Musk went all savage on analysts and it cost Tesla.. kinda
Thing with being a billionaire is, you can do stuff and get away with it. Just like this douche billionaire VC who didn't want people using the beach close to his property, he proceeded to close the beach and blocked all access to it. There is obviously more to what happened but that’s a story for another day.
Elon Musk was in his full douche billionaire character last week when he berated analysts for asking 'boring', 'dry' and 'uncool' questions. This statement was to say the least, shocking and sent Tesla's shares down 7.5% wiping away over $3 bn off the value of the company.
So, the story goes Tesla had mixed results for Q1 2018. The company had an all-time high revenue but also made an all-time high net loss. Tesla however reaffirmed to investors that it was expecting to be profitable by the end of 2018 so, no one should be worried.
It was times for questions and analysts from the top banks in the world went on to ask questions about Tesla’s fundamentals. Musk became irate when he was asked questions that were from analysts who he believed were shorting the Tesla stock. To one of the questions, he replied "Next, next. Boring, bonehead questions are not cool. Next?"He opted to answer questions from a youtuber instead. He explained his actions in this thread on twitter.
Please ignore this thread unless you’re interested in a tedious discussion about Tesla stockMay 4, 2018
Scroll, scroll, click, buy
It may not be obvious yet but Instagram has entered the e-commerce space and could become a worthy competitor to Amazon. Last week, the company added a payment feature to its app, meaning IG users will have no reason to leave the platform for literally any reason.
"It lets you register a debit or credit card as part of a profile, set up a security pin, then start buying things without ever leaving Instagram" - Techcrunch
Instagram is still testing this feature out with a select group of IG vendors. So, it might take a while before you can use it. I can however see how this will favour companies that use influence marketers as they will have a more measurable metric(purchase per ad) for campaigns.
Stalk your friends and watch silly videos only at $9.99/month
Facebook thinks you, the user, may as well pay for the service it offers because ain't nothing free in this world. But seriously, the company is looking into an ad-free alternative where customers pay a subscription fee and your data will be private and served to absolutely no one for ads.
The company asked some users what they think of the idea and some of them said “Facebook is being greedy and asking for money for something it said would always be free “. I foresee a massive exodus from the platform if users are required to pay for it.
If it goes the whole nine yards with this, Facebook will not be the first social media company to embrace an ad-free subscription model. YouTube has an ad-free paid streaming service called YouTube Red.
And that’s a wrap for this week. If you enjoy this newsletter, I’d love it if you’d tweet or forward to the two people who you think would enjoy it most.
Until next week,