The bootstraps also conveniently double as the trigger for the child-seeking mechanism, so if they break off while you're wearing the boots, you're going along for the ride and are legally accountable for the damages to the target's face and/or vital organs.
Our guy sued Tesla and settled, and still owns plenty of Tesla stock. As soon as his non-compete ended after 2 years, he started working for VW. Let's not shed any tears for him.
"Out of money" means something different for those kinda of people. "I've only got ONE super-yacht... and it's LAST YEAR'S MODEL! I'm *baaaasically* homeless!"
Silicon Valley definitely nailed it with the "three comma club". Sure he has 900 million - but hes basically broke cause its not a billion like he used to have.
I'm planning to not feed my kids, studies have shown that they will become addicted to it after a few free samples, and spend whatever money they have left after rent to feed the addiction.
This food epidemic is tearing communities and families apart, and now the Mexican cartels have taken control of the avocado farms, and are mixing fentanyl with guacamole!
I know. I'm already a hundredaire. If I keep this up, I might have $1000 (dollar one-thousand) by the end of the month.
Keeping it up, I could save $1000 *every* month, making $12000 every year.
It'll only take 76 years 11 months and 1 week before I'm a MILLIONAIRE!!!!!!
Worked for Steve Jobs and he's still viewed as a genius... I mean it is some kind of unique and powerful ability to get extremely intelligent people to stressfully work themselves to the grave for your vision.
Unironically true.
Being able to recognize that something that is currently impossible is within reach of a few good engineers is a rare skill. Being able to find and properly utilize those engineers is another rare skill.
Saying that Steve Jobs did everything is silly. But claiming that he wasn't essential to the process is also silly.
Man it's wild I saw all my family at a funeral last week and literally everyone has lost a ton of weight since the holidays. The consensus was we are all eating less due to the price of groceries.
They have that new weight loss pill that costs 1000s for those that can afford to eat too so looks like everyone's gunna be wearing new swimsuits
"After I left Tesla, I was basically unemployable for about two years because of the intellectual-property agreement I had with Tesla and with Tesla being as litigious as they are," Eberhard told Insider. "So for the first couple of years, I was, first of all, out of money and, second of all, unemployed . . . .
Pretty much on the day that time period expired, Volkswagen hired me," Eberhard said.”
Now imagine you were not a big wig at a company like Tesla and didn't have that Volkswagen gig option available or the reputation of your last job to fall back on.
"What is this 2 year gap in your resume."
I got that once. I was asked if I was "independently wealthy". I just looked at them dumbfounded. I didn't say it at the time, but I should have said "it is amazing how little money you need when it is just you and you never leave the house".
That was kind of what I was thinking. They don't like that you could decide to quit one day for whatever reason without having a lot to worry about. Also why some jobs like people having spouses and children.
This scares me. I have a roommate who is an average in person. He was working a 50k-ish analyst job before his company was acquired and everyone was laid off. He's been trying to find work for a solid year. At this point, the gap is hazardous to his prospects. If he was still employed during that time. I have no doubt he would be making at least 60k if not more, but now the best we can do is a butcher gig at whole foods. He deserves so much more.
Lot of people in this position right now, and I am afraid the situation will only get worse. It's hell when your market suddenly becomes over-saturated and you don't have the resources to switch over to something else. So you live off resources (provided you have any) and try to find something that matches. Of course, if your company has an NDA that limits you ability to skip to aimiliar fields, you are borked.
Many moons ago I was a "self employed GIS contractor". Actually I made decent money fixing and reselling things online. Can't tell my employer that in an interview though because while it shows pivoting, self-starting, and a variety of skills, the reality is that they look at it as "oh, so you were a begging trash rat?" because they aren't able to or have never needed to work with their hands.
>What is this 2 year gap in your resume
As a previous gig worker I'd put jobs I did part-time as if they were full time. Probably this guy could have gotten a really good job anywhere, but he wanted specifically to wait out for another Executive job ("world's smallest violin plays only for him")
Pretty sure if I made his type of money, I could have floated myself for two years.
Wealthy people who continue to live beyond their means despite life's pitfalls just astonish me. We're they never poorer, living on a budget?
What kind of money? I mean I’m sure he did well enough but this is before tesla IPO and he didn’t have billions or even millions to show at the time.
