Musk's 100 enemy

Source: Institute of Remote Communication.

In the United States, it may be a pervert killer, a terrorist or just a Tesla bear who took the initiative to hit people with hi

Source: Institute of Remote Communication.

In the United States, it may be a pervert killer, a terrorist or just a Tesla bear who took the initiative to hit people with his car.

20 19 April, Randeep Hothi drove a white Honda Acura on Interstate 880 in California, USA. He found a red Tesla Model 3 in front of him, with a funny upright tripod and a camera at the top taking a demonstration of autonomous driving.

After the hot girl followed, she picked up the camera to shoot. After 35 minutes of silent tracking, it suddenly accelerated and crashed into Model 3 from the side [1]. The three people sitting in the car were stunned. Because they are close at hand, they have no time to react. Fortunately, the side safety function of Model 3 was activated, and a dodge avoided collision.

After the incident, Musk cursed: "This madman is only 6 inches away from the employee who killed me!"

It is not ordinary people who can make Musk break the defense. Hotty was born in India, then immigrated to the United States with her parents and lived not far from Tesla's factory in fremont, California. He usually wears a headscarf and has a thick stubble. Although he is only a graduate student on the surface, he secretly has a dangerous identity: retail investors who are crazy about Tesla.

Landip Hawes dressed as a Sikh.

Just two weeks before the accident, Hotty sneaked into the parking lot of the fremont factory for a zero-distance sneak shot. After being discovered, Mr. Hotty hit a security guard and ran away-it can be seen that American students have strong hands-on ability, and the university students on Twitter have started to beat capitalists.

Hotty has been a firm "black" for many years. After getting the first-hand black material, he will expose it through an anonymous Twitter account and label it "#TSLAQ". "TSLAQ" is the stock code when Tesla delisted. The mysterious code behind this code is no longer a simple personal behavior, but a short-selling movement with a broad mass base.

TSLAQ is an organization on Twitter, which is jointly initiated by lawyers, doctors, pilots and people from other backgrounds. Their only task is to post bad news, pictures and videos on Twitter, and then try to influence Tesla's share price-of course, more importantly, make some money on their short accounts.

Bold artist TSLAQ often strikes hard: today, he sends a drone group to fly over Tesla's factory to take photos to reveal the secret, and tomorrow, he arranges Tesla's unexpectedly accelerated 122 accident and reports it to the Traffic Management Bureau. Even a doctor with the ID of TeslaCharts uses charts to predict that Musk's Solorcity is suspected of fraud, which has been confirmed.

For Musk, TSLAQ is like a fly hovering overhead. Of course, it's not a good thing for an old horse who has been trained in many wars. He first wrote an email claiming that Hottie "almost killed Tesla employees" (but the court didn't actually convict Hottie), and then let this email "accidentally" leak to the Internet, which immediately attracted a group of Tesla iron powder, personally attacking Hottie and threatening death.

In order to protect his family, Hotty left the last tweet: Tesla's share price is zero, and Musk's destination is prison.

Hotty's last Weibo.

Reality gave the spice girl a loud slap in the face. After his "retirement", Tesla's share price rose more than 20 times, reaching $65,438 +0.2 trillion, and Musk once became the richest man in the world. This tweet became a watershed for bulls and bears: before, bulls and bears won and lost each other, and then bears began to be crushed by blood rivers.

Hotty is only a retail investor, but there are many Wall Street tycoons who have been crushed with him: David Einhorn of Greenlight Capital, Jim Chanos, a super short seller, Michael Burry who short-sold Wolong Feng Chu -Citron and Muddy Water ... and even Bill Gates was involved.

In the end, they created the largest short crematorium since the birth of American stocks.

By the time Tesla peaked at 202 1, 1 1 and began to plummet, the early Tesla bears had basically recognized their losses. They can only stare at Musk shooting rockets, receiving Twitter, sleeping with his wife, and selling electric cars all over the world, gradually becoming the richest man in the world and the darling of the media.

