The economist Murray Rothbard, a deeply committed (to put it lightly) freemarketeer used to talk about certain groups he opposed, that were wrong headed, clueless economically, socialist statists and so on but that had certain appeal, as “lovable.” Elon Musk is that kind of crony capitalist. He is not off putting. He’s no George Soros, or Jamie Dimon, or even Warren Buffett, he is a “lovable” crony capitalist, and that has been the key to his success (as a crony capitalist).
But his companies are fundamentally built on crony soil which can turn to sand quickly. He has been able to play with taxpayer money for a long time and if Tesla fails no tears should be shed.
Tesla isn’t “failing” yet but it has hit some very serious wobbles.
Tesla Motors has halted production of its troubled Model 3 electric car as the company looks for a way to use fewer machines — and more humans — in their assembly.
The temporary shutdown of the assembly line at the company’s massive plant in Fremont, Calif., comes just a few days after founder and CEO Elon Musk suggested that his attempts to create the world’s most technologically advanced car plant had been ill thought out…
…Musk’s attempts to remake the factory on the fly are not sitting well with his employees, however.
According to one report, workers have been told to take vacation during this four- to five-day shutdown, or treat it as unpaid leave.
Yikes. So the robots aren’t working as well as they have to and the humans, 10,000 or so, are getting forced furloughs? Not a good situation. But perhaps Musk’s charm can get him through another storm. We’ll see.
And don’t forget, there are billions of taxpayer dollars that have been sunk into this venture.