Is Elon Musk a scam artist?

I’m beginning to have a terrible felling that the Wall Street darling Elon Musk is a scammer.

He recently announced that he decided to delay the colonization of Mars from 2026 to 2031.

“One of the main reasons for the delay is the company’s  need to raise more funds for the Mars colonization mission. Apparently, the movement of the project has taken longer than expected; thus, the Dutch venture had to be postponed.”

His company is actively collecting investors’ money to fund this project. Will he delay the project again in 2031?

Are Musk’s companies just a Ponzi scheme? He comes up with all these crazy projects that end up financial black holes and wants more and more money from investors. His Tesla company has never turned a profit since inception. Now he wants to colonize Mars, and for that he needs billions of dollars, which he takes from hopeful investors.

No one is using any of them

according to those who follow this kind of thing

The head of the biggest privately owned U.S. coal producer on Monday called electric-car maker Tesla Motors Inc. a “fraud” for failing to turn a profit despite subsidies. Bloomberg

a techie

he’s like Thiel for a different party (in fact Thiel was right about how the election would shake out); he runs off publicity stunts and a doe-eyed American faith in technology unhampered by cost or the laws of physics

every time a rail system gets proposed all the wackjobs pour out with endless endless untried/failed technologies–PRT pods, pods in tubes, vactrains, monorails, superbuses, flying cars, automated cars, fusion-powered automated cars, liquid fluoride thorium reactor-powered automated cars; naturally this is well-funded by NIMBYs afraid that Black people will ride the train and boost their flat-screen TVs

and after years of sealioning, then they build the ol’ steel on steel: I have two convincing arguments against the imagery that Musk surrounds himself with that lets him damn the media while still getting that lucrative coverage (and I sit on them every time I go into town)

take Hype(r)Loop–he promised 10% the cost and the usual vaporware nonsense that gets people giddy: he didn’t put a cent into it and now the project is reduced to recapitulating 80s rollercoaster technology and secretly telling its investors it’ll cost more than a bullet train (Third Way = Bell Curve)

He's the leader of a Cult, a scam artist, and a liar

A little digging reveals a story that is different than that repeated over and over by his Cult.

For example, the Tesla battery swap idea was a scam to steal millions of dollars of tax money from the state of California. Some of his cult followers still think there’s going to be a battery swap station on every corner. They rigged a Demo, then took the $.  A full expose on this scam can be found here:

The Tesla battery swap is the hoax of the year

Nothing says Progressive like taking tax money from the poor and middle class to subsidize $110,000 cars for rich people. Tesla may not have made it this far without this  “contribution”.

The Model X is a nightmare, Elon insisted on the falcon wing doors, which are trouble when the car is new, and a disaster as the car gets older.  The latest from Consumer Reports on the other Tesla- the Model S: Unrecommend- Tesla Reliability Doesn’t Match Its High Performance

Tesla – a money losing company (despite last quarter, which was fudged) just bought another money losing company. Coincidentally, Elon was the Chairman of that other money losing company- Solar City. It was a bailout- for Elon and the shareholders. There are plenty of other examples of why this Musk person is not what he is made out to be, such as publicly sliming Hydrogen Fuel Cells (“Fool Cells”, said Musk) – insulting tens of thousands of good people that have been working for years to make this clean energy happen. Now his Cult followers run around bashing hydrogen on every electric vehicle website in the world. Fuel Cells are competetion to a battery only car, yet those who defend the tech are labeled “shills”.

For a good summary of what the future looks like for Tesla see this:


it’s a Ponzi scheme.

Elon Musk Is a Reckless Scam Artist

Elon Musk
Elon Musk

In light of the recent failure in Florida – the massive explosion of SpaceX’s Falcon 9 rocket and the quick destruction of Facebook’s $195-million-dollar satellite as a result – it is important to test the validity and future of Elon Musk’s space program and business model.

Earlier this year, Elon Musk was quoted  as saying that the “Falcon 9 rocket costs about $16 million to build…  but the cost of propellant… is only about $200,000.” This egregiously wrong estimate raises questions about Musk’s grip on reality — after all, just this year a single launch cost about $62 million dollars.

 The reason why costs have skyrocketed from previous estimates is that the Florida failure marks the second failure in fifteen months. This is of no surprise — rocket delays are very common for SpaceX. Critics and fans alike have agreed that Elon Musk can certainly dream big, but then lack on the delivery. It’s why SpaceX is reported to have delayed each of its launches an average of two years each.

But this begs the question: If SpaceX has not been able to deliver on launch times, why should the market expect to see successful and timely launches in the future? How does Musk manage to stay in business?

The answer is that the market isn’t the one to decide, despite the fact that SpaceX is apparently a private company. Out of all of SpaceX’s contracts, NASA is documented to contribute to 85% of SpaceX’s revenue. Additionally, the number of direct governmental subsidies (without accounting for tax credits) climb up to about $5.5 billion dollars and is also peppered with $200 milliondollars in varying governmental contracts.  These estimates do not even account for the money Musk funnels in from SolarCity and Tesla, his two other ineffective companies which receive $4.9 billion dollars in government support by themselves.

Without the help of the government, SpaceX would not have been able to fail as many times as it has. Private investors would not tolerate Musk’s reckless mismanagement, and the company would’ve went belly-up years ago. But, since SpaceX is essentially a built-for-government company, Capitol Hill will continue to allow Musk to waste taxpayer dollars on futile launches and projects.

Last year’s failed Falcon 9 launch — the one that caused $118 million dollars in taxpayer-funded cargo to be blown to smoke — should have taught the government a lesson about picking “winners and losers.” The winners they think they are picking are actually losers that are stealing American family’s money, and effectively stifling innovation in the market of space flight.

The excuse for the failed Falcon 9 flight fifteen months ago was, according to Elon Musk, the result of being a “little bit complacent,” as well as the failure of a third party manufacturer to produce a structural piece. Now, the Falcon 9 failed yet again, and a delusional Musk shouldered the blame on an imaginary UFOinterfering with the launch.

It is inexcusable to make the same mistakes in such succession and expect that the government and the market will buy into incredulous lies, all while continuing to dole out taxpayer-funded contracts.

Meanwhile, as the government continues to fund Musk’s reckless projects, SpaceX’s main competitor, the United Launch Alliance (ULA), is sitting on the sidelines with an impressive 100% success rate  for launches.

Tell me: why does the government continue to let Musk waste our tax dollars when the contracts can instead be given to a fully efficient competitor? It is truly mind boggling. When the government seeks contracts, it should go with the company that has the best return on investment, not with the company that gives a cheaper estimate and then continuously blows the projects up into pieces just months later.

This should especially be the case when dealing with Elon Musk, a reckless CEO that has also effectively delayed every line of his car line through Tesla Motorsand turned no profit margin. It should be easy to determine the track record of a man who has historically shot for the stars, but ended up back on earth because he could not even get ten feet off the ground.

Washington should only invest in spaceflight when it understands how to make a good investment. Just because you like Elon Musk and his vision for the world does not mean that he will deliver on his promises. Actions speak louder than words, and at this point, Elon Musk’s actions have spoken loudly. It is time to take a step back and ask how many of Elon Musk’s promises are empty words without results.