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The Almighty Buck

Submission + - Tesla CEO Musk is Car-Rich, Cash-Poor

theodp writes: He's got 99 Problems, and a soon-to-be ex-wife is one. Tesla Motors CEO Elon Musk seems to have it all. The electric-car entrepreneur is the toast of Silicon Valley, Sacramento, and Tokyo after unveiling a plan to revive Toyota’s shuttered NUMMI plant. Deal-hungry Wall Street bankers are angling to take his company public. He’s even got a cameo in Iron Man 2. The one thing he doesn’t have, by his own admission, is money. 'About four months ago, I ran out of cash,' he wrote in a Feb. 23rd court filing reviewed by VentureBeat. According to the filing, Musk has been living off personal loans from friends since Oct. 2009 and spending $200K a month while making far less. Tesla Motors, likewise, is dealing with its cash flow problems by borrowing money from a friendly source — the U.S. government, which made $465MM available to the cleantech startup.

Comment Re:Not as effective as you would think (Score 1) 372

I don't know why you're being sarcastic, I've never seen anyone type an ip address into the browser for anything other than troubleshooting. Hell, if you have a netgear router, you can even type out routerlogin.net if you don't want to memorize "192.168.1.1". I'm not saying people won't figure it out if they need their fix, but even something like web-based proxies are vastly unused by high school students trying to get around filters.

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