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Musk reflects on tough year that 2008 was for Tesla in a reply to engineer

Musk reflects on tough year that 2008 was for Tesla in a reply to engineer

Tesla CEO Elon Musk responded to an Indian engineer on Saturday who remembered how the company neared bankruptcy on Christmas eve during the 2008 financial crisis. “On Christmas eve 2008, Tesla funding round completed, Tesla was literally a few days from bankruptcy,@elonmuskhad to put in all his money & assets,” the engineer identified as Pranay Pathole wrote on Twitter. He also mentioned that Elon Musk had to borrow money from friends to pay the rent. Responding to the tweet, Musk said it was the “crazy tough year”. He also recalled that Teslas financing closed at 6pm on Christmas eve in 2008, the last hour of the last day possible, he added. “Payroll would otherwise have bounced two days after Christmas,” he further replied. Pranay Pathole also thanked Elon Musk for never giving up. Also read | Elon Musk doppelganger? Viral video stuns netizens, but some say its deepfake. Watch here That was a crazy tough year. Tesla financing closed at 6pm Christmas Eve – last hour of the last day possible. Payroll would otherwise have bounced two days after Christmas. Notably, Tesla was hard-hit during the financial crisis of 2008, according to reports. The company had to struggle like any other automobile company and was in dire need of cash to survive the recession years. This was not the first time Elon Musk was replying to a tweet by the engineer. Earlier, Musk had earlier replied to the engineers tweet about him undergoing an internship to learn about the work. Musk had responded with some interesting facts about his internship days. “When @elonmusk was 18 he did an internship at Nova Scotia bank. It was over there where he realized that money is low bandwidth and you dont need huge infrastructure resources to online transfer money from one bank to another. This knowledge set him up on course to start X .com,” the tweet by Pathole said. To this Musk replied with some interesting inputs. “I worked for Peter Nicholson, who is awesome. Mostly, we exchanged math riddles, although I did figure out a multi-billion dollar arbitrage opportunity for the bank,” Musk wrote. He also spoke about another reason why he decided to leave the organisation and start anew. The tweet became quite popular with netizens..

world-news 2022-01-03 hindustantimes