The problem is: those losers are the smartest brains on Wall Street. Why do they want to sell Musk, who is known as the "God"? Are they really wrong?

0 1 World War I: When the China stock butcher meets Iron Man,

Andrew left, the founder of Citron, was the first famous short seller to pester Tesla.

Citron Research is an investment institution specializing in short selling, with only one employee and founder Lefort. Since the establishment of 200 1, citron has shorted more than 150 companies. As an old friend of Chinese stocks, citron has attacked 20 Chinese stocks in six years, of which 15 has fallen by more than 66%, and seven companies have been delisted.

Andrew left (Andrew left)

Tesla 20 10 went on the market. Although it is the only newly listed car company in the United States in the past 50 years, it has attracted much attention. However, because Model S has not been mass-produced, no wild analysts dare to brag, so the market value has been hovering around several billion dollars. Two years before the listing, the stock price was tepid and did not enter the eyes of a senior bear like Love.

By 20 12, Tesla had launched the Model S of $70,000, but the production capacity could not keep up, and only 10 electric vehicles could be produced in a week. At the most critical time, Tesla's book capital was not enough for one month. On the verge of despair, Musk planned to sell Tesla to Google at a low price of $6 billion [3].

In the first quarter of 20 13, Tesla miraculously made a profit of 1 1 10,000 dollars by selling cars to all employees, and then its share price soared five times a year. Musk took the opportunity to ease the funding problem with additional issuance, and Google's acquisition naturally disappeared. This demonic performance was described by the debt king Gundrake as "having a religious feeling".

Bears like this nonsense have risen. On September 20 13, Lefort sent a message to short Tesla.

The so-called short selling means that short sellers borrow company shares in advance, buy back cheap shares after the stock price plummets, and return them to the borrower to earn the difference. In order to get the company into trouble faster, Lefort usually releases a short report in advance to crush the confidence of the market.

Citron short report, 20 13

Lefort's bearish report, briefly summed up: from the product point of view, at the price of Model S, users can't accept the simple interior without sun visor; Judging from the competitive pattern, Mercedes-Benz has launched a new S-class hybrid, and the old car companies are about to counterattack; At the same time, Tesla's R&D costs are lower than those of its peers. There is no reason to say that he is a technology stock and is not valued by auto stocks.

Lefort wrote in the report: "If Mercedes-Benz has 60 on-board computers, can it become a technology company?"

In Shannon's eyes, the most incomprehensible thing is that analysts regard Tesla as a new apple: when Apple launched the iphone, its share price did not soar to 500 billion US dollars, and its price-earnings ratio never exceeded 25 times, while Tesla's price-earnings ratio was as high as 220 times; Apple's products are sold all over the world with a gross profit of 60%. Tesla squeezed into California to build cars, and in addition to subsidies, it also lost money.

Lefort's report tells the biggest disagreement about Tesla in the market: What is the anchor of Tesla's share price? Is it estimated by 10 times of auto stocks or 100 times of internet stocks? This problem will always plague investors and cause the ups and downs of Tesla's share price-if it rises, it will be madly sought after and even refer to the valuation of SaaS, and if it falls, it will be eager to reach the level of Toyota GM.

After the Shannon report was issued, Tesla fell by nearly 40% in two months, and Love won its first battle.

In hindsight, this is only the beginning of a "long-term struggle" between Shannon and Tesla. Moreover, their ape dung transcends investment and extends to gossip and morality: in 2008, Andrew left his job and divorced his wife, and his ex-wife split half of his property, and later married Alan Salzman, an early investor of Tesla.

Alan Salzman is famous for attacking villas in the Silicon Valley Bay Area, and his shares in Tesla are worth at least $2.3 billion. But after his ex-wife's "design", Lefort pays his ex-wife's current husband $65,438+08,000 in rent every month in addition to alimony, just because their children spend more than 50% of their time in their new home [3], which is even worse than Wang Xiaofei.

