Jail All The Fraudsters
The Market Ticker - Commentary on The Capital Markets
Logging in or registering will improve your experience here
Main Navigation
Full-Text Search & Archives

Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.


The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be sent unmodified to lawmakers via print or electronic means or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media, to republish full articles, or for any commercial use (which includes any site where advertising is displayed.)

Submissions or tips on matters of economic or political interest may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.

Considering sending spam? Read this first.

2020-01-14 07:00 by Karl Denninger
in Technology , 188 references Ignore this thread
Jail All The Fraudsters
[Comments enabled]

Remember that we were told that you'd have fully autonomous driving by 2020?

Tesla was going to be first, but not the only offering for long.

Well, it's 2020.

Where is it?

It turns out that, well, Musk lied.  Like every good carnival barker he also ran the pricing scam to a "T"; buy it now or you will pay more later, a ludicrous statement for software that has never, ever been true in the history of computerized anything.

Now could he get away with that if there was no competition?  Sure.  But there will be competition.

As Tesla's stock flies over $500 a share exactly nobody is holding anyone accountable for that bull****.  Just like nobody is holding Trump accountable for his claim that by the end of his first term the deficit would be zero; it has instead skyrocketed.

Calling something "full self-driving" ought to be good for an instant cement shoe sentence if in fact you cannot punch in a destination, get in the back seat with a bottle of Rum and arrive smashed out of your mind -- without breaking any laws.  Since the car by definition doesn't require you, it also doesn't require you be sober.  Oh, by the way, it also has no liability premium on your insurance either, because you can never be personally (and thus legally) responsible for a crash.

Marketing pablum is nothing new; it dates to well, the beginning of marketing.

But specific claims for which you charge money are a different matter.  You've collected money under a false pretense.

We all know what that word is.....

PS: I'll bet I won't be able to buy an actual full self-driving car within the next 10 years.  But since Tesla said "by 2020" placing a bet on it is a loser for anyone who does it, since the bet has already been lost.

View with responses (opens new window)