Posted on 05/31/2015 9:27:33 AM PDT by NormsRevenge
Los Angeles entrepreneur Elon Musk has built a multibillion-dollar fortune running companies that make electric cars, sell solar panels and launch rockets into space.
And he's built those companies with the help of billions in government subsidies.
Tesla Motors Inc., SolarCity Corp. and Space Exploration Technologies Corp., known as SpaceX, together have benefited from an estimated $4.9 billion in government support, according to data compiled by The Times. The figure underscores a common theme running through his emerging empire: a public-private financing model underpinning long-shot start-ups.
"He definitely goes where there is government money," said Dan Dolev, an analyst at Jefferies Equity Research. "That's a great strategy, but the government will cut you off one day."
The figure compiled by The Times comprises a variety of government incentives, including grants, tax breaks, factory construction, discounted loans and environmental credits that Tesla can sell. It also includes tax credits and rebates to buyers of solar panels and electric cars.
(Excerpt) Read more at latimes.com ...
Only for oil companies. ;’)
Okay, here's an idea, get the U.S. government out of the venture capital business.
Sheesh.
5.56mm
While I wish entrepreneurs woulod just focus on what their customers want, I can’t really blame Musk and others for taking the fruit that is offered by government. The problem starts with government, not the businesses.
Accountability, frugality, ability, honesty, should I continue?
Corporatism, not Socialism is the increasing threat.
The Patriot Act became the Freedom Act. What is lost on many is that as the Patriot Act, it is Socialism. As the Freedom Act it is Corporatism...more power to the Oligarchs who will now control the “meta-data”.
“name me something where the government ISN’T the customer?”
Accountability, frugality, ability, honesty, should I continue?
I am serious, a thought experiment, name me an economic activity where the government ISNT the customer. If you can find one, let me know, I will head in that direction.
He gets billions from 0Obama (our $$) then gives millions to dear leader’s coffers. Laundering pure and simple...graft.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.