Carvana just reported and in the most recent quarter they lost $3,200 per car lololol
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Given the logistics of picking it up from you, storing/detailing it etc, then delivering it to whoever eventually purchases it, I would put it somewhere near 0% they list it under 3 grand
Anecdotal, but Carvana lowballed the shit out of me for my 2007 Volvo last year. Carmax almost tripled Carvana’s offer. I just shrugged and thought who the fuck would ever use these guys.
Uber and DoorDash are also massively subsidized by their own labor
It’s called disrupting.
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Also depreciating vehicle value and wear and tear.
Yeah that’s what their labor pays for
Their algos were really slow to catch onto the skyrocketing prices on the buy side. Like at one point some cars they were selling for $15k would simultaneously offer $5k if you put the vehicle details into the form. A $10k spread on used cars ain’t a thang, so I kept checking and eventually the offers caught up. A several month lag in a highly volatile market seems like the kind of problem that would lead to -$3,200 per unit results.
did bolsanaro give elon a medal?
Zillow and Carvana both spent billions of dollars coming up with algorithms to lose staggering amounts of money. Similarly Uber and Door Dash and We Work spent (and continue to spend) billions losing money selling products that are pure commodities.
I will admit I lost faith the reckoning would ever come
but in hindsight, what the fuck? How does this happen over and over and over again.
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he’ll go the kudlow/ross way and be a special advisor or secretary.
Elon getting elected President is a demotion.
Since August 2021, CVNA is -92.2%.
Income inequality is so severe that the wealthiest Americans are literally running out of places to put their money so they’re being talked into absurd growth narratives to justify stuff like a $73B market cap for Carvana.
Area man pays 250k to woman not on the plane for whipping his dick out on said plane
https://twitter.com/elonmusk/status/1528872338866860032?s=21&t=qBDs2VxS3FZVH4inVCfNRw
Also
https://twitter.com/bgrahamdisciple/status/1528911402546741249?s=21&t=qBDs2VxS3FZVH4inVCfNRw
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Astronaut meme, “it’s all Pyramid schemes?” “always has been”
I don’t know a lot about business but it’s probably common for pioneers in an industry to make critical mistakes and be followed by successful companies that get to learn from their mistakes.
Edison had innovative ideas (even if he stole them) but fucked up his electric company ventures. The Wright brothers were far enough ahead of their time that iirc it took years after their first flights to convince people that heavier than air flight was even possible. But their airplane company still failed.
Musk might be rich and a good enough bullshit artist that he can survive his initial failures and come back to succeed in the same industry. So even if Tesla fails at being a car company and at being a battery company it can still succeed at the next thing, whatever that might be.
Same except my Carmax offer was only 50% higher.
Carvana would have come and picked it up, but that ain’t worth 50%.
Is that THE flight attendant or just a random space X flight attendant?
One of my favorite book titles from graduate school seems appropes:
https://images-na.ssl-images-amazon.com/images/I/413WPQA4P1L\.\_SX328_BO1,204,203,200_.jpg
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Bookmarking this so when Australia is being invaded by President Musks Spacetroopers and I’m about to die. I know exactly who to blame.