What the smug might say after Tesla proper joins the history dustbin of failures – ($11 million dollars per day Net)

But hey, I made money on it.

That is a bit like a criminal avoiding jail after stealing your wallet or purse.  Or it is the kind of thing a bully would do after stealing your lunch pail. This to me sounds like a phyric victory, but it very much fits some of the sociopathic pathologies that might arise out of the culture in moral decay.

In any event, let’s put Tesla’s most recent disappointing in some base numerical perspective.  Tesla lost approximately $10 million dollars per day on its net income bottom line. Of course, it doesn’t show up that way with the company obfuscating the numbers by reporting Non-GAAP Eps. More importantly, however, is the fact that the government subsidy in Tesla’s numbers have to be implied, but to ignore them would be an obvious mistake of omission since they are material. 

Let’s assume therefore that there is a10% subsidy per car from the various governments ( Norway, California, US Fed , Various state credits etc ) … ie 300 million at least of hidden top line subsidy… so instead of the reported GAAP loss of ~4 dollars on ~170 million shares, this volcano really lost $1 billion on their most recent quarter. A quarter of the year, therefore, means that the company dropped about $11 million dollars a day.  Put another way, Tesla’s subsidy heist not only improves their gross margin by 10% in automotive but is hiding somewhere between 30 to 40% of the bottom line reported figures.

Roll on Q1.


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