Elon Musk says ‘China rocks’ while the U.S. is full of ‘complacency and entitlement’

  • https://www.cnbc.com/2020/07/3…-full-of-entitlement.html

    Elon Musk says ‘China rocks’ while the U.S. is full of ‘complacency and entitlement’


    PUBLISHED FRI, JUL 31 20205:31 PM EDTUPDATED FRI, JUL 31 20207:50 PM EDT

    Lora Kolodny@LORAKOLODNY

    KEY POINTS

    • Elon Musk lamented the “entitled” and “complacent” character of people in the United States, and lauded the “smart” and “hard working people” of China, in an Automotive News podcast out Friday.
    • He also said that Tesla had received the least government assistance of any U.S. carmaker.

    Tesla Inc CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020.

    Tesla Inc CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020.
    Aly Song | Reuters

    Tesla and SpaceX CEO Elon Musk lamented the “entitled” and “complacent” character of people in the United States, and lauded the “smart” and “hard working people” of China, in the first installment of a three-part interview with Automotive News’ “Daily Drive” podcast published Friday.

    Specifically, Musk criticized New York and California -- states that have supported his businesses, especially Tesla, with considerable tax breaks, regulatory credits and other government help.

    Automotive News publisher Jason Stein, who conducted the interview, asked Musk, “How about China as an EV strategy leader in the world?”

    Musk replied: “China rocks in my opinion. The energy in China is great. People there – there’s like a lot of smart, hard working people. And they’re really -- they’re not entitled, they’re not complacent, whereas I see in the United States increasingly much more complacency and entitlement especially in places like the Bay Area, and L.A. and New York.”

    Last year, Chinese government officials helped Tesla secure loans worth around $1.6 billion to construct and begin manufacturing vehicles at the company’s relatively new Shanghai factory. This year, the Shanghai government helped Tesla get back to normal operations quickly, at its new plant, after the region was struck by a Covid-19 outbreak and issued widespread quarantines that temporarily suspended manufacturing there.

    Musk pointed out, Telsa has not received as much assistance from the government in China as domestic companies. “They have been supportive. But it would be weird if they were more supportive to a non-Chinese company. They’re not,” he said.

    The enthusiasm the mercurial Musk expressed for China contrasted with his previously stated disdain for communism. In a tweet on Monday this week, Musk mocked social welfare programs in general, and Karl Marx’s “Das Kapital.”

    During the Automotive News podcast, Musk also compared the U.S., California and New York to sports teams about to lose their winning status.

    He said:

    “When you’ve been winning for too long you sort of take things for granted. The United States, and especially like California and New York, you’ve been winning for too long. When you’ve been winning too long you take things for granted. So, just like some pro sports team they win a championship you know a bunch of times in a row, they get complacent and they start losing.”


    Tesla and the states

    Among U.S. automakers, “Tesla has had the least government support of any car company,” Musk said.

    He boasted about Tesla’s repayment of a loan to the U.S. Department of Energy ahead of schedule.

    In June 2009, the Obama-era Department of Energy awarded Tesla a $465 million loan to set up a vehicle assembly plant in Fremont, California, and to begin production of its flagship all-electric sedan, the Model S. Tesla repaid it with interest by May 2013, nine years ahead of schedule.

    The DOE loan was small compared with the tens of billions in TARP loans that went to bail out General Motors and Chrysler during the financial crisis that began in 2008.

    However, Tesla has benefited from other forms of government assistance in the U.S. According to analysis by the Los Angeles Times, Tesla’s government assistance in the U.S. has surpassed $4.9 billion.

    Tesla’s government support in California has included more than $220 million in sales and use tax exclusions from the California Alternative Energy and Advanced Transportation Financing Authority, as well as zero emission vehicle and solar renewable energy credits granted by the state. The sale of these regulatory credits were a major factor in Tesla’s profitability in the past four quarters.

    As CNBC and others previously reported, New York state spent $959 million on a solar-panel factory in Buffalo, now operated by Tesla, in a drive to bring more than 1,000 high-paying tech and manufacturing jobs to the state.

    Tesla hasn’t fulfilled its employment obligations in New York so far. A financial filing out this week revealed that Tesla has obtained a full-year extension from the state in order to meet the head count requirement. If it does not, Musk’s electric car and renewable energy venture will have to pay back $41 million to the Empire State.


    Tesla stock and sales

    On the podcast, Musk also celebrated the fact that Tesla is now seen as a “legitimate” American and multinational automaker. While it used to be an upstart and underdog, Automotive News asked him what was going on with the soaring price of Tesla shares, which are up more than 240% this year, and whether Musk felt a need to manage investors’ expectations.

    The CEO demurred:

    “It’s not worth trying to massage the stock market or manage investor expectations. It’s just. You know? At the end of the day, if you make great cars and the company’s healthy and making great products investors will be happy...If you make lousy products your customers will be unhappy and then your investors will be unhappy.”

    Elon Musk, chairman and chief executive officer of Tesla Motors, speaks in front of a Tesla Model S electric car on day two of the 2010 North American International Auto Show in Detroit, Michigan.

