Move Over Tesla


#1

#2

NextEV claims they are the next big thing. It’s a Chinese company with an office in N SJ. It reminds me a bit too much of Le Eco’s expansion to the bay area and claims. .


#3

Oh, I was honestly thinking about buying that 85" tv of theirs. They have a new one coming out with quantum dot tech that is supposed to be killer so who knows. If you like electronics, follow the chatter on avsforum.com on tvs or other electronics. You can geek out on hi fi…


#4

They are having cash flow issues from expanding too fast… They may go bankrupt. They already sold land they bought in the valley. They’re already laying off US people. I’m not sure about their products, but I’d run away fast if they offered a job. I hope this doesn’t become a trend of Chinese companies setting up US offices and promising to be the next big thing only to quickly have financial troubles.

I looked at NextEV, because I miss product development of cars. It was too sketchy.


#5

Come on…you know you want back into the Bay (forget Puget Sound)

Rain stopped yet???


#6

It was before I left the bay area. It’s mostly sunny now.


#7

We are really becoming the new “motown”.

GM promises to hire 1,163 workers at an average salary of $116,000. San Francisco is the hub for GM’s autonomous vehicle research and development since the company acquired Cruise Automation last year, said Kevin Kelly, a GM spokesman.

The new workers will include software designers, on-street vehicle testers and support functions like human resources, he said. The company is testing 50 autonomous vehicles on public roads in San Francisco, the Detroit metro area and Scottsdale, Ariz.

“As autonomous car technology matures, our company’s talent needs will continue to increase,” Cruise Automation CEO Kyle Vogt said in a statement. “Accessing the world-class talent pool that the San Francisco Bay Area offers is one of the many reasons we plan to grow our presence in the state.”


#8

Two words: Fisker Karma

They were also “the next big thing” until their cash burn rate and shiatty management destroyed the company. You still see a couple of their vehicles on the road today, just like the DeLorean - another auto company that is trying to rise from the ashes.


#9

Yes, those bags of cocaine would make your car go faster…Mr. Delorean


#10

https://www.dmv.ca.gov/portal/dmv/detail/vr/autonomous/testing

It has all 29 companies permitted to test self-driving cars in CA.


#11

I do not know whether this right or wrong, but someone wrote about TSLA here

His google sheet


#12

I thought they were slowing down solar panel sales to slow their cash burn rate. They are losing money on every solar deal. That model completely ignores the capital raises that will be required to achieve the revenue.


#13

All solar panel industry are service provider like the way bank lends mortgage to us. They buy solar panels from China (cheaper price), get customer to sign up for lease/outright etc (with bank association) and install using local contractors.

During this deal, they make mark up. To my knowledge, solar is competitive deal. Entire solar industry is affected when Obama pulled subsidy (30% tax break - i hope it was gone last year) and Trump putting border tax as they mainly buy cheap panels from China and installing for customer.


#14

Can’t believe that you believe so strongly in border tax. Total corruption of accounting principles. IMHO, implementing border tax is telling the world that USA is no longer an efficient producer and is joining the trade practices of third world nations that they despise previously.


#15

Solar city pivoted back in 2014 and bought a factory. They started making panels in 2016. They are practically insolvent when Tesla bought them. Capital markets had rejected more equity or bonds. Musk and his cousins bought the last Solar City bond offering.


#16

Regarding accounting practices, it is hard to hide from IRS/tax agencies, esp for big corporations until they find some loopholes to do it.

I do not have any say, good or bad, about Border tax, it is all Trump’s Plan. When Trump and Rep congress vote for it, this may be implemented and definitely affect those importing. This has added pressure on solar industries including solar city.


#17

Profit = Sales (price * volume) less cost of goods (doesn’t matter the good is imported or made everything/partially internally)

The border tax says if imported, profit = sales. Implying cost of goods is zero. And I don’t know why is considered hiding from IRS/ tax agencies. To me, it means accountants have to be re-taught many things.


#18

That’d be a HUGE pain. There are already differences in financial vs. tax reporting that create far more work for accounting/finance teams. This would be a huge one, since financial reporting would count the cost of goods while taxes do not. If we’re going to do it right, taxes should be a percent of revenue. The calculation would be really easy. It’d also prevent companies from using losses to offset taxes in future years.


#19

This would favor businesses with high profit margin :grin:, that is Apple :joy:
Wal-mart would curse :rage:


#20

It depends on the tax rate on revenue vs. their current effective tax rate. If you take 8% average profit and 20% effective tax rate (public company averages), then it’d be a ~2% revenue tax. It’d also get rid of lobbying for favorable tax deductions/credits for specific industries.