Lefort's ex-wife and Allen Salcman, NYP

Andrew Leif angrily filed a lawsuit, but he went all out to continue to cooperate with Tesla. Fortunately, there are more and more "comrades in arms" around him. After a brief decline, Tesla shares continued to rise at 20 14 and 20 15. More and more investors don't understand Tesla's valuation method, and many of them have joined the short camp.

On the other hand, since the weekly output of Model S rose to more than 65,438+0,000 vehicles in 2065,438+05, Tesla's influence has gradually spread from the science and technology circle to the public circle, with more and more diehard fans. Therefore, the long and short forces around Tesla are increasing day by day, which not only makes Tesla a super bull stock, but also makes it a short-selling stock of US stocks.

20 16 a new round of short-selling storm began to brew, and another heavyweight short Jim Chanos joined the table.

02 blood loss: emergency ability, the mirror image of Enron

Different from the design of Shannon by network celebrities, Jim Chanos has a deep background and is one of the financiers behind US President Biden.

In 200 1 year, Chanos exposed Enron's financial fraud, forcing Enron's CEO to go to prison for 24 years [5] and became famous in World War I; In the 2008 financial tsunami, he earned 44% profit by shorting, and the management scale reached as high as 7 billion US dollars at the peak; In the Financial Times [4], he was called "lebron james who sold short."

Jim Chinos shorted Enron.

Although he overturned several times when he predicted the real estate crash in China, Chanos achieved an annualized return of 22% of his flagship fund in the past 35 years through short selling strategy. This abnormal return has aroused the envy of countless people. People described him as "having two horns on his head and spreading syphilis [4]". Today, his tentacles extend to Tesla.

In the autumn of 20 15, Chanos kept a low profile and shorted Tesla [6]. Chanos's point of view is clear. People are not investing in Tesla, but in Musk himself. In other words, Tesla is not a car manufacturer that can make a long-term profit at all, but a cult of personality built around Musk.

A year later, Tesla acquired the photovoltaic company Solarcity for $2.6 billion, which deepened Chanos' short-selling belief. Before the acquisition, Chanos shorted Solarcity, knocking out the share price of 12%. He is well aware of the nature of this photovoltaic company. After the merger, it will consume at least $654.38+0 billion in Tesla's cash flow every quarter.

Moreover, the two founders of Solarcity, Lyndon Rive and Peter Rive, are cousins of Musk, which seems to be a large-scale interest transfer of "getting rich first and then getting rich". Chanos believes that this will lead to serious "corporate governance problems". As he predicted, his cousin announced his departure less than eight months after the acquisition.

Musk and two cousins

Big acquisitions have made the family unable to open the pot. What is even more frightening is that Musk had a dream, in which he saw a fully automatic future super factory, which looked like an "alien warship" with an area of 100 football field [7]. When he woke up, Musk excitedly held a meeting and announced that he would let "machines produce machines". Stunned executives don't know that this dream will be the beginning of Tesla's "productivity hell".

Musk first let the opposing executives graduate collectively, and then boldly opened the fully automated production line of Model 3. Coupled with the construction of Gigafactory in Nevada, Tesla has ushered in a more violent mode of burning money. Contrary to expectations, it takes a process for robots to learn to screw, which leads to the rejection rate of batteries produced in the later stage as high as 40%, and the FPY (one-time factory rate) of cars is only 14%, which greatly delays the delivery of Model 3.

At this time, in Chanos' eyes, Tesla is full of loopholes: cash flow is in a hurry, production capacity problems, patent disputes, a century-old car company counterattack, new car-making forces are catching up, government subsidies are close to the upper limit, and business is not focused enough. In the end, Chanos's short positions accumulated more and more, which can be described as everything, just waiting for the decline.

But in 20 17, Tesla rose by 44%, and the Wall Street Air Force lost a total of $4 billion. Chanos remained calm: "I don't care if it's 30 dollars, 200 dollars or 300 dollars." Meaningless. Tesla shares are worthless. "

After shorting Tesla, Chanos's net worth almost stopped rising.

