They cut a ton of cost, they made that profit the old-fashioned way by getting lean and firing everyone.
I agree with @kimcicleā¦lets see that 10-Q to see what happened.
Thereās some question marks on the street. The Q-A session was hand-picked questions. Musk has a reputation of cherry picking what he wants you to hear. Iām not convinced without seeing the whole picture.
Even if you think they went super lean and fired enough people, the other numbers just donāt add up at all.
- Q3 2019 revenues went down by 8% versus Q3 2018.
- Net income on a GAAP basis was down 54% YoY.
- Free cash flow was down by 58% YoY.
Yeah I read the brief and Iām watching the wall st reaction and I donāt get it. Something is amiss here. Pondering some lotto puts for next weekā¦the problem is that this stock is unbelievably volatile and subject to huge swings based on PR/BS.
TSLA is a bigger gamble with volatility than going to MGM Detroit and tossing a hundo into a Double Diamond Deluxe.
Iāve done both. MGM was way more fun!
One of these days Iāll take a road trip across OH and check it out. Last time I was up there I crossed the bridge to go to the temporary casino in Windsor before Caesars was built, and way before Detroit got casinos. The incentive isnāt there anymore with casinos around every corner, and Atlantic City the same distance away the opposite direction with more variety.
Everybody jumped to conclusions after reading āSurprise profit in Q3.ā
Not saying this will make the numbers make sense 100% but some of the profits were also from realizing all the FSD money they collected. Without any ārealā FSD features shipped before Smart summon, they couldnāt never put the FSD monies collected on their revenue sheets. Now that smart summon is out in the wild, they can and they did.
Yes sir, it a costly gamble alright:
The funny part is I donāt think Iāve seen an article saying short sellers made 1,5bn when it was sliding from 400 down sub 200.
Agree with @mp11477 and @kimcicle that we need to see the 10-Q: quite a bit that doesnāt fit the narrative. Iām sure someone will remind me that I expected then to be insolvent by Labor Day (after they were within a week of BK in the past year), but Iāve also said I just spot bubbles, I canāt say when theyāll pop. One of many reasons I donāt make short bets (I also think itās ungentlemanly, the only āpositiveā outcome is you make money when the shareholders lose.)
Quite a few of the most vocal shorts went all-in and got crushed this week.
Could be worse: you could have sold your house for $1.8M, gone all-in on crypto, and had AT&T āCustomer Serviceā twiddle their thumbs while SIM scammers emptied you out:
https://twitter.com/wyatt_privilege/status/1187426849351225344?s=21
O. M. G.
Thatās unbelievable
That AT&T is that bad? Puhleeze.
That poor plaintiff was deprived of losing his $1.8M in crypto the old fashioned way?
Either by wild swings in valuation OR by losing the $9 USB key the private key was on.
At&t is indeed this bad, but this story is unbelievable. Smells.
SIM-swap hacks like this have been rampant for years. App-based or ubi-key 2FA for any financial application.
I donāt blame you for being skeptical, but when you are good at social engineering (or have a stack of cash to bribe the guy at the cell phone store) you can make off with $2.4 million in bitcoin.
Nine people were charged with crimes related to stealing more than $2.4 million in cryptocurrency by hijacking victimsā mobile phone numbers. Stealing mobile phone numbers, also known as SIM hijacking, typically involves hackers posing as their victim in order to transfer a phone number from one device to another. Once an attacker is granted access to the phone number, they can bypass two-factor authentication that relies on one-time codes delivered via SMS messages.
- Donāt use the same password (or pattern) for more than one site/service. Use a password manager. I donāt know my password for 99% of my accounts anywhere, theyāre all randomly generated. Change them twice a year whether you need to or not.
- Register with āAm I p0wnedā to get notified when a site with your email/password gets hacked (and which provides and dumb enough to store your password in plain-text or a simple 2-way hash). SIM swaps require access to your email (which they could have for months) and social engineering. Often theyāll wait until a site gets hacked and start checking those accounts against email services to see what works. Theyāre playing a LONG game.
- Use App based 2FA or a hardware key everywhere you can. There are other 2FA attack vectors but SMS is better than nothing, non-SMS is better than SMS, hardware keys are the best choice.
- Lock your cell phone account with an extra-extra password (usually you have a login to the app/website, a pin to transact, and a separate password to port your number). Usually has to be done in person with photo id.
Half the cell phone stores are dealers and not corporate stores: they donāt work for your carrier and have access to 99% of the same tools/information. Itās audited but if Bozo got paid $1000 to SIM swap you and his payor took $1.8M in bitcoin itās gone-gone. Put the thief in jail but you canāt recover it even though asset forfeiture. 
Itās still more likely you lose the private key or move it to a USB drive that goes bad. Iām waiting for the eventual Winklevoss murder/suicide for that very reason.
Boomā¦