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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
It’s been two quarters bro 
So was his answer a lie (which would be very bad) or evidence he and Zach have no idea what’s going on (which would be very bad). Other explanations?
Occam's razor. $TSLAQ needed the money, but like the last several times it nearly ran out of cash it didn't want to telegraph how badly. So it lied about this to analysts.
Musk has been CEO too long and through too many raise cycles NOT to know what's going on here.
Issue is that an internal email to employees rallying the troops is not public information, even though Elon knew it would get leaked. He can fall back on exaggeration if anyone wants to hold him accountable to what he told the investors. If he does run out of cash though....f’d!
I don’t think you can compare the two. The letter was to employees, not capital market participants. Word choice is usually different for the two groups.
The growing cash flow must have turned to shrinking cash flow in two weeks. lol
His e-mail said IF they had the cash burn in Q1 for the breakeven forecast.
Go big or go home
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