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#teslatakedown

143 posts93 participants6 posts today
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⚯ Michel de Cryptadamus ⚯

#Tesla's shady accounting is, like death and taxes, a universal constant.

Elon Musk's car company chose to include $600 million in bitcoin profits in their GAAP numbers last quarter. For the most recent quarter, however, after bitcoin prices went down and Tesla lost most of $100 million, #TSLA has chosen to exclude the loss from their GAAP earnings per share.

While there might not even be anything illegal about this (the loss is acknowledged in a different place) it is accounting sophistry of the highest order designed to juice a few selected numbers.

The claim appears to be largely accurate based on available information, but let’s break it down to assess its validity and provide context. Background on Tesla’s Bitcoin Accounting ¢ Q42024: Tesla reported a $600 million gain from its Bitcoin holdings, reflecting a new Financial Accounting Standards Board (FASB) rule (ASU 2023-08) that allows companies to mark crypto assets to market (fair value) each quarter. This gain was included in Tesla’s GAAP income, boosting it by $600 million, as the fair value of its 9,720 Bitcoin was reported at $1.076 billion (up from $184 million in prior quarters). The sources don’t explicitly state whether this $600 million gain was also included in non-GAAP income, but non-GAAP measures typically adjust for non-recurring or volatile items, and it’s plausible Tesla included it, as claimed, given the positive impact. @ ¢ Q12025: Tesla reported a $97 million mark-to-market loss on its Bitcoin holdings due to a decline in Bitcoin’s value. This loss impacted GAAP earnings, contributing to a GAAP EPS of $0.12. However, Tesla excluded this loss from its non-GAAP EPS, which was reported at $0.27, creating a gap between GAAP and non-GAAP figures. This exclusion aligns with the claim that Tesla “redefined non-GAAP income to exclude” the Bitcoin loss.
#uspol#eupol#teslatakedown
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Jennifer

This article made me happy 😂 Gift article.

The competition has the advantage of not being inextricably tied to a boss who’s made the brand so toxic that people would rather go to his dealerships to wave angry signs than to buy cars. If Tesla’s future rests on left-leaning EV fans forgiving Musk for backing Trump, boosting the AfD party in Germany, and gleefully putting hundreds of thousands of federal employees out of work, then Musk may find himself longing for the days when his biggest problem was building a wild-looking stainless-steel truck.
#Tesla #TeslaTakedown

theatlantic.com/technology/arc

The Atlantic · Tesla’s Remarkably Bad Quarter Is Even Worse Than It LooksBy Patrick George
Continued thread
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key jordan-abrams

and as always, @inoru_no_hoshi and I could use some support. the bills are always due and unfortunately getting sober doesn't automatically get you a job or pay the rent (which we couldn't afford right now at all).

for #MutualAid #MutualAidRequest #HelpFolksLive #HelpFolksLive2025 #MastodonForHarris #Mastodon4Harris #Tesla #TeslaTakedown, ever little bit we receive helps, from the smallest of donations to shares to large donations and anything in between. we really, really need to break out of the bubble we're in and reach some new audiences who might be able to support us, because our close friends do a lot and it's unfair for them for us to end up relying on them so much (although we're very grateful).

payment methods below, with display names since it's different than here.

CashApp: ⁨cash.app/$ceahettan⁩ (a bunch of muppets)
Venmo: ⁨venmo.com/californiummm⁩ (dror lieb)

ask for PayPal/Zelle.

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