Tesla Executives Linked To Investment In a Startup That Focuses On 'Materials Recycling' (cnbc.com) 20
According to CNBC, "Two Tesla executives have been named as directors of a company called Redwood Materials, which appears to focus on technology to recycle and reuse manufacturing materials." From the report: Jeffrey Straubel, chief technical officer, and Andrew Stevenson, head of special projects at the auto firm, were on a U.S. Securities and Exchange Commission (SEC) filing highlighting a $2 million fundraiser for the Redwood Materials. The document was first uncovered by data platform CB Insights on Monday. Straubel and Stevenson are named as executive officers and directors of this company. Stevenson is also down as chief financial officer. Redwood Materials describes itself as making "advanced technology and process development for materials recycling, remanufacturing, and reuse," on its website. The SEC filing shows that the company was set up in 2017 and is based in Redwood City, California. It has raised $2 million from just one investor but the name of the backer is not disclosed. The extent of Tesla's involvement with Redwood Materials is unclear, but if it were a partner, customer or even investor, it would certainly make sense. The company, which is run by billionaire Elon Musk, has been focused on ways to make its supply chain more efficient in order to scale and meet demand. Using a company like Redwood Materials would allow Tesla to own more of the supply chain, potentially helping to boost production, and in a more sustainable way, given that it would be recycling materials to be manufactured into different parts.
Nothing to see here, move along (Score:4)
We take scrap from rockets and turn that into ... (Score:3)
Billionaires/Millionaires invests in start-up that could improve their profit margins by a non-trivial amount. Who cares? Show me the article when the technology is working and proven beneficial or otherwise.
I can show you an example of where this sort of thing is actually being used today.
"We take scrap from rockets and turn that into premium carbon fiber skateboards"
http://www.121cboards.com/ [121cboards.com]
Each skateboard removes five pounds of carbon fiber from landfill.
https://www.kickstarter.com/pr... [kickstarter.com]
Re: We take scrap from rockets and turn that into (Score:2)
Re: (Score:2)
I think you are getting your conspiracy villains mixed up; this company is linked to Tesla not Alphabet. DIfferent branches of the Illuminati.
Re: (Score:2)
> The intent is to avoid being tapped by aggressive regulators like the state of California forcing
> Alphabet to provide for recycling and waste disposal of their detritus. This startup offloads
> the costs into a money-losing bucksink that will lobby to keep the costs off Alphabet.
> With luck, they will get some government slush money to pay them for the effort too.
Tesla is not part of Alphabet. And you're too paranoid. This move makes perfect financial sense. The term is "vertical integration".
"Linked to" (Score:2)
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TFA is no better. "Named", "uncovered", "described itself"...
"Today, Fred Flintstone was named in a conspiracy initially uncovered by Bedrock News. In an interview, Mr Flinstone described himself as 'a hard working guy'"
The whole thing is shaded to make you think something untoward is occurring here.
Min
Those bastards! (Score:5, Insightful)
What's the story here exactly? They want to recycle and reuse more stuff which is a good thing for everybody. Why is this being presented like some sort of expose of dirty secrets?
If this were presented properly then the title would be something like, "Tesla executives investing in decreasing Tesla manufacturing costs" which is a big, "well duh!"
Re: (Score:1)
Probably because TSLA is a public company yet their executive are off starting companies that could and should be included with TSLA. These companies will likely be bought by TSLA in the future and thus transferring money to the executives for work they should have been doing as part of their employment at TSLA.
SEE: SOLARCITY transaction for an example of how Elon uses the "amazing TSLA story" and idiot TSLA investor money to bail out bad business ideas and enrich himself and his family in the process.
Than
Re: Those bastards! (Score:2)
Tesla is a privately owned company, not a publicly owned company.
You can invest,or not, depending on your assessment of the business.
It's not like the Trump family who uses the government to promote their businesses.
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Clever! The manner in which you crafted your post has already caused TSLA's stock to go down! 311.02USDPrice decrease7.87 (2.47%)
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Elon Musk buys a taco from a street vendor - street vendors are the future of the Calorie!