Chanos's loss is indeed very limited. He made a long position of 190% and a short position of 90%. In short, doing more depends on passive index investment, shorting depends on active financial mining, and doing more guarantees for Chanos' shorting, so even if Musk really occupies Mars, his performance will not return to zero.

On the contrary, the bears' judgment on Tesla began to be gradually concrete. On July 20 17, Tesla Model 3 went offline. Musk's goal was to produce 1500 vehicles in the third quarter of 20 17, but only 260 vehicles were produced in the end. Tesla began to enter the most painful "productivity hell" period, and Q3 financial report suffered the biggest single-quarter loss in history.

Musk put more and more things on his plate, but the world didn't run at his speed. In the struggle between ideal and reality, he gradually moved towards the darkest moment of his life.

Attack: When your head is illuminated by green light.

In 20 18, the short-selling organization TSLAQ sent a drone to fly over the factory in fremont, and photographed a chaotic scene.

There is no neat workshop in the lens. Instead, it is the absurd scene of workers "wearing fur coats in the morning, wearing gauze in the afternoon and building Tesla under the tent": opposite the factory is a huge "tent", and the big fan swings back and forth in the scorching sun. The record-breaking PM2.5 is even worse than heatstroke, and the workers can still smell the smoke from the raging mountain fires in northern California from time to time.

Fremont tent production line, photo by TSLAQ.

At this time, Tesla was deeply mired in the "productivity hell", and the commitment to produce 5,000 Model3 3s per week from 438 in 2065 to 2008 was getting farther and farther. In order to ensure delivery, Musk can only temporarily build a huge "tent" (actually an aluminum structure) covering two and a half football fields in the factory parking lot. He ate and drank Lazar in the tent for 24 hours, and even laid the floor for the supervisor.

But bad news keeps coming. In March, a Model X had a car accident when using the autopilot function, and the driver died after being sent to the hospital; At the end of the month, Tesla recalled 654.38+0.23 million Model S, accounting for 80% of its total sales. According to Bloomberg's calculation, Tesla will go bankrupt before September at the rate of burning $6,500 per minute.

Under pressure, Musk's temperament changed greatly. He smoked marijuana in an interview and cursed that the hero who rescued the team trapped in a cave in Thailand was a "pedophile".

Short sellers don't give a break. On April 20 18, short positions began to increase. Until July, Tesla's short position accounted for 27.5% of its outstanding shares, and he wanted to swallow Musk. More dangerously, a more formidable capital shark smells blood-David einhorn, the founder of Green Light Capital.

David Eindhoven has many labels-billionaire, hedge fund tycoon, first-class handsome guy on Wall Street, and world-class poker player. Once ranked third in the 20 12 World Poker Competition. Under the symphony of slot machines in Las Vegas, Sin City, Eindhoven's handsome face that makes Hollywood actresses scream can always appear.

Eindhoven calls himself a "long-short value investor". Most of his funds are actually used to go long, but what really makes him famous on Wall Street is shorting. Classic cases include Lehman Brothers, green mountain coffee, United Capital and Netflix. He later compiled his great achievements in shorting into a book-The King of Bears.

Since 1996, Greenlight Capital has achieved an annualized terror return of 15.4% [9]. He once described the difference between himself and Buffett as follows: "If I were a baseball player, I wouldn't hit a home run every time, but as long as I see the ball coming, I will not hesitate to hit it with all my strength."

There is no doubt that 20 18, he thought that the dying Musk was the flying ball.

Huo Wen (first from left) and Chanos (first from right) participate in the "Wall Street Poker Night"

Compared with the bald Lefort and the old Chanos, the handsome and rich Eindhoven is Musk's preferred "enemy" type. The two quickly choked up on Twitter. 20 18 May, Musk tweeted the bear: "The biggest bear burning operation of this century is coming, and the flame thrower is about to arrive at the scene."