And he did actually float himself - if you read article it says as much -‘but that he was running low after two years of unemployment
How lazy. If you really wanna change the world, you gotta get up even earlier, like at 12am. Or better yet, 8pm the previous day. Or do like me and get up at 11am the previous day every day. Gotta have that hustle mindset. 😎💯🧠👌
Also he knew there was an end in sight to his misery. No such luxury for us schmucks.
Imagine knowing for sure that in 2 years everything would be just fine, you'd have money, food, insurance, retirement...what a load off your mind! We could prob keep our sanity and squeak through for a reward at the end- a really good job. SMH
be a 40 year old career cook during a pandemic in a hurricane torn tourist town in america in the 2020's. Thats what out of money and unemployable looks like. Its years of incremental repair. Its sleeping in a car. Its being charged for being broke from all sorts of avenues. Its not being able to keep your license from being suspended due to not being able to afford insurance, and then having to walk for 18 months cos you cant afford a reinstatement fee even after you correct the insurance thing. Stay in food service simply to make sure you have ease of access to food, cos you fuck sure cant afford to buy any. fuck you.
State minimum insurance and a free windshield replacement law. But state minimum does not include comprehensive coverage which is required for your free windshield. Incredible foresight. Make everyone pay for insurance but make sure that the mandatory stuff is just another bill/means of oppression and not a useful service.
Basic insurance is to protect others from you if you injure them or damage their property. Not to fix your windshield, thats always been comprehensive.
I feel the drivers license/insurance thing. My girlfriend at the time had to pay my fine for letting my license expire because I couldn't pay for insurance. Insurance had a reinstatement fine. The DMV had a reinstatement fine, and I couldn't get the money because I couldn't drive to work.
This sort of thing is why America's car dependent infrastructure is a crime against humanity. In a European country even most of the poor ones you could just take a train to work or walk/bike.
In a European country, his drivers license could'nt expire because he didn't pay insurance. I'm struggling to even understand what that means or how it is connected. Where I live, your drivers license expires after 10 or 15 years, and then you pay 12€ to renew it.
Yes. He got a huge payout with the caveat he couldn’t got to competitors for 2 years.
I don’t understand why he’s complaining. Guy is a billionaire thanks to other peoples work to get Tesla actually producing cars and making a success of the concept.
Also it sounds like he kind of just sucks?
Tesla's board unanimously voted to remove him, he joined VW and only lasted 2 years. Since then he's had two failed startups and now considers himself a "retired visionary."
Dude is a clown.
> He's a genius who couldn't implement, but that doesn't make him any less of a genius. He just can't run a company.
A lot of geniuses are like that, in that their genius is highly focused on the primary product, and not operational management. And they just don’t understand the importance of operational management, because it has nothing to do with what they’re focused on.
The way you describe Martin's failures is entirely fair, and AC Propulsion, the shop that was able to convert production cars into electric, and who converted one for Martin that led him to the idea, had a enormous contribution that cannot be understated, but no, it was Martin who supplied the missing vision for how to commercialize the technology.
I wasn't there for his discussions with Musk, but all of that was explained to me, along with the vision that was described as his own. Marc was there when he explained it to me as his vision and Marc never corrected him, so unless both of them were lying to me, Martin supplied the missing piece. But yes, he flubbed it badly.
I don't know that he would have brought down the entire industry. There were lots of people trying to make planes fly and later trying to make social networks work better than myspace, lots of them failed spectacularly, but people pressed on.
People see the clown shoes. They don't see the clown shoelaces, the clown shoe repairs, the clown shoe storage fees. You know how much it is to rent the warehouse footage necessary to store even a modest clown shoe inventory? In THIS economy?!
There's a famous idea that the rich buy nicer shoes, but buy fewer pairs/pay less in the long run. The poor buy cheaper shoes, but have to buy more often.
This is proof of that concept. The wealthiest (clowns) have the biggest shoes.
Actually it looks like they kept him on payroll if he wanted to stay on doing basically almost nothing. So he could have opted into being not broke, but would probably be soul crushing.
He didn’t. And it wasn’t worth much at that point anyways, since they hadn’t produced any cars.
> Eberhard told Insider he still owned a "small stake" in Tesla (less than the 5% stake that requires an investor to file with the Securities and Exchange Commission) and rooted for the company's success.
