If you think it’s impossible that large, established, publicly traded companies can be massive frauds you really need to read the Wikipedia article about Enron.
The alarm signals right now from Tesla (multiple senior people stepping down, massive axing of entire departments, rumored pivot to software/AI only) are bonkers.
@thomasfuchs well. The Enron email graph kept everyone analysing organisational communication structures for years. It’s time for a refresh which includes Slack messages and zoom meeting transcripts
@thomasfuchs That article also links to the WorldCom bankruptcy in which “several executives … were convicted of a scheme to inflate the company's assets”. I can’t think of any contemporary cases like that in NYC right now 🤔 https://en.wikipedia.org/wiki/MCI_Inc.
@thomasfuchs Although on the Tesla front it feels less like accounting fraud and more like Cyber Boer massively over leveraging himself on Xitter at the precise moment Tesla were losing their first mover advantage and needed to turn into a proper car company that had like… QA and build quality. Their model lineup is outdated (by automotive standards) and with no new cars in the pipeline they’re losing ground to other manufacturers. An absent CEO is death at that point.
@thomasfuchs Yeah I mean there was quite the fuzz with Wirecard (Germany) not long ago.
I cannot give financial advice, but both the fundamentals and the outlook are bleak.
Still, I'm on board with Hitchen's law... until further notice.
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