Zack and I designed and drew a bunch of pets for our RPG game, and we built this retro-terminal app to crowdsource which pets are the most iconic.
We have included 16 pets here, but are adding more every day as we finalize our pets in Aesprite (which is super time consuming haha) from our doodles and ideas. We are ideally going to be adding two pets each day.
PS make sure you turn on sound in the UX because we are really proud of that feature and I think it's really satisfying haha.
"I can't seem to hold more than about 2 levels of call stack in my head"
you should try writing things down! Like, keep a notepad around. I have trouble with this sometimes and writing it down reduces the number of things I have to keep in my head.
It takes a while for the public to react, just like it took a while for Enron and Theranos to be exposed. The market is irrational and the cult of Elon is strong - there’s too much hype, and it clouds people’s judgement.
Also fewer people know these facts than you might expect. I dug through Tesla’s SEC filings to find out, which are hundreds of pages of documents. It took me at least 10 hours of reading. Doing the due dilligence is time-consuming, and it’s really easy to just roll with a speculative opinion, as you’ve seen from many comments in this thread.
Based on my recent experiences seeing friends fundraise in YC, there is a lot of easy money going around, possibly because the low interest rate has pushed investors to look for more profitable investments through Silicon Valley, and money from Asia is pouring in.
Corporate debts is also at an all-time high - there is $6.3T in corporate debt and a cash-to-debt ratio of 12%, a record low. This means that companies are taking an unprecedented amount of risk, so maybe Tesla numbers are relatively less shocking in comparison, but I'm not optimistic it will end well. See junk bond defaults from the 80s.
By the way, Tesla bonds are considered junk bonds. They're officially labeled as B3, or "Highly speculative", and only one rating above "Substantial risks".
Tesla lost ~$2B last year, owes ~$10B in debt, and owes >$400M in interest payments per year alone.
Moody’s downgraded Tesla’s bond rating because Tesla will need to raise more money this year, at least $2B (which is an extremely conservative figure), to avoid Chapter 11 bankruptcy.
Elon Musk also owes >$600M in personal debt that he financed using Tesla stock as collateral. This means that if Tesla stock dips below around $233/share, Musk would face a margin call (sell Tesla stock, driving stock prices lower), or put down more Tesla stock as collateral to fund his debt.
By the way, 90% of the Boring company’s funds come from Elon Musk himself, possibly funded by this personal debt.
Other red flags are that shareholders sued Tesla board members for breaching their fiduciary duties by allowing Tesla to acquire Solar City, assuming an extra ~$3B in debt; and Tesla’s CFO Jason Wheeler left Tesla in 2017 with over half of his stock left to vest.
The reason people are shorting Tesla is that beyond Elon Musk’s cult of personality, the numbers don’t add up. Tesla will need to raise more money this year to survive.
Maybe another perspective is that Tripp is a whistleblower. See:
"But Tripp told CNN he was fired within the last week and sued by Tesla because he was trying to warn investors and the public about problems at the electric carmaker. He said that he discovered that 1,100 damaged battery modules were installed in Model 3 cars that are on the road today. He said that he was also concerned about excessive scrap that is being stored in a dangerous manner on Tesla's property in Nevada that will be expensive to safely dispose of in the future. And he claims that Tesla inflated the number of Model 3's it made when it said it had built 2,020 of the cars in the seven days prior to a much anticipated April 3 report. Tripp said the actual number is closer to 1,900."
Agreed that this was clickbait. I was hoping to read insightful, personal anecdotes. She didn't offer any support for her claims other than: "I'm a pole dancer! And people still take me seriously in tech!" Not to mention the blatant self promotion throughout the piece.
Zack and I designed and drew a bunch of pets for our RPG game, and we built this retro-terminal app to crowdsource which pets are the most iconic.
We have included 16 pets here, but are adding more every day as we finalize our pets in Aesprite (which is super time consuming haha) from our doodles and ideas. We are ideally going to be adding two pets each day.
PS make sure you turn on sound in the UX because we are really proud of that feature and I think it's really satisfying haha.
PSS IT RUNS WITHOUT JAVASCRIPT xD