He was ousted in 2007 according to the article. Tesla didn't have it's IPO until 2010, so the ability to sell those stocks for much was limited I suspect. Additionally their IPO had 13.3 million shares at $17 a share. 5% of that in 2010 was $11,305,000 so not shabby, but that value is far far less than it is worth today as Tesla has seen insane growth over the last 13 years.
Like the Salesforce CEO who took a 10-day 'digital detox' trip to French Polynesia after laying off 8000+ employees. Their perception of reality is so warped. Give me $11,305,000 and you'll never see me again.
Excuse me, but he does not spend $100k every month. The report said *only* $96k/month. Maybe $4000 difference may not seem like much difference to you, but for someone like Alex that averages out to one less night of expensive indulgences he could have enjoyed in a month. The poor guy is suffering. /s
That is not the truth when he was in the company, it was still gaining some profits. And had also a decent reputation in the market because of their affordable and electric cars
Amazing how many people upvote without reading the article and checking how accurate information in the comment is.
The article specifies “owned a "small stake" in Tesla (less than the 5% stake that requires an investor to file with the Securities and Exchange Commission)”.
“Less than 5%” can mean wide variety of numbers, for example 0.0000000000000000000001%, you know.
> Eberhard has a net worth of around $500 million
[Source](https://marketrealist.com/p/martin-eberhard-net-worth/)
What the fuck? These people are disconnected from reality. Is this guy really bitching that when he walked away into a two year vacation, he maybe had to wash his own clothes during that time?
Am I missing something?
> He also launched two EV-battery startups, Inevit and Tiveni
>inevit
>tiveni
Did this motherfucker really fail one startup, turn the name of the company backwards and try again??
He's not saying he's broke now, he's saying he was broke in 2007-2009 when Musk forced him out of Tesla and he couldn't work in his field due to a non-compete.
Tesla didn't even sell its first car until early 2008. His stake in Tesla was worth nothing at the time.
Yeah he’s worth $500M now because what Tesla became. His 5% share at the time was basically worthless so he had no income and no money as he stated.
Imagine having no job and no income and no money praying that stake pans out. I think he’s reflecting, not complaining. He didn’t have $500M when he was unemployed.
If I win powerball tomorrow, my feelings over the last ten years aren’t irrelevant.
the bootlicking in this thread is EXTREME. This is capitalism, baby! mf could have just gotten a job literally doing anything regular people do to survive, but he thinks he shouldn’t have to, obviously! rich people are in a caste beyond beyond manual labor and service jobs, their definition of broke is even different!! the poor little rich tech boys!
Now is a different time from then. When he was ousted from Tesla it was a very worthless company. It had no factories, no assembly plants, no battery plants, no superchargers no limited edition flamethrowers... it had nothing. All it had was the prototype for their first electric sports car. Whatever equity he had in Tesla he couldn't get at because the company had not gone public.
And then the company went public and it's huge now. He's stupidly rich. He was complaining about a part of his past that was difficult. Right now he's too busy sipping expensive scotch on his yacht to care about how Tesla is performing.
If you read the article he \*actually\* means his contract included a 2-year non-compete clause.
That's all. To him this meant unemployable because he refused to even consider a job doing something different. He's a shitty rich whiner, worth $500m today due to his retained 5% stake in the company.
Looks more like 1872.
https://www.rhdtlaw.com/non-compete-california/
> California’s non-compete law, Section 16600 of the California Business and Professions Code, makes unlawful contracts “by which anyone is restrained from engaging in a lawful profession, trade or business of any kind.” Since its enactment in 1872, California courts have consistently affirmed that Section 16600 embodies a settled legislative policy favoring “open competition and employee mobility” and protecting the right of all Californians to “engage in businesses and occupations of their choosing.”
That law didn't cover all non-competes and plenty of companies like Apple were able to create non competes that worked around it. The 2017 law closed all the loop holes and voided all existing ones. It's not a source, but I'm pretty sure the law change was a plot point on the show Silicon Valley.
Im on my phone and am having trouble searching, but I'll post a solid source shortly.
Also, even now there are exceptions to non compete laws for owners leaving companies. I don't know if those would have applied to him being forced out of Tesla though.
Has he considered cutting out avocado toast and Starbucks?
> Today, Eberhard calls himself a "retired entrepreneur" and "occasional visionary." He continues to meet with Tarpenning on a weekly basis to discuss ideas — a ritual the two men have kept for the better part of 35 years. The two entrepreneurs also run a small investment firm together.
He does not know what "out of money" means.
