Layoffs, boardroom reshuffles at Tesla Motors Rumours of layoffs and management reshuffles at Tesla Motors - maker of the famous but as-yet-scarce Roadster electrosupercar - have been confirmed. In the next few hours Elon Musk, Tesla chairman, is expected to announce that he has formally superseded Ze'ev Drori as CEO. Details of "strategic layoffs" will also be revealed. …
Sequoia Capital (http://www.sequoiacap.com/) is the other 800 pound guerrilla (besides Kleiner) in Silicon Valley. Sequoia Capital's "RIP Good Times" presentation they made on Oct 10 to a group of CEO’s they are funding should scare the heck out of everyone:
http://venturebeat.com/2008/10/10/the-sequoia-rip-good-times-presentation-get-your-copy-here/
... all around teh world are feeling the pinch. Seeing as the Tesla is a 0-100km/h in 4 seconds supercar, it's not surprising it's feeling the pinch. In fact I'd be surprised if they weren't. Shame, though - I hope they don't go under, as they're product is a worthy one.
Now for the controversial bit:
If Governments are happy to spend a couple of trillion or more dollars (when totalled up) to shore up banks and mortgage lenders, and given that analysts say that the costs of climate change will dwarf the global credit crisis if not addressed comprehensively and soon, then wouldn't it be sensible to invest in green-tech companies to make sure they don't go under?
to run Tesla between exploding rockets. Or maybe that is why they explode so often, not enough musk to go 'round?
The Roadster anyway is just a snap together, body from Europe, batteries from Japan, tires from somewhere else.... guess they only need 100 people to run the place and assemble the occasional car. Of course production reduction might not bode well for UK or Japanese suppliers...
That is what an American company is, mate.
As my ex-boss from the days when I worked for one used to say: "An American company looks like a flock crows flying in a T-formation. Chairman on the front, VPs right behind him forming the bar on the T followed by a trail of cleaners".
Excuse me for rambling like grandpa; but, this has all happened before during the last oil crisis in 1970s. Electric cars only look good when oil is scarce and expensive. The minute oil dropped below $140 the Tesla was doomed.
Oh, it might still survive, but it will be more like a Segway than a real transportation tool, i.e., an expensive toy for geeks.
It'll not die. The designs exist, the machinery exists, and there's a definite future market for it when the petrol runs out. Plus some of Musk's other interests could cover the costs of mothballing the lot until the oil price rises again and not notice. He's a good enough businessman to know that having this product waiting in the wings for when its called for again is a good investment.
So at worst it'll hibernate. And being an electric car it'll use bugger all energy while doing it.
It's not like it'll have to wait long for the oil price to rise again anyway. So good on Musk for keeping the remainder of his staff and not just dropping the whole company at the hint of increased risk!
So what you're basically saying is that the world financial crisis is a mechanism of "big oil" to reduce the price of oil while simultaneously limiting capital for new technology investment with a view to destroying the nascent market for electric cars and slowing their development?
That's pure evil genius worthy of Darth Bill himself!
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