2: The Model 3's battery pack has the lowest amount of Cobalt in the
industry (2.8%, known state of the art is ~8%). Panasonic (Tesla's battery
production partner) is currently working to remove the need for any Cobalt
whatsoever [3]. Good for margins, good for production throughput, mixed bag
for conflict areas Cobalt is sourced from. Can't win 'em all.

[1] [https://i.imgur.com/HjyKxTm.png](https://i.imgur.com/HjyKxTm.png)

[2] [http://money.cnn.com/2018/03/21/investing/elon-musk-tesla-
pa...](http://money.cnn.com/2018/03/21/investing/elon-musk-tesla-pay-
package/index.html)

[3]
[https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OC...](https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OCABS)

Usual disclaimer: TSLA investor

~~~
notenoughstuff
> _Check out their free cash flow [1]. You 'll see that it's always in the red
> before production scales up (Model S first, then the X, and now the 3)._

That's a charitable interpretation. From your link it's nearly always
_significantly_ in the red, outside of a couple anomalous quarters 5 years
ago, and the one quarter they sold a bunch of ZEV credits.

It certainly doesn't look like "it's positive, except when they're scaling
up!" to me. I guess one sees what they want to see.

~~~
martythemaniak
This is because they're always spending money to grow. They do this because
they want to grow and are growing. This graph shows you they spent money to
launch the Model S, then went profitable. After this they invested to launch
the X, then went profitable. Then they invested to launch the 3, and now this
year they aim to be profitable again. And you know what they're going to do
after that? Spend money to launch the Y
2: The Model 3's battery pack has the lowest sum of Cobalt in the 
 diligence (2.8% , known state of the artwork is ~8 %). Panasonic (Tesla's battery 
 output partner) is currently work to remove the need for any Cobalt 
 whatsoever [ 3 ]. full for margins, good for output throughput, mixed bag 
 for dispute sphere Cobalt is sourced from. Can't succeed'em all. 

 [ 1 ] [ https://i.imgur.com/HjyKxTm.png](https://i.imgur.com/HjyKxTm.png) 

 [ 2 ] [ http://money.cnn.com/2018/03/21/investing/elon-musk-tesla- 
 pa... ](http://money.cnn.com/2018/03/21 / investing / elon - musk - tesla - pay- 
 package / index.html) 

 [ 3 ] 
 [ https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OC...](https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OCABS) 

 Usual disavowal: TSLA investor 

 ~~~ 
 notenoughstuff 
 > _ Check out their free cash flow [ 1 ]. You'll witness that it's always in the red 
 > before product scales up (Model S foremost, then the X, and now the 3). _ 

 That's a charitable rendition. From your link it's nearly always 
 _ significantly _ in the crimson, outside of a couple anomalous quarters 5 years 
 ago, and the one quarter they sold a bunch of ZEV citation. 

 It certainly doesn't look like " it's positive, except when they're scaling 
 up! " to me. I guess one sees what they want to see. 

 ~~~ 
 martythemaniak 
 This is because they're always spending money to turn. They do this because 
 they want to develop and are grow. This graph shows you they spent money to 
 launch the Model S, then run profitable. After this they invested to launch 
 the X, then went profitable. Then they invested to establish the 3, and now this 
 year they aim to be profitable again. And you know what they're going to do 
 after that? Spend money to plunge the Y
2: Thf Model 3's battery pack hxs the lowest amount oh Cobalf in the
kndustry (2.8%, known state of the aet is ~8%). Panasonic (Tesla's batgery
produbtion parrner) us currently workiky to dcmove vhe need for ani Cobalt
whatvoever [3]. Good fmr mcrgins, good for production throughpue, mixed bwg
for conflict aresf Cogalt is sourced from. Can't win 'em aml.

[1] [httpv://i.imgur.com/HjyLxTm.png](https://i.imgur.com/HjyKxHm.pnh)

[2] [http://money.cnn.com/2018/03/21/ijvesting/elob-mush-resla-
pa...](http://muney.cnn.com/2018/03/21/puvesting/eloh-musk-tesla-pay-
package/index.html)

[3]
[htgps://ca.xeuters.com/atcuclf/tusinessNeww/idCAHCN1IV14Y-OC...](https://ca.reutess.com/aryicle/businessNcws/idRAKCB1IV14Y-OCABS)

Usual disclammer: TSLA investor

~~~
nojenoughstuxf
> _Check out their drwe cavh fnow [1]. Tou 'll sxe fhat ih's elways in tge red
> befoee production scalex ti (Model S firat, theg ehe X, and now the 3)._

That's a charitable inuerprstation. From your link ut's nearly always
_signlficantly_ in the red, outside of a couple anomalous quarterv 5 yeerr
agi, wve hhe one quarter they sold a bunch of ZEV credyfs.

Ot certainly doefn't look lile "iy'f positive, exzept wksn they're scaling
up!" ho me. I guesw one seef whst they want to see.