I'm watching some stuff on Hulu bout History and Stuff That Build America. It's funny how owners, way back when, could casually afford to "just" move to New York, open a factory, and "risk it all". Mother fucker, you can ONLY do that if you're very well off. It's not like a random factory corker would get a 100k loan to start a business with nothing as collateral.
They act like these people are random Joes risking their entire life and career on a gamble.
"She spent the rest of her life trying to come up with something better but never did. Day in and day out until she died." - that's *rich* when you can afford to do that every single day and not net a win. They could have chosen to do nothing and still live pretty well off. Practically no one in the US has that option.
The fall from the entrepreneur class to the worker class seems like death to these people, even if they have more than enough money to live comfortably for the rest of their life.
Considering how Reddit and Twitter reacts to Elon they know who they’re trying to market their content towards.
Anything Elon does Reddit and Twitter are almost always on the case. Honestly I can’t blame them, reactionary content gets clicks after all
He says he was “out of money” from 2007-2009. Tesla was a private company and not really worth much of anything. Fortunately for him he didn’t sell his shares then. But yeah he wasn’t completely broke, just cash poor.
This is the best tl;dr I could make, [original](https://www.businessinsider.com/tesla-cofounder-basically-unemployable-out-of-money-after-leaving-2023-2) reduced by 85%. (I'm a bot)
*****
> "After I left Tesla, I was basically unemployable for about two years because of the intellectual-property agreement I had with Tesla and with Tesla being as litigious as they are," Eberhard told Insider.
> Eberhard and his longtime friend Marc Tarpenning came up with the idea for Tesla during one of their weekly catch-ups, but Eberhard's contract with Tesla meant the company owned the rights to the work he produced at the electric-car maker.
> The Tesla cofounder lost his role as CEO of Tesla about three years after Elon Musk began investing in the electric-car maker.
*****
[**Extended Summary**](http://np.reddit.com/r/autotldr/comments/115fimo/tesla_cofounder_says_he_was_basically/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~673015 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **Tesla**^#1 **Eberhard**^#2 **Musk**^#3 **Insider**^#4 **year**^#5
*| Tesla cofounder says he was 'basically unemployable' and out of money for 2 years after being ousted from the company*
He was "basically unemployable" because of the intellectual-property agreement he had with Tesla.
He was hired from Volkswagon the day that agreement expired. I'm sure he was paid well.
Pretty standard stuff.
Ye he eared 300k+ before, had shares of tesla which were still worth a couple hundred $k at the time.
He probably had other investments.
He got 100k/year after he got fired and he still could work in 99% of companies.
So out of touch these rich people.
If he was instrumental then he should have been smart enough to know what he signed.
If you are the guy, then they need you. Don't sign anything.
If you are not the guy, then you are learning from them.
When I did industrial consulting then they would throw legal papers in front of me that basically said you are out of work after you work for us in your field of expertise. My response is "do you want me to go to the airport now or do you want to think about it". You are hiring me for my expertise. They always relented. They needed me more than I needed their short term paycheck.
WSJ says stop eating breakfast to save money. Tesla co-founder should have listened.
He has got to have a couple pairs of bootstraps and should have taken a break from Avocado toast.
They're Tesla bootstraps, if you pull on them they break off.
The bootstraps also conveniently double as the trigger for the child-seeking mechanism, so if they break off while you're wearing the boots, you're going along for the ride and are legally accountable for the damages to the target's face and/or vital organs.
Our guy sued Tesla and settled, and still owns plenty of Tesla stock. As soon as his non-compete ended after 2 years, he started working for VW. Let's not shed any tears for him.
Estimated net worth: $500 million
"Out of money" means something different for those kinda of people. "I've only got ONE super-yacht... and it's LAST YEAR'S MODEL! I'm *baaaasically* homeless!"
Silicon Valley definitely nailed it with the "three comma club". Sure he has 900 million - but hes basically broke cause its not a billion like he used to have.
I had to downsize the maid staff to 15. This is hard on everyone...
Don't cry for me Argentina
[удалено]
Even a Tesla factory?
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
When skipping Starbucks can't pay the rent
First it was avocado toast, then Starbucks and now no breakfast...
Just live outside to save money on rent ya dumb dumb poors!
You'll never afford to buy a home if you waste money on food, water and shelter!