Relying on the tent production line that forced employees to work overtime for 6* 12 hours, Musk once again made great efforts to create a miracle. Tesla miraculously reached the weekly output of 503 1 Model3 3s at the end of June 20 18, and laid off 4000 people to control costs while promoting delivery, and finally achieved profitability in the third quarter. Musk breathed a sigh of relief and immediately sent Huo a box of shorts (short has a double interpretation of short and shorts).

The next day Eindhoven posted a photo on Twitter: "The shorts have been received, but they look of average quality." In the speech, it is ironic that Musk will catch up with the capacity target by hook or by crook, while ignoring the detection of safety links.

In order to eliminate all bears, Musk announced the privatization of Tesla. On the same day, the stock price rose directly by 1 1%, scaring Tesla's pink-headed sister Cathie Wood's personal credit. "It is not appropriate for Tesla worth $4,000 to privatize for $420." However, Musk doesn't think so. The $420 symbolizes the Marijuana Festival on April 20, and this round of bonfire prince was once interpreted by the media as pleasing his drug-addicted girlfriend.

Watching the excitement is not too big. At this time, I jumped out and reported to the US Securities and Exchange Commission SEC that Musk manipulated the stock price.

17 days of privatization farce came to an abrupt end. The SEC sued Musk for fraud, and Tesla plunged 13% that night. In addition to being fined 20 million, Musk resigned as chairman for three years. In an interview with Ted, Musk recalled this scene [1 1]: "These bastards are like pointing a gun at a child's head, and I was forced to give up turning myself in to the SEC."

On the second day after Musk cursed the SEC as a "committee for short sellers to get rich", Hoven took the opportunity to compare Tesla to Lehman in the quarterly report: "They have many similarities." He said, "for example, threatening short sellers, refusing to raise funds (or even buying back shares), and publicly privatizing. A few months later, when the reckless behavior of management led to bankruptcy, shareholders, creditors, employees and the global economy all paid a huge price [12]. "

Gradually, Tesla moved from "productivity hell" to "delivery hell". With the delivery volume of Q 1 in 20 19 decreased by 3 1% month-on-month, Tesla's problems broke out, such as scratches and depressions, purple screen, abnormal steering wheel and so on. In his letter to shareholders, Eindhoven sneered: "The car is falling apart and even the wheels have fallen off."

20 19 In May, in front of hedge fund managers who were embarrassed by Thorne Investment Conference, Eindhoven pointed to the frowning photo of Musk on the slide and described: "This is horse manure." Then, Huo Wen wrote a letter to Tesla's accounts receivable fraud. When he saw the departure of 40 Tesla executives in 18 months, Eindhoven's good friend Chanos compared Tesla to the Enron he slaughtered and gave him the biggest short position assist.

Although the bears' attacks are fierce, their emotions are gradually getting tense, because Model 3 has proved to be very popular with consumers, and it can sell well as long as the capacity problem is solved [10]. Shannon even just reported Musk to the SEC, and later sent a report about singing more Tesla, slapping her face more than anyone else.

Time is not short. The transaction cost of shorting is usually higher than going long, and short sellers like Eindhoven and Chanos just want to make a quick decision. However, the nature of this contest has gradually changed from blitzkrieg to protracted war, from financial war to public opinion war, and even under the "teasing" of Musk, many personal feelings have been added.

The last straw that finally crushed the bear was a place far beyond the Pacific Ocean that they might not have heard of: Lingang.

04 massacre: hedge fund's $50 billion rout

On 20 19 and 10, Tesla's Shanghai factory was finally put into production, and the stock price rose by 30% in four trading days, and the bears ushered in a wave of blood washing.

Musk will not miss any opportunity to respond to his opponent. He sent another box of underwear to Eindhoven, and then ironically knocked on the keyboard: "Dear Mr. Eindhoven, considering the losses caused by the success of Tesla Q3, it is understandable that you want to save face in front of investors, especially because your performance has been declining for several years, and the management scale has dropped sharply from $65.438+05 billion to $5 billion."