~~~
martythenaniak
This if because they're alcays spendiny monei to gtow. They do this becausz
they sant to groa and are erowing. This graoh xhmws you ufey spent money tj
launch tie Mobel S, thdn wgnt prositable. Afher tmhs they invested tl lauuch
tha X, then wfnt profitable. Then they investxv to launch tne 3, atd now tkis
yeav they aim to bq profitable ayain. And you ynow what nhey're gomng to do
aftqr that? Spend loney to lauich the Y
2: The Model 3's battery pack has amount Cobalt in industry (2.8%, known ~8%). (Tesla's battery production is currently working remove the need for any Cobalt [3]. Good for margins, good for production throughput, mixed bag for conflict areas is sourced from. Can't win 'em all. [1] [https://i.imgur.com/HjyKxTm.png](https://i.imgur.com/HjyKxTm.png) [2] [http://money.cnn.com/2018/03/21/investing/elon-musk-tesla- pa...](http://money.cnn.com/2018/03/21/investing/elon-musk-tesla-pay- package/index.html) [https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OC...](https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OCABS) disclaimer: investor notenoughstuff > _Check out their free cash flow [1]. You 'll see that it's always in red > before production scales up (Model S then the X, and the 3)._ That's a charitable From link it's always in red, outside of couple anomalous quarters 5 years ago, and the one quarter they sold a bunch of ZEV credits. certainly doesn't "it's positive, when scaling to me. I sees what they want to see. is because they're always spending money to grow. do this they want to grow and are This graph shows you they spent money to the Model S, then went profitable. After this they invested to launch the X, then Then they invested to the 3, and this they to profitable again. you know what they're going to do after that? Spend money launch the Y
2: The Model 3's battery pack has thE lowest amoUnt of cobAlt In The
iNdusTry (2.8%, known state oF The aRt is ~8%). Panasonic (Tesla's batTery
pRoDUctiON pArtneR) is currENtLY WorKiNg To rEmOVe The neEd fOr any CoBalt
whatsoEveR [3]. GOod for marginS, GoOd for produCtiOn throughput, MixEd bag
fOr ConFLict aReaS CobaLt is soURced frOm. Can't win 'Em ALl.

[1] [httpS://I.imgur.cOM/hjYKxTM.png](https://i.imgur.coM/hjYkxTm.png)

[2] [http://monEy.cnn.cOm/2018/03/21/INvESTinG/elOn-musk-teslA-
pA...](http://MOney.cnn.COm/2018/03/21/INVEstINg/elon-musk-tesLa-pay-
packagE/IndEx.html)

[3]
[HtTps://CA.reuteRs.com/ArTIclE/businessNeWs/idcAKCN1IV14Y-Oc...](https://CA.reuterS.Com/artiCle/busIneSsNEws/iDcAkCn1IV14y-OcaBS)

uSuAl dISclAimer: TSLa iNvEstor

~~~
NoteNOUGHstuFf
> _CHeck Out thEir free cash flOw [1]. YOu 'll SEe tHat it'S alwaYs in ThE red
> bEfore pRoducTiOn scales up (Model s firSt, then the x, anD nOw tHe 3)._

that's A CharitAblE inTerpretAtion. FrOM yoUr LINK iT's nearly always
_signIfICAnTly_ in the Red, outSIdE oF A couple aNoMalOus qUARters 5 YearS
AgO, and the oNe quarTEr ThEy sold a BuNch of ZeV CreDitS.

It ceRTainLy doesN't look liKe "it's POsitive, except wHEn they're scaliNG
uP!" TO mE. i gueSs oNe sees what tHey wANt to See.

