As distasteful as it may sound, Elon Musk, the man behind Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp (NASDAQ:SCTY) is a cog in the larger machine of Craptilism. Jason Mantera, author of the book by the same name, ‘Craptilism’, explained on Fox Business why he sees Tesla and Solar City being part of the economic problem, rather than a solution.
Materra, didn’t show any reservations, when it came to using colourful language, so to speak. He said that all taxpaying U.S. citizens are being swindled into Tesla Motors Inc (NASDAQ:TSLA) And SolarCity Corp (NASDAQ:SCTY)’s inefficient business models.
“[…] He [Elon Musk] is certainly swiping tax dollars, because he wants us to be a part of his business investment, whether we like it or not […],” said Mattera.
If not inefficient, the twin companies, for which Elon Musk is the Chairman, are certainly less productive, in the economic sense, according to Materra. He described SolarCity Corp (NASDAQ:SCTY) and Tesla Motors Inc (NASDAQ:TSLA) like leeches feeding on the profits of other companies.
” […] In the state of California you have fossil fuel manufacturing who are required to buy clean air credits. They buy them from companies like Tesla Motors Inc (NASDAQ:TSLA), that adds significantly to Tesla’s bottom line. So, here you have companies, fossil fuel producers, automakers who actually are making money producing a vehicle that people want […],” explained Materra.
Matella’s analysis lacks a very essential element. The big picture. How is our world going to look like in the next ten or twenty years? How do we want to shape it? What future will we like for our next generations to have? Companies like Tesla Motors Inc (NASDAQ:TSLA) And SolarCity Corp (NASDAQ:SCTY) help in answering precisely these sort of questions.
Even if these companies have to rely on government subsidies and other corporations to fatten their bottom lines, the future is going to be very different. With the development of technology in the future they will have far more investment friendly multiples than the fossil fuel auto manufacturers. Moreover, they give us a shot at ‘sustainable development’, a chance to save our planet from the disregard that we as humans have been lavishing on it for centuries.
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.