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The Water Cooler
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Do you trust Elon Musk?
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<blockquote data-quote="dennishoddy" data-source="post: 3516549" data-attributes="member: 5412"><p>He has different ideas vs NASA wanting to reuse the boosters which I think is admirable. It's working in some cases and not working in others.</p><p> The last two launches from Boca Chica Tx have resulted in failures. The latest being this week when Starship SN9 fell out of control and exploded just like the one proceeding it with SN8.</p><p>As I've stated before, he and his entities are probably the highest benefactor of government subsidies of any "capitalist" in history?</p><p>You and I are paying for these failures.</p><p></p><p>Los Angeles entrepreneur Elon Musk has built a multibillion-dollar fortune running companies that make electric cars, sell solar panels and launch rockets into space.</p><p></p><p><strong>And he’s built those companies with the help of billions in government subsidies.</strong></p><p></p><p>Tesla Motors Inc., SolarCity Corp. and Space Exploration Technologies Corp., known as SpaceX, together have benefited from an estimated <strong>$4.9 billion in government support</strong>, according to data compiled by The Times. The figure underscores a common theme running through his emerging empire: a public-private financing model underpinning long-shot start-ups.</p><p></p><p>“He definitely goes where there is government money,” said Dan Dolev, an analyst at Jefferies Equity Research. “That’s a great strategy, but the government will cut you off one day.”</p><p><strong>Tesla and SolarCity continue to report net losses after a decade in business</strong>, but the stocks of both companies have soared on their potential; Musk’s stake in the firms alone is worth about $10 billion. (SpaceX, a private company, does not publicly report financial performance.)</p><p></p><p><strong>Musk and his companies’ investors enjoy most of the financial upside of the government support, while taxpayers shoulder the cost</strong></p><p></p><p><a href="https://www.latimes.com/business/la-fi-hy-musk-subsidies-20150531-story.html" target="_blank">https://www.latimes.com/business/la-fi-hy-musk-subsidies-20150531-story.html</a></p><p>Nobody should bankroll the richest man in the world. He should be operating from his personal wealth like you and I have to do.</p></blockquote><p></p>
[QUOTE="dennishoddy, post: 3516549, member: 5412"] He has different ideas vs NASA wanting to reuse the boosters which I think is admirable. It's working in some cases and not working in others. The last two launches from Boca Chica Tx have resulted in failures. The latest being this week when Starship SN9 fell out of control and exploded just like the one proceeding it with SN8. As I've stated before, he and his entities are probably the highest benefactor of government subsidies of any "capitalist" in history? You and I are paying for these failures. Los Angeles entrepreneur Elon Musk has built a multibillion-dollar fortune running companies that make electric cars, sell solar panels and launch rockets into space. [B]And he’s built those companies with the help of billions in government subsidies.[/B] Tesla Motors Inc., SolarCity Corp. and Space Exploration Technologies Corp., known as SpaceX, together have benefited from an estimated [B]$4.9 billion in government support[/B], according to data compiled by The Times. The figure underscores a common theme running through his emerging empire: a public-private financing model underpinning long-shot start-ups. “He definitely goes where there is government money,” said Dan Dolev, an analyst at Jefferies Equity Research. “That’s a great strategy, but the government will cut you off one day.” [B]Tesla and SolarCity continue to report net losses after a decade in business[/B], but the stocks of both companies have soared on their potential; Musk’s stake in the firms alone is worth about $10 billion. (SpaceX, a private company, does not publicly report financial performance.) [B]Musk and his companies’ investors enjoy most of the financial upside of the government support, while taxpayers shoulder the cost[/B] [URL]https://www.latimes.com/business/la-fi-hy-musk-subsidies-20150531-story.html[/URL] Nobody should bankroll the richest man in the world. He should be operating from his personal wealth like you and I have to do. [/QUOTE]
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Do you trust Elon Musk?
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