think the
technology exists to solve the sort of point source emissions of transportation in a very
economical way and I think the Chevy Volt is a great engineering marvel and so to show
that I wasn’t just the Koch brothers, big oil conspiring against this American manufacturing
success story, I bought a good old American car that gets 50 miles of battery range and
I plug it in every night and I rarely use gas. The virtue signaling part of this is really
important because Elon and his enablers, and there are plenty enablers, have turned this
into if you don’t buy Tesla stock you hate the planet. And that’s just absurd and offensive. To think that the only way to confront global
warming, whatever you think of global warming, and there’s a whole variety of opinions on
it. The only way to do your part is to buy a Tesla
and to own the stock. Yeah, that’s really stupid though because
first of all those batteries have to be … I mean they generate tremendous- Full lifecycle analysis. Yeah. Tremendous amount of waste also. But also where’s their energy coming from
that’s powering the battery? That’s where we get into a question about
global warming and fossil fuel. So that is totally ridiculous. Where are you mining the raw materials that
go into the batteries? Yeah, exactly. But I want to challenge you guys on this point
about virtue signaling. Because that might certainly exist in a very
self serving way but I’ve seen the same phenomenon with marijuana stocks and I’ve seen it also
with cryptocurrencies. And I wonder if it’s just part of a general
lack of cynicism that comes from experience and maybe that every generation has a cycle
like this. It might particular, there might be interesting
nuances with the millennials, but that simply put they’ve never been through a cycle to
learn any better. They’ve never lost a significant amount of
money betting on a stock and Elon has delivered great returns for a lot of early investors
and made a lot of people look very brilliant right? Yeah. He’s the white hot, gets all the clicks, the
Q rating for Elon couldn’t be higher. It’s off the charts. Pardon the pun. And so I think people are drawn to this story
because of what that represents. So I do agree with you. There is certainly a part of the investor
base that has never lived through a recession. I was an executive during the great recession
of 2007 to basically I would say today. So until you’ve seen your company’s stock
depreciate by 85%, 90% you don’t know what’s possible. But that’s, I think, a small part of it. There’s a whole sea of enablers as well out
there that because this is so white hot on both sides, people jump into it just to become
notorious. So the metaphor I would use is they become
a very bright light in a room full of moths. Ross Gerber does it and he admits it basically
on Real Vision. He said on Real Vision documentary which I
was part of that he hardly has any Tesla stock but it’s great notoriety for him. People give him their money to invest on their
behalf because he’s in Tesla and he’s on TV all the time. People should watch that. It was a fun documentary. Grant Williams did an amazing job and Grant
was in the car with Ross and he did a beautiful job and his production folks, whoever the
camera folks were that were with him in LA I suppose. Is that where this is? I don’t know where- I assume so. They did a great job of capturing Grant’s
discomfort in the car. Yeah, that was good. But I want to take actually a couple of quotes. I might take them separately. One is from Joe Rogan. It’s from an episode he did yesterday. Joe Rogan famously had Elon Musk on the show
and he’s spoken very positively about him. I enjoy watching Joe Rogan. I think he’s a great contributor to the conversation. This is not a comment about Joe Rogan. It’s a subjective statement on my part because
of what I think about Elon Musk and Joe Rogan thinks very differently but I think Joe Rogan
captures, even though he’s not a millennial, he captures the way in which so many people
who haven’t, let’s say, dug in deeper have come to know or think about Elon Musk. This is literally a quote from the episode. He said “He’s a silly super genius in all
the best ways. I love the guy. I’m so glad he’s alive. I am. I’m glad he’s a real thing.” Now, I actually read this to TC before we
came in because I was so stunned by it, but there was something that stuck out in particular
in that quote, which was I’m glad that he’s a real thing. And I think that this is what Elon Musk’s
greatest talent is, his ability to erect this archetype of the great innovator. This Tony Starkian figure. And then he inhabits this figure. And for many people he is, until you begin
to dig deeper, he is the real thing. He is the real super hero genius inventor
of our time and it’s so hard to disabuse yourself of that idea once you’ve come to believe it
and once you’ve allowed it to infect you with possibility. Yeah. I mean it’s hard to disavow yourself of that
if you’re not a critical thinker. I mean if you’re a critical thinker you would
probably look at the fact that PayPal likely would have failed if Peter Thiel didn’t run
him out. Tesla is insolvent. SpaceX probably needs to be restructured. And the boring company’s an absolute joke. So you can call him a super genius and you’re
