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Elon Musk's Tesla Plans To Acquire Elon Musk's SolarCity For $2.7B In Stock (techcrunch.com)
An anonymous reader writes from a report via TechCrunch: Today, Elon Musk's electric car and battery company Tesla has announced its offer to buy solar panel installation company SolarCity. Now is a better time than ever to acquire SolarCity, as it recently had its value downgraded. If Tesla does acquire SolarCity, the companies could allow you to outfit your home with solar panels that power a giant battery for your various appliances, such as an electric vehicle. The deal, which has yet to be approved by SolarCity and its board, involves SolarCity's stock being exchanged for Tesla stock. TechCrunch reports that "the deal would pay a premium of 21% to 30% on top of SolarCity's value of $2.14 billion, so Tesla would be buying SolarCity for between $2.59 billion and $2.78 billion worth of its stock." The Tesla team writes, "It's now time to complete the picture. Tesla customers can drive clean cars and they can use our battery packs to help consume energy more efficiently, but they still need access to the most sustainable energy source that's available: the sun." Elon Musk has also been in the news today through OpenAI, the artificial-intelligence non-profit backed by Elon Musk, Amazon Web Services and others. OpenAI announced it is working on creating a physical robot that performs household chores.
Namedrop much?
Elon Musk: So do we have a deal?
[Elon gets up from his seat at one end of a massive conference table where he is flanked by lawyers, and walks around to the other end, where he sits down, flanked by other lawyers.]
Elon Musk: We have an agreement.
[Elon Musk gets up, crosses to the middle of the room, and shakes his own hand to the cheers of his fellows.]
Musk Industries.
One of our competitors trademarked the term "hypothesis". From now on, we will call them "boneheaded ideas".
It's common for a successful company to buy out investors in an unsuccessful company as a way to move value out of the sham higher value company directly into the lower value company, because, of course, they'd rhe same investors. It's a way to get a pay off early without selling off your tesla stock. Same thing happened with the YouTube buyout by Google. The VC firm that funded both companies wanted a payoff even though at the time the deal made no sense.
When something is sold between separate companies controlled by one person, it might be for sound reasons of strategy or synergy.
ROFL.
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
....it would basically be so expensive that nobody buy wealthy people could afford the battery/panel/installation combination in the first place.
The problem with Elon's visions is they only ever benefit rich people, and as such have no chance of ever changing the world since the vast majority of people can't benefit from it.
What happens to all the common folk who own stock in Solar City?
Would it be too much to ask for a Musk-free day in the news? Enough with Musk this, Musk that, Musk poops golden eggs propaganda, he's an attention whore, I get it, but enabling him to this degree is simply ridiculous.
Made manifest. Progress.
You are being ripped off every second of every day, so that advertisers can help rip you off even more tomorrow.
...worth from his investment in BeauHD for Slashdot's front page today...
Lawrence Person (lawrencepersonh@gmailh.com (remove all "h"s to mail)
http://www.lawrenceperson.com/
In the far-right and the wrong direction.
I wanna see solar power sustain through the dust clouds of a super volcano or a large meteor strike. You can't maintain underground greenhouses without nuclear power.
Elon Musk moves money from bank account A to bank account B, stay tuned for live updates after the break
Benghazi is so last week, keep up with wikileaks will you.
Value is. Investors of Tesla are diluted and investors of solar city will make money. Musk well most likely end up owning more of the combined company than he did before the deal.
I still have more fans than freaks. WTF is wrong with you people?
Nuclear isn't sustainable, solar is for the duration of life on Earth. Just like oil we have a finite amount of nuclear fuel, we should save it in case we end up with no other way to go to other solar systems than to putt along on generational ships.
Nuclear isn't sustainable, solar is for the duration of life on Earth. Just like oil we have a finite amount of nuclear fuel, we should save it in case we end up with no other way to go to other solar systems than to putt along on generational ships.
that's stupid. Nuclear is sustainable for centuries, far longer than anyone would care to analyze.
Solar does not meet the power demand cycle and without any reasonable scale energy storage is untenable, takes up too much space for the power it generates, is expensive to maintain (the frames need constant corrosion resistance maintenance), and thus ultimately underserves it's promise.
Doesn't that scream "inefficient"?
PS
Oh, Li-Ion charge efficiency is close to 100%, never mind... ^^
http://liionbms.com/pdf/Elithi...
Does anyone have a good solar city experience? Everything that I have read about them seems to be negative. From over promising and underdelivering, to Customer service nightmares. Just curious because I'm interested in solar and these guys have presences in the homer stores around herem
a Tesla shareholder.
Successful countries are not run by the riff-raff.
I will wait until he buys some military equipment company
hehehe :)) so solar is expensive because frames need corrosion resistance but nuclear isn't ? (because nuclear does not have any maintanance cost ?) :DDD