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He said: "We don't expect to spend this capital. We expect to fund our activity out of our growing cash flow, but we think it's probably wise to have at least some buffer here, some cash buffer between now and say summer next year there could be an automotive - a recession or at
least a decline in automotive demand. We want to make sure we're resilient through any short-term economic downturn or through any [inaudible], but it is not our intent to use this money, but to have there as a contingency fund"
Elon's pledge to "not use this money" & "to fund our activity out of our growing cash flow" differs SIGNIFICANTLY from his email, sent just two weeks later on 5/16 where he stated that it will take a "hardcore" effort to break even & be "financially sustainable". h/t @lorakolodny
Full email thanks to Lora here:
https://www.cnbc.com/2019/05/17/elon-musk-calls-for-cost-control-in-memo-to-employees.html …
Audio from this question here:
https://www.dropbox.com/s/4544okp25kt0b3s/Bank%20Call%20Capital%20Question.mp3?dl=0 …
Much appreciated if you would h/t me if you want to use the audio elsewhere. $TSLAQ $TSLA
Thanks Paul. I hope this forces Tesla to officially release the audio.
Thanks again, Paul!
Thanks Paul, appreciate all you do.
Well, this is pretty blatant fraud isn't it?
Nah. Things just deteriorated faster than expected in the last two weeks.
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