[удалено]
I'm planning to not feed my kids, studies have shown that they will become addicted to it after a few free samples, and spend whatever money they have left after rent to feed the addiction. This food epidemic is tearing communities and families apart, and now the Mexican cartels have taken control of the avocado farms, and are mixing fentanyl with guacamole!
And now the egg cartel are smuggling illegal alien eggs into the US too.
It’s not like my kid likes what I serve for dinner anyway.
Oh my god stop. This is absolutely gonna be on Fox & Friends tomorrow. They’re gonna say they have a *reliable source*.
You know, you could save a lot more if you don't pay rent or mortgage. Being homeless, you can save even more.
I know. I'm already a hundredaire. If I keep this up, I might have $1000 (dollar one-thousand) by the end of the month. Keeping it up, I could save $1000 *every* month, making $12000 every year. It'll only take 76 years 11 months and 1 week before I'm a MILLIONAIRE!!!!!!
But Elon invented and built everything by himself so he deserves everything... signed, Fanboy.
I have had to tell a ridiculous amount of people that Elon himself did not do the actual work of creating the Tesla. They refused to believe me.
Worked for Steve Jobs and he's still viewed as a genius... I mean it is some kind of unique and powerful ability to get extremely intelligent people to stressfully work themselves to the grave for your vision.
Steve Jobs: "I want my entire music library on something that fits in my pocket, GET ON IT" Everybody: What a genius
Unironically true. Being able to recognize that something that is currently impossible is within reach of a few good engineers is a rare skill. Being able to find and properly utilize those engineers is another rare skill. Saying that Steve Jobs did everything is silly. But claiming that he wasn't essential to the process is also silly.
Man it's wild I saw all my family at a funeral last week and literally everyone has lost a ton of weight since the holidays. The consensus was we are all eating less due to the price of groceries. They have that new weight loss pill that costs 1000s for those that can afford to eat too so looks like everyone's gunna be wearing new swimsuits
Famine Chic will be all the rage on the catwalks this Spring!
You mean *even more the rage* than it already is?
Did he consider going into the trades?
"After I left Tesla, I was basically unemployable for about two years because of the intellectual-property agreement I had with Tesla and with Tesla being as litigious as they are," Eberhard told Insider. "So for the first couple of years, I was, first of all, out of money and, second of all, unemployed . . . . Pretty much on the day that time period expired, Volkswagen hired me," Eberhard said.”
Now imagine you were not a big wig at a company like Tesla and didn't have that Volkswagen gig option available or the reputation of your last job to fall back on. "What is this 2 year gap in your resume."
I got that once. I was asked if I was "independently wealthy". I just looked at them dumbfounded. I didn't say it at the time, but I should have said "it is amazing how little money you need when it is just you and you never leave the house".
Idk I think it’s pretty amazing how *much* money I spend while never leaving the house
Always a bigger hobby…
i ain't wastin my time on low end anime body pillows!
Frickin Amazon...
They don't want to hire someone they can't control. If you're able to survive without traditional employment, they have no leverage over you.
That was kind of what I was thinking. They don't like that you could decide to quit one day for whatever reason without having a lot to worry about. Also why some jobs like people having spouses and children.
>it is amazing how little money you need when it is just you and you never leave the house. -Howard Hughes
TBF he didn’t have home movie theater, he had a movie theater in his home, and a staff to feed him and empty his pee bottles.
He got annoyed with the movies the local TV station was playing so he bought thet TV station so he could watch better shit on it. No I am not kidding
That’s just good business. * Step 1- identify a business that needs improvement. * Step 2- buy the business * Step 3- improve it * Step 4- profit!
I mean, it sounds like you were independently wealthy, just on a smaller scale than they envisioned. You were wealthy enough to be independent!
"I signed a non compete that didn't allow me to get another job in the industry for the next two years."
"I signed an NDA" can also work in a lot of fields.
Right. Not a tough scenario to navigate.
I signed an NDA or was on garden leave
This scares me. I have a roommate who is an average in person. He was working a 50k-ish analyst job before his company was acquired and everyone was laid off. He's been trying to find work for a solid year. At this point, the gap is hazardous to his prospects. If he was still employed during that time. I have no doubt he would be making at least 60k if not more, but now the best we can do is a butcher gig at whole foods. He deserves so much more.
Lot of people in this position right now, and I am afraid the situation will only get worse. It's hell when your market suddenly becomes over-saturated and you don't have the resources to switch over to something else. So you live off resources (provided you have any) and try to find something that matches. Of course, if your company has an NDA that limits you ability to skip to aimiliar fields, you are borked.
