He calls a NY Times reporter a douchebag and an idiot.
http://www.autoblog.com/2009/04/13/video-elon-99-per-cent-sure-of-doe-loan-calls-nyt-writer-a-hu/
A guy worth a few hundred million puts in a few million of his own money in a high risk business venture with a few other investors but can't raise the money he needs in the debt market. So rather than put in any more of his money or offer equity stakes (assuming anyone will buy them), he gets the government to give him low interest loans for $375 million. If the venture pans out, the government will get back below market rate of interest while most of the rewards will go to Musk and the other equity holders. If it doesn't work out, the government stands to lose $375 million, more than all the other investors combined.
There are definitely worse abuses out there, and maybe some of the facts weren't right in the NY Times piece, but certainly the arrangement isn't beyond reproach.
That makes me laugh.
Quote from: alfred russel on April 13, 2009, 06:47:32 PM
A guy worth a few hundred million puts in a few million of his own money in a high risk business venture with a few other investors but can't raise the money he needs in the debt market. So rather than put in any more of his money or offer equity stakes (assuming anyone will buy them), he gets the government to give him low interest loans for $375 million. If the venture pans out, the government will get back below market rate of interest while most of the rewards will go to Musk and the other equity holders. If it doesn't work out, the government stands to lose $375 million, more than all the other investors combined.
There are definitely worse abuses out there, and maybe some of the facts weren't right in the NY Times piece, but certainly the arrangement isn't beyond reproach.
You're missing the point. He called the guy a douchebag.
Ironically, isn't Elon Musk himself legendary for being a douchebag?
Quote from: Caliga on April 14, 2009, 07:31:34 AM
Ironically, isn't Elon Musk himself legendary for being a douchebag?
There is a sort of closed-circle beauty about the whole thing, isn't there?
:lol:
I liked the Tesla review on Top Gear.
Put this guy, Clarkson and the NYT reporter in a locked room and film it.
I don't like the smell of musk.
Also, doesn't Elon mean "pine"? Pine musk. :)
I thought this was going to be about an aftershave. Or something related to Elon university :unsure: