The Struggles of a Crony: Elon Musk is dealing with the “most painful year of (his) career”

Musk with Obama discussing another crony venture, SpaceX

 

It’s been painful to watch too.

Bumpers falling off of new cars 1/2 hour after leaving the showroom. Building cars in tents. His senior staff disappearing for greener pastures. Alleged saboteurs on the production line. It’s almost enough to elicit some pity for the guy.

However, he has long been allowed to play with taxpayer money via California and the Federal government. He’s had his chance, not that taxpayers had a choice, and now other manufacturers are passing him by at lower cost. BMW being the best example of this.

Musk’s business model was/is based on political connections to a very large degree, cronyism. That business model generally is not sustainable.

Elon Musk is perhaps the most likable of the high profile cronies, but he’s still a crony.

(From WRAL)

The year has only gotten more intense for Musk, chairman and chief executive of the electric-car maker Tesla, since he abruptly declared on Twitter last week that he hoped to convert the publicly traded company into a private one. The episode kicked off a furor in the markets and within Tesla itself, and he acknowledged Thursday that he was fraying.

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