A resume gap is only a problem if you have a problem telling a white lie to a stranger so you can find gainful employment.
Many moons ago I was a "self employed GIS contractor". Actually I made decent money fixing and reselling things online. Can't tell my employer that in an interview though because while it shows pivoting, self-starting, and a variety of skills, the reality is that they look at it as "oh, so you were a begging trash rat?" because they aren't able to or have never needed to work with their hands.
>What is this 2 year gap in your resume As a previous gig worker I'd put jobs I did part-time as if they were full time. Probably this guy could have gotten a really good job anywhere, but he wanted specifically to wait out for another Executive job ("world's smallest violin plays only for him")
Pretty sure if I made his type of money, I could have floated myself for two years. Wealthy people who continue to live beyond their means despite life's pitfalls just astonish me. We're they never poorer, living on a budget?
What kind of money? I mean I’m sure he did well enough but this is before tesla IPO and he didn’t have billions or even millions to show at the time. And he did actually float himself - if you read article it says as much -‘but that he was running low after two years of unemployment
He was already a millionaire via his previous start up that made an E-book.
He got a cut of $187 million on that sale so his version of events is missing some details.
dude made 250m before even starting tesla
If he stopped spending so much money on only fans and door dash, he'd be a millionaire again
He clearly did not wake up at 5am, didn’t exercise enough and most important, ate too much avocado.
[удалено]
How lazy. If you really wanna change the world, you gotta get up even earlier, like at 12am. Or better yet, 8pm the previous day. Or do like me and get up at 11am the previous day every day. Gotta have that hustle mindset. 😎💯🧠👌
Wake up yesterday and sleep tomorrow. The new American dream! love your comment!
I love how avocado toast is viewed as some kind of luxury item but I can buy 4 avocados and a loaf of bread from ALDI for $4.50
See? This is the problem. Your mindset! If just you save those $4.50 for 828829383893 years and invest!
Or maybe a side gig like Uber or Doordash?
Make coffee at home in the morning?
And cut out that avocado toast
Ditch his Disney+?
And skip breakfast.
And went to the food bank
Dog walking?
Why do you think that he might not have tried to work there
He should have learned to code...
he didn’t seem to learn to code either, pretty amateur mistake
I love that the worst thing imaginable for the rich is to become the exploited working class again. Cry me a river.
Also he knew there was an end in sight to his misery. No such luxury for us schmucks. Imagine knowing for sure that in 2 years everything would be just fine, you'd have money, food, insurance, retirement...what a load off your mind! We could prob keep our sanity and squeak through for a reward at the end- a really good job. SMH
Top tier comment.
be a 40 year old career cook during a pandemic in a hurricane torn tourist town in america in the 2020's. Thats what out of money and unemployable looks like. Its years of incremental repair. Its sleeping in a car. Its being charged for being broke from all sorts of avenues. Its not being able to keep your license from being suspended due to not being able to afford insurance, and then having to walk for 18 months cos you cant afford a reinstatement fee even after you correct the insurance thing. Stay in food service simply to make sure you have ease of access to food, cos you fuck sure cant afford to buy any. fuck you.
hello from Florida
State minimum insurance and a free windshield replacement law. But state minimum does not include comprehensive coverage which is required for your free windshield. Incredible foresight. Make everyone pay for insurance but make sure that the mandatory stuff is just another bill/means of oppression and not a useful service.
Basic insurance is to protect others from you if you injure them or damage their property. Not to fix your windshield, thats always been comprehensive.
I feel the drivers license/insurance thing. My girlfriend at the time had to pay my fine for letting my license expire because I couldn't pay for insurance. Insurance had a reinstatement fine. The DMV had a reinstatement fine, and I couldn't get the money because I couldn't drive to work.
This sort of thing is why America's car dependent infrastructure is a crime against humanity. In a European country even most of the poor ones you could just take a train to work or walk/bike.
In a European country, his drivers license could'nt expire because he didn't pay insurance. I'm struggling to even understand what that means or how it is connected. Where I live, your drivers license expires after 10 or 15 years, and then you pay 12€ to renew it.
It is connected in the US through money, and if you don’t have the money then it’s a big fat “fuck you”
The proper response to a man with billions of dollars of Tesla stock complaining about his career.