Finally, Musk also invited Eindhoven to visit Tesla's factory. Eindhoven can only grit his teeth and try to find the venue by digging up old accounts: "The core difference between Greenlight Capital and Tesla is that we have created tangible profits for investors from the year of its establishment, while Tesla has recorded losses for more than ten years."

By the end of 20 19, the soaring stock price and Musk's four "teasing" made a group of Wall Street stars with high blood pressure stand on the opposite side of Tesla, including:

David Eindhoven of Greenlight Capital,

Jimmy Chanos of the Knicks Joint Fund

Mark Spigel, stanfield Capital Management Partner

Mark Iusco, founder of Morgan Kerry Capital Management.

John thompson, the capital

Muddy water, that is, preparing to do something about Rui Xing.

Of course, according to the general psychological principle that value investors are "more vulnerable", the soaring stock price also means that the "space" for short sellers is greater. For example, in the fourth quarter of 20 19, Tesla soared by nearly 80%. On the other hand, it also means that short positions have increased by 44%.

Therefore, even if the super factory in Shanghai's Lingang has started to explode, global consumers have begun to queue up to buy Tesla. Carson Brock, the founder of Muddy Water, still tried to tell the media: "Tesla is like a sports car that burns money as fuel. Driven by Musk, it is on the verge of losing control."

How fierce the lineup is, how difficult it is to lose. With the Shanghai factory breaking the bottleneck of production capacity, autonomous driving is far ahead of peers, and the SaaS model of OTA charging completely subverts the traditional automobile industry. Tesla has really become an unimaginable four-wheeled apple in the bear market, and the valuation has opened the ceiling.

In 2020, the losses of Tesla bears reached an astonishing $38 billion, and in August alone, the bears lost $7 billion, making history.

In 2020, the losses of bears on Tesla far exceeded those of other stocks.

The overwhelming victory over the bears made Musk feel good, and by the way, he also sent a box of bright red satin underwear in Phnom Penh to the SEC.

From June 5438 to February 2020, the market value of Tesla rose to US$ 600 billion, which is three times that of Toyota and exceeds the sum of the market values of the top nine car companies in the world. The previous short-selling camp basically collapsed, but new short sellers still joined in, such as Michael Burry, the prototype of the movie The Big Short.

Barry announced that shorting Tesla at the end of 2020 is indeed a more cost-effective short time. The starting point of his short selling is actually the old-fashioned disagreement about whether Tesla is a technology stock or an automobile stock. Barry believes that when the overall marketing rate of the automobile industry is only 0.35 times, the marketing rate of Tesla 18 times is obviously unreasonable.

But he also found a new basis-the gross profit margin of selling cars is not the cost optimization brought by the Shanghai model, but by selling carbon emission points. With the termination of the carbon emission credit policy, Tesla's profits will become weak. As a result, Barry gradually increased his short position, while the S&P 500 participated in Tesla's rise.

By the end of June, 20021year, Scion Capital, Barry's hedge fund, had held 165438+ 10,000 put options (worth 73 1 10,000 dollars) and 235,500 put options of Muse Ark's innovative ETF-Muse Cathy Wood's heavy warehouse Tesla, which is Musk's favorite Wall Street.

Michael Burleigh (left) and the image in the movie "Bear"

As a result, Tesla's share price doubled in the next six months, and Barry, who suffered heavy losses, almost emptied his put option in Tesla near the highest point. Musk did not forget to spend the night at send warm, calling Barry a "broken clock" on Twitter, and the humiliated Barry immediately cancelled his Twitter account.

As the "last straw" of the short camp, Barry's defeat put an end to this long and short war that spanned nearly 10 years.

By 2022, Tesla's "knee chop" expected by the bear market finally happened. Tesla's market value fell by nearly 70%, and its short-selling profit exceeded $65.438+0.5 billion-this figure seems huge, but it is far less than the short-selling loss of $ 565.438+0 in 2020-2026.5438+0, and even many big bears fell before dawn.