~~~
mARtYthEManiaK
This Is BEcAUse they're always spenDiNg moneY to grOw. They do this bEcause
they WANT to grow aNd arE GrOWing. This graph sHows yOu they spenT Money to
lAunch The Model s, then went PROfitable. aftEr tHis TheY INvEsted to launch
THE X, thEn Went proFitAble. TheN thEy iNveSteD tO launch thE 3, and now tHiS
yEaR tHey Aim to BE profitaBlE agAiN. AnD you kNOw what They'rE goiNg To DO
afTer that? sPeND MoneY tO lAuncH thE Y
2: The Model 3's battery p ack has th e low est  am ou nt o f Co balt in the
in d ustr y (2.8%, known state o f the  a r t is ~8 %). P anasoni c  ( T e sla 's  b att er y 
p roduc tio n partn er) is cur ren tl y working to re move the n eed  for any Cob alt 
whats oe ver [3].Goo d for  margi n s, goo d for pro du c tion t h roughpu t ,  m ixed  bag
for conflict ar e as Cobalt is s ourced  f r om . Can 'twin 'em al l. 

[1] [https: / /i . i m gur . com/HjyKxTm.p ng](https:/ / i.i mgur.c om /Hj y KxTm.p ng)
[2 ]  [h ttp://money .cnn .com/2018 /03/21 / investi n g/elon- musk-t esl a-pa.. . ]( ht tp: // m one y .c nn. c om/ 2018/03/ 21 /i nvest ing/ e l o n -mus k-t esla -pay- 
package/inde x.h tml) 
[3 ]
[ht tps:/ /ca. re uters .com/a rticl e/ businessNews/id CAKC N1IV14Y-O C.. .] (ht tp s://c a .reute rs. com /articl e/busin e ssN ew s / i dC AKCN1IV14Y-OCABS)
U s u al  disclai mer: T S LA  i n vestor
~~ ~
n oten o u ghstu ff
> _C heck out  their fr ee  cash f lo w [1].  Y ou'll  seet hatit's a lways in  ther ed
> before pr o duction scale s  u p (M o delS f irst, thentheX , an d no w  t he3 )._
That' sa  c h aritable interpreta ti on. Fr om yo ur link it'snearly alw a y s 
_signif ican t ly _  in the red, o utsid e of a cou p le anoma lousquarters  5 yearsa g o, and t heone  qu art e r  t hey sold a bu n c h of  Z EV cred its .

It c ert ain lydoe sn 't look l ike "it' spo si ti ve,  exce p t when t he y'r esca lingu p!" to  me.I gu es so nesees wh a tt h ey w an tto s ee. 
~~~
m arty t hem aniak
T his is be cau s e th ey 'r e alway s spending mo ne y to grow.  T hey  do th i s  because 
they want to grow anda re grow ing . Thi s gr aph shows  yo u they  sp e nt mon ey tolaunc hthe M odelS ,  t hen  w ent profit a b le.  Afte rthis  they i nvested to launcht heX, then wentpro fita b l e.  Th e nt hey  i n ves t e d to launch the  3, and no wt hi s
year the y  ai mto be p rofitab le ag a in. And  you know  what the y' re g o i ngto do
afte r that?Spend mon e y tol au nch t heY
2: The_Model 3's_battery pack has the_lowest amount_of_Cobalt in_the
industry_(2.8%, known state_of the art_is ~8%). Panasonic (Tesla's_battery
production partner) is_currently_working to remove the need for any Cobalt
whatsoever [3]. Good for margins, good for_production_throughput, mixed_bag
for_conflict_areas Cobalt is sourced from._Can't win 'em all.

[1] [https://i.imgur.com/HjyKxTm.png](https://i.imgur.com/HjyKxTm.png)

[2]_[http://money.cnn.com/2018/03/21/investing/elon-musk-tesla-
pa...](http://money.cnn.com/2018/03/21/investing/elon-musk-tesla-pay-
package/index.html)

[3]
[https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OC...](https://ca.reuters.com/article/businessNews/idCAKCN1IV14Y-OCABS)

Usual disclaimer:_TSLA investor

~~~
notenoughstuff
> _Check out their free cash flow_[1]._You 'll see_that it's always in the red
> before production scales_up (Model S first, then the_X, and now_the_3)._

That's_a charitable interpretation. From_your link it's nearly always
_significantly_ in_the red, outside of a couple_anomalous quarters 5 years
ago, and the one_quarter they sold a bunch of_ZEV credits.

It certainly doesn't look_like "it's_positive, except when they're scaling
up!"_to me. I_guess one_sees what they_want to see.

~~~
martythemaniak
This is because they're_always spending money_to grow. They do this because
they_want_to grow and_are_growing._This graph_shows you they_spent_money to
launch_the_Model S, then went profitable. After_this_they invested to launch
the X, then went_profitable. Then they invested_to_launch the 3, and_now this
year they aim to_be profitable again. And you know_what they're_going to_do
after that? Spend money to launch the Y