glad he’s real, but what’s real to me are the tangible results. And I don’t measure tangible results in equity
market capital. But did you have an early view of Elon Musk
before you began to delve into the stock that was more positive? I did. I did. I really only associate him with this stock. I mean I’ve come to know- Ed is a meat and potatoes guy. I’m not surprised that you didn’t. No. I didn’t have anything against him. I just didn’t follow him very closely. So yeah, I didn’t have an opinion. Let me augment something you said because
I think it’s important. You can be a critical thinker and think those
things that Joe Rogan thought. It just means you haven’t really looked at
the underlying financials or the data or the facts. So I think you can be a critical thinker in
general and have a superficial knowledge of Elon based on what he allows you to see and
you could be tricked into thinking that he is what Joe Rogan has described. Because I’ve listened to Joe Rogan. I enjoyed his podcast. I very much enjoyed the one Elon was on. I remember when he smoked marijuana Twitter
broke. It was about 2:00 in the morning eastern time
and Twitter broke. But there are many critical thinkers. This is what we call the blue check mark phenomenon. People that only have a superficial knowledge
of Elon then they wade into it and say what is this $TSLAQ and why are you picking on
Elon, and this is a great company. They just don’t know. I just think they’re ignorant. I just want to clarify. I wasn’t speaking to Joe Rogan not being a
critical thinker. I’m saying in this instance he’s not thinking
critically. I’m a critical thinker in narrow windows and
sometimes I don’t think critically so I don’t want that taken incorrectly. I like Joe Rogan myself as far as I can tell. But it makes sense though. Joe Rogan’s not an electrical engineer or
battery technology expert and he comes to the conversation obviously thinking highly
of Elon. And that’s his right. Yeah. And also he’s not cynical. But I think it’s telling. There’s another quote now I want to take from
someone who I struggled to sort of describe her. Let’s just say that I find her pronouncements
and her positions not just with Tesla, but in crypto and as a sort of investor at the
cutting edge of technology to be suspect. It’s from Cathie Wood. She was on CNBC recently. But there’s a particular part of what she
said that I find telling and I’ll say why and I want you guys to comment on it. She said “The analysts following this stock
don’t know how to analyze it. It’s not a technology stock. It is that. It’s not a car company. Yes, it is. Battery. It’s a utility. It’s something for everyone and no one can
pull it all together.” So there are two parts of that that I want
to focus on. One is that “it’s something for everyone.” I think that is the alarm bell that rings
for all of us. And then the second part which is “no one
can pull it all together.” And I would say the irony there is that that’s
what $TSLAQ has done. With this emergent phenomenon $TSLAQ has pulled
it all together in a way that no single shop or individual or conspiracy could ever have
done. I’m curious what you guys think of that quote
and what I had to say. First thing that jumps out at me is she famously
bragged I think in the same interview that she had four analysts covering Tesla. Insane. I would say there are 500 people who donated
to Skabooshka out of passion, which gives you some semblance of the size of $TSLAQ. Over $100,000 they raised didn’t they? $115,000, yeah. Yeah, it’s incredibly impressive. Five-hundred people were so passionate about
what happened to Skabooshka that they opened their wallet. That tells you the size of the army, the self
correcting army, of contributors, lurkers, people who only DM, and so on that exists
to study every aspect of Tesla. It must drive Elon nuts and sometimes I feel
bad because there’s literally nothing he can say, pronounce on, do that isn’t scrutinized. And you know, sometimes we get it wrong, there’s
no question about it. But it’s self correcting. When I first talked about can’t raise, can’t
leave I got a ton of feedback from shorts saying that’s naïve and they will do it and
clearly turns out nine months later after he ran the balance sheet into the ground and
destroyed the brand he has been able to pull off a raise much to my surprise. So I was wrong on that and I tweeted that
today. I said I underestimated the willingness of
the banks to take on all this liability. And others have as well. I think Gabe Hoffman, a famous short seller
who’s been short this stock, was pretty loud and out there saying he didn’t think that
the investment banks would take this diligence risk either, but they did. And so here I am, I’m wrong. Yeah. I mean I won’t comment too much on Arch Investments
and their research approach. I think it speaks for itself frankly. Right. Well a $4,000 price target, by the way, was
hanging under the lower thirds on the video the entire time. That has been their price target for Tesla,
$4,000. It’s absurd, but let’s just say what she said
is accurate. What’d she call it? It’s part auto company, part utility company,
part- Battery company. Technology. Autonomy. Okay. So what you just described- AI. If you want to take that rationale on its
face, is either a conglomerate, which get terrible multiples, or we can just kind of
average the multiples for an electric utility, an auto company, and a commodity battery company
and you will get a much lower stock price. So the rationale is flawed and it’s based
in nothing reasonable. Well there was someone recently, I need to
find it on my Twitter because I had retweeted it out. Here it is. Paul Graham. He said “The old car companies”, this is his
tweet recently. I think he tweeted this out a couple days
ago. “The old car companies think what separates
them from Tesla is that Teslas are electric. But they’re also separated by the fact that
Teslas are software and that they will discover is an un-bridgeable gulf.” I just don’t get these kind of ridiculous
statements. That’s what I call a fluke. Tesla is not software and Tesla uses software
like every other new car manufacturing company in the world. This is not unique to Tesla and in fact I’m
not an expert on this but you guys can speak to this. As I understand it they have absolutely nothing
proprietary when it comes to autonomous and generally they’re laggers technologically. That’s what I call this blue check mark phenomenon
where somebody with a superficial knowledge of Elon, and is probably a very critical thinker
in other aspects of life, wades into this and just randomly says Tesla’s a software
company. Well find me a software company with negative
margin and broken balance sheets and gross margins that have to be inflated by moving
costs and probably capitalizing a bunch of stuff on the balance sheet. They’re very aggressive in their accounting
and they still lose money. Probably close to a billion dollars when you
net out what’s real from the last report. Reported $700 million loss for the quarter. To believe Cathie Ark and like Paul, Paul
Graham I believe his name is who you just quoted, you have to assume that Tesla will
be a better auto manufacturer than Toyota, will be a better software programmer AI company
than Google Waymo, will be a better chip maker than Nvidia, will be a better insurance company
than Geico- It’s something for everyone. Something for everyone and nothing for anybody. I mean it’s absurd. And they spend almost no money on R&D. Cut to the bone compared to their peers, in
raw dollars. And it’s just expected because Elon’s this
great innovator that he’s going to outdo all of these people that spend billions of dollars
and have armies of PhDs. And I guess if that’s your bet, it’s a free
market and go buy the stock. But there isn’t an experience of driving one. Especially back in the day when I first drove
a Model S. I think it was in 2012. It was very futuristic. The experience of driving one was extremely
futuristic. Undoubtedly that had much to do with the battery
and the lack of the engine and the sound of the engine, how quiet it was. The space of the car. But also there’s that huge display screen. And we all see these videos of the car parking
itself. Now I don’t know what other cars do that. Is it simply that Elon Musk is willing to
take things that normally would be considered full beta and put them out there as actual
safe technologies to use every day? Yeah. I mean he’s absolutely gone full beta. Particularly with the claims of self driving. I mean the car is level two self driving maybe,
which everybody else is. Driver’s assist, yeah. Yeah, driver assist, you get it with every
car. So there’s nothing near self driving. We’ve seen the debts relative to the fleet
exceed any other car manufacturer. He massages the statistics in a way that favors
him. But yes, I think he’s actually beta testing
with people’s lives which reprehensible. So listen guys, we’re going to shift to the
overtime. There are a lot of things that I want to discuss
in detail. The service issues, we’ve already covered
in the show but I wanted to discuss them a little bit more Ed because I went through
your recent letter and I have a number of questions from it. I also am going to pull from Mark Spiegel’s
letter which covers some of these things as well. For regular listeners, you know the drill. If you’re new to the show I don’t take sponsorship
money. I don’t want to have to answer to anyone but
my listeners and I think breaking up these conversations with product pitches or service
announcements takes away from the quality and substance of the program. I’m counting on the support of listeners like
you to make the show possible and I think the subscription offering I’ve put together
is as good as you’re going to find on any high quality independent podcast. And that includes the overtime to this segment
that we’re going to do now with TeslaCharts and Ed and you can get access to the transcript
and to the rundown and you can learn more about that at hiddenforces.io/subscribe or
go directly to patreon.com/hiddenforces. Okay guys, let’s head into the overtime. Thanks. Thank you. And that was my episode with TeslaCharts. I want to thank TeslaCharts for being on my
program. Today’s episode of Hidden Forces was recorded
at Creative Media design studio in New York City. For more information about this week’s episode,
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19 thoughts on “TSLAQ and the Crowdsourced Short Sale of the Century | TeslaCharts”

  1. Couple of thoughts on this episode.

    1. There's no question Musk is a deeply unpleasant and dishonest human being. But that doesn't necessarily mean the company is going bust, there have been plenty of highly successful businessmen who are deeply unpleasant.

    2. I don't think Trump calling out massive media corporations for their propaganda is "bullying".

  2. It's better than a scam because it does actually make a product, but it's more like a cult than a business should be.

  3. I have made few $TSLAQ videos in the last month as well. It's an amazing community. I am definitely learning from the giants of the industry.

  4. Elon is just another version of Elizabeth Holmes of Theranos. If anyone tries to tell the truth about your product, ruin them!

  5. A few years down the line there will be books and movies about this narcissist of the century, son of apartheid sociopath creep… Same thing every time, "how could this happen?".. clueless journalists dumbfounded but can't connect the dots, people outraged "I had no idea!", giant sums of money paid by people who saw it all along, to fix the mess created by one spoiled brat and his army of brainwashed clowns who just NEED someone to worship, a daddy, someone strong because they are weak — Elon "bachelors degree" Musk is the grandmaster engineer to save humanity.. "wow listen he understands space, says words i cant understand but fuck reading books myself"….

    Remarkable, 5000 years down the line of human history and still living with the banality of dumb sheep. People say "not again", mention Hitler/nazis (these bad guys people could at least understand: black uniforms, skulls on their hats, harsh german accent) but can't comprehend megalomania, liars, manipulation staring them right in the face in everyday life….

    At least you can grapple with evil – it's just there, to be avoided, like fire or deep water — but what to do with all these stupid people?? World is no longer limited by evil – it's limited by stupidity and naivete, and free thinker gets punished, called pessimist, naysayer, "hater" until theyre right… Same thing now, same thing tomorrow. Musk is a symptom not disease.

  6. Rogen is a dis-info hack. He'll kiss your butt if you got the dime for him. Elon was guzzling whiskey. He didn't even know how to hold a joint. The whole thing was another staged event to change the narrative from the ambien and wine. Ya'll are Elon enablers.

  7. The Tesla Story has gotten way bigger than Elons false predictions. yeah he aint shit but there are potentially thousands of skilled Genius mechanics at tesla making magic happen every day and they will carry tesla to success… it ultimately doesnt matter if it takes a year longer or not, you Shorts will get burnt so bad concentrating on Elon.

  8. Just finishing the video – super good content, big thank you, I’ve been short only since Q1 ER (guess I’m lucky), since I didn’t have time to analyze it deeply before any earlier.

  9. why didn't you use Teslachart's twitter profile pic to illustrate this video, it would have been more coherent than the image you currently have. Thank you for this great interview.

  10. 46 million Tesla shares shorted 🙂 Congratulations on your success. Last year I wouldn't imagine I can pick some TSLA @181 🙂

  11. Calm down you people. Tesla = Apple + 18 Years; Musk = Jobs + 18 years. Not a new phenomena at all. iPod and then iPhones were revolutionary in their day. So are Tesla products. Period. End of story.

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