That point when the writing is clearly on the wall, but it still hasn't become obvious to everybody.
For a long time, frustrated short sellers and skeptics have wondered how long Elon Musk can continue to “dodge bullets”, as he has been doing with regulators and reality in general, Matrix-style.
Kept buoyant by his company’s stock price trading at a valuation that can only be described as an amalgam of mysterious and downright euphoric, Musk has, over the last several years:
All but gotten away scot-free with faking an $80 billion buyout of Tesla, which he “announced” during mid-day trading hours
Avoided consequence after using $2.6 billion in shareholder funds to bail out the near-insolvent solar company formerly headed by his cousin, that likely could have easily been purchased out of bankruptcy soon thereafter for pennies on the dollar. Musk pitched allegedly fake Solar City roof tiles, ostensibly as the impetus for the transaction. Solar Roof installs, now tucked into Tesla, have reportedly been halted in most markets as of this summer and, despite a good quarter from Tesla energy, had “extremely low” deployment in the most recent quarter.
Brought Tesla “about a month” from bankruptcy without ever disclosing the company’s financial distress to shareholders in SEC filings.
Consistently made forward-looking statements and predictions regarding Autopilot, Full-Self Driving, Robotaxis and other autonomous Tesla features, while collecting revenue based on these statements, that have turned out to, thus far, be falsehoods
Predicted “close to zero” Covid cases by the end of April 2020
But, to me, it appears that the days of praising Musk, who has become the world’s richest man and literally does who and what-ever the f*ck he wants to, could be coming to an end.
Today, I wanted to briefly explain some recent developments that I believe have importantly converged in serendipitous fashion to lead me to believe that in both markets, and in public discourse, we have seen peak Elon Musk. And after we see peak Elon Musk, naturally, peak Tesla is either already here, or is looming around the corner.