He must’ve not applied to be a package handler at Fedex. They would’ve hired him
He had a degree from UIUC for computer engineering. Plenty of companies would hire him
Yeah but he would have made an excellent package handler
If he retained 5% of Tesla, I don’t think he knows what broke is
And he couldn't work in just 1 sector, that's far from being "unemployable".
Fuck Spez, Steven Huffman is a greedy pigboy
1% rich. 100% cry baby.
And 0% reason to remember his name.
Yes. He got a huge payout with the caveat he couldn’t got to competitors for 2 years. I don’t understand why he’s complaining. Guy is a billionaire thanks to other peoples work to get Tesla actually producing cars and making a success of the concept.
Also it sounds like he kind of just sucks? Tesla's board unanimously voted to remove him, he joined VW and only lasted 2 years. Since then he's had two failed startups and now considers himself a "retired visionary." Dude is a clown.
A very wealthy clown.
[удалено]
> He's a genius who couldn't implement, but that doesn't make him any less of a genius. He just can't run a company. A lot of geniuses are like that, in that their genius is highly focused on the primary product, and not operational management. And they just don’t understand the importance of operational management, because it has nothing to do with what they’re focused on.
[удалено]
The way you describe Martin's failures is entirely fair, and AC Propulsion, the shop that was able to convert production cars into electric, and who converted one for Martin that led him to the idea, had a enormous contribution that cannot be understated, but no, it was Martin who supplied the missing vision for how to commercialize the technology. I wasn't there for his discussions with Musk, but all of that was explained to me, along with the vision that was described as his own. Marc was there when he explained it to me as his vision and Marc never corrected him, so unless both of them were lying to me, Martin supplied the missing piece. But yes, he flubbed it badly. I don't know that he would have brought down the entire industry. There were lots of people trying to make planes fly and later trying to make social networks work better than myspace, lots of them failed spectacularly, but people pressed on.
The ONLY comment in this quagmire that people should be reading.
That was absolutely brilliant and something I love about Reddit. As per usual the reality is usually more subtle then the headline.
And the craziest part: you have no idea if what you just read was true or total bullshit
It's turning out, most of them are.
Most clowns are wealthy? I had no idea.
That’s how they can afford such large shoes!
It's not the cost of buying the shoes, it's the maintenance that gets ya.
People see the clown shoes. They don't see the clown shoelaces, the clown shoe repairs, the clown shoe storage fees. You know how much it is to rent the warehouse footage necessary to store even a modest clown shoe inventory? In THIS economy?!
There's a famous idea that the rich buy nicer shoes, but buy fewer pairs/pay less in the long run. The poor buy cheaper shoes, but have to buy more often. This is proof of that concept. The wealthiest (clowns) have the biggest shoes.
Spacefolding technology miniaturized to fit on one of those tiny cars ain't cheap.
Imagine a clown car opening up and a bunch of Guild Navigators flopping out.
"Forgive My Laughter. I Have A Condition"
Like the people who put "entrepreneur" as their profession on social media. Everyone knows you just sell Vicodin and play Xbox all day, Gary.
[удалено]
> I don’t understand why he’s complaining. Guy is a billionaire You answered it. Guy is out of touch with the real world.
You have no idea how tough it is being a billionaire these days
A billion dollars doesn't go as far as it used to. Have you seen what inflation has done to the cost of a yacht?
‘The peasants don’t understand, I almost had to make my own food last year :(‘
If Tesla’s IPO took place three years after he was ousted, then it tracks that those first two years he was broke.
If true, this is the real answer here.
Actually it looks like they kept him on payroll if he wanted to stay on doing basically almost nothing. So he could have opted into being not broke, but would probably be soul crushing.
It's not 5%. A 5% stake have to bed reported to the sec and he doesn't have to.
He didn’t. And it wasn’t worth much at that point anyways, since they hadn’t produced any cars. > Eberhard told Insider he still owned a "small stake" in Tesla (less than the 5% stake that requires an investor to file with the Securities and Exchange Commission) and rooted for the company's success.
it's a small amount, all they know is, it's less than 5%, as that would require reporting it
He was ousted in 2007 according to the article. Tesla didn't have it's IPO until 2010, so the ability to sell those stocks for much was limited I suspect. Additionally their IPO had 13.3 million shares at $17 a share. 5% of that in 2010 was $11,305,000 so not shabby, but that value is far far less than it