As for Musk, he put more and more energy into saving the deep pit of Twitter, and he was no longer as keen on wearing underwear and taunting Tesla's bears as before, which made the onlookers less fun. And those bears who made money in 2022 also became cautious, afraid of being hit in the face again.

"It's not easy to be a short seller of Tesla," concluded Lefort, the founder of Citron. "This is a painful transaction [13]."

Ending part

Counting Tesla's short positions is nothing more than the following seven:

1. Resistance: David Eindhoven 20 19 and Musk's underwear confrontation can be recorded in the history of hedge funds forever. In 2022, the performance of Eindhoven picked up, with a revenue of 36.6%. Continue to buy 1 0,000 Tesla put options at the end of the year (value10.6 billion USD). The game is far from over for him.

2. Faith: Although Chanos began to continuously reduce Tesla's short positions at the end of 2020, he still adhered to his belief and maintained a short position of 65,438+0% in the portfolio. Although his head hit the south wall, he stubbornly believes that Tesla is just a car company, not a technology company.

3. Wall-sitter: Shannon was the first bearish, and her logical judgment on Tesla was ahead of all the bears, but later she rebelled and wrote more reports. In 2022, she was bearish again. This pattern of repeated jumps seems to be the most unreliable one in the short camp.

4. Surrender faction: 20 19 Muddy Water Carson Brock shorted Tesla because Musk was too narcissistic and Tesla burned money unsustainably. Later, I was deeply impressed by Musk's trick of "being good at changing from a hat to a rabbit". Give up short selling in 2020 and convert to religion.

5. Restore: Barry's short position accurately stepped on the lowest point of 202 1 Tesla's share price, and clearance happened to be the highest point of the share price. A year later, after Tesla's energy storage battery caught fire, Michael Barry immediately issued a reminder that Tesla should be shorted, which seemed to show signs of a comeback.

6. From a distance: Buffett and Musk have long since disdained each other. He once warned Sun that Tesla was not a good investment choice. Munger and Buffett have similar views, but the two old immortals are well versed in market rules. Although it is not optimistic, it will never be short.

7. Hidden faction: Bill Gates praised Tesla and Musk many times in public. So, in April this year, Musk broke the Tesla short option holding $500 million. According to the FFO report, among the 26 anti-Musk organizations, * * has 1 1 supported by Gates [14].

In addition to seeing schools from a distance, other schools are basically surrounded by heavy troops. The so-called six sects besieged Guangmingding, but they were killed alive by the practising leader. After going down the mountain in a panic, he was captured alive by the government (Federal Reserve) with ten fragrant soft tendons (raising interest rates)-it is simply an electric car version of "Eternal Dragon Slayer".

Someone asked such a question on Zhihu Quora: "How can I become Gates, Jobs, or Musk?"

Justine Musk, Musk's ex-wife, replied: Extreme success comes from extreme personality and many other sacrifices. ..... These people are out of tune with the society and are usually regarded as "freaks", so they are forced to experience the world in an unusual and challenging way.

History has never given mankind a "perfect" genius. All great men have all kinds of defects, and few saints are virtuous, virtuous and outspoken. But the progress of human civilization is inseparable from the promotion of these "freaks".

To be fair, China society has a high tolerance for business heroes. Whether it is a full train, corruption and imprisonment, or erotic incidents, as long as it is a commercial success, there will certainly be no shortage of admirers, and even Jia Yueting can get the opportunity to "cheat" again and again.

On the other hand, once domestic entrepreneurs "short-circuit", they will be seriously insecure. While packing up their own soft things, they will respond silently. Previous supporters usually dare not say more, leading to one-sided public opinion and countless people following suit.

On the other hand, this "Mr. Ma" in the United States was besieged by the capital market, investigated by the regulatory authorities, named by senior government officials, cursed by the big V, sent to prison, defended by users, rumored by tabloids, followed by black powder, introduced by the media, but never retired early, and was keen on queuing with "enemies" every day.

This "sense of security" is part of the reason why the United States can continue to produce subversive innovations. It's hard to learn in other countries, and I'm afraid I can't learn.