    Elon Musk, chairman and chief executive officer of Tesla Motors, speaks in front of a Tesla Model S electric car on day two of the 2010 North American International Auto Show in Detroit, Michigan.
    Daniel Acker | Bloomberg | Getty Images

    He offered this advice to other entrepreneurs:

    “My advice, you know, to corporate America or companies worldwide is spend less time on marketing presentations and more time on your product. Honestly that should be the number one thing taught in business schools. Put down that spreadsheet and that PowerPoint presentation and go and make your product better.”

    He also predicted that online car sales, and delivering cars direct to consumers, rather than vehicle sales through stores or traditional dealerships, would become even more of a standard, after Covid-19.

    Tesla saw “strong orders through the whole pandemic,” Musk said. Tesla reported that its deliveries declined about 5% for the second quarter of 2020. Due to Covid-19 impacts, most other automakers saw sales plunge more than 30% during the same period. The CEO concluded, “Having a traditional dealer situation, I think, seems increasingly unnecessary and I think probably the pandemic just reinforced that.”

    Tesla shares closed down 3.8% on Friday, but have been on a spectacular run this year despite the global coronavirus pandemic and the onset of a recession.

  • I don't care. He does great stuff

    You can identify an unknown force by firing one shot and judging the response.

    - If the unknowns respond with precise, regimented rifle fire, they are British.

    - If they respond with heavy machinegun fire, they are German.

    - If nothing happens for a few minutes, then your whole position gets leveled by artillery, they are American.

    - If they surrender, they're French.

    :littlered

  • “My advice, you know, to corporate America or companies worldwide is spend less time on marketing presentations and more time on your product. Honestly that should be the number one thing taught in business schools. Put down that spreadsheet and that PowerPoint presentation and go and make your product better.”

    This is why

    You can identify an unknown force by firing one shot and judging the response.

    - If the unknowns respond with precise, regimented rifle fire, they are British.

    - If they respond with heavy machinegun fire, they are German.

    - If nothing happens for a few minutes, then your whole position gets leveled by artillery, they are American.

    - If they surrender, they're French.

    :littlered

  • He does. It's great. I don't care how many leftists he exploits.


    I don't care how many he kills.


    I won't buy any product from him.


    Now go jack off to the musk


    Faggot communist soon to be interned

  • He's not a communist... he's a manufacturer. Anyone I know who works to source manufacturing will point to China as an example of a country that is has the best manufacturing capability period... that's without slave labor factored in. The say the US has stopped advancing in many areas of forging and molding. Assembly is something we get crushed in by labor, but the others are something we used to excel in.


    What most manufactures learn about China, however, is that all of that skill also works to steal and reproduce your designs. In the semi-conductor equipment world, their audacity is legend. One manufacturer referred to an add with a Chinese factory that showed some 50 of their tools lined up. These tools sell for $3m-$5m each. Their company had not sold them a single one. These aren't tools that you can buy from anyone else... either. They even had the company's logo on them. What gets awesome is when they try to contact the actual vendor for support.


    China can build virtually anything faster right now. Ignoring that is suicide.

  • Why didn't he go to China to live the Chinese Dream instead of coming here to be a failure?

  • Gate operators such as Chamberlain/Liftmaster are ruefully aware of what the filthy chinks are perfectly happy to do with the product you gift them.


    I can buy a chink knockoff that is every bit as good as the branded product for a third of the price.


    Tech support is now being somewhat denied as Chamberlain isn't even sure you've purchased their product or not.


    Second tier distributors carry the knockoffs and sometimes even branded as a Chamberlain product.


    Fuck the greedy bastards for moving manufacturing to the filthy chinks.


    Its ok though over the years I've learned to become a very good diagnostician and can just about determine the cause of a failure with a few questions. Subsequently we don't rely on tech support for much if anything.


    The real kill is in the controller boards. Liftmaster wants $300+ for a board. The chink board which is plug and play to any legit Chamberlain operator with the added benefit of not requiring UL325 compliance or peripherals is under $200


    Furthermore that board can be easily adapted to control any operator on the market if the tech is savvy.


    They're slaying America in that field. Who's to say its not across the board?

  • I listed the things I'm familiar with and totally agree with the sentiment that they could be doing this across the board. I'd add that I don't know anyone who has sold to or had anything manufactured in China that wasn't copied. That's still a relatively limited perspective, but it is VERY consistent.

  • I listed the things I'm familiar with and totally agree with the sentiment that they could be doing this across the board. I'd add that I don't know anyone who has sold to or had anything manufactured in China that wasn't copied. That's still a relatively limited perspective, but it is VERY consistent.

    The Chinese do it to all industrial sectors. The toy company my wife works for used to have their drones manufactured in China. The manufacturer started to boot leg the drones and sell the boot leg drones themselves on Alibaba. Her company didn't know until they got tech support calls about the lithium batteries catching fire. Her company then decided to discontinue their drone products because of being boot legged. They also had some robotic toys that got boot legged and also sold on Alibaba. Her company then moved manufacturing out of China to Vietnam and ended the problem.


    Apple has the same problem in China with their Chinese manufacturer Foxcon.

    “Patriotism means to stand by the country. It does not mean to stand by the president or any other public official.”

  • patents are a necessary evil... somewhat like taxes. Tax to much and it is evil.... protect too long and it is evil. scroat I have no idea why you live in a world of slogans. Slogans are not reality regardless of what they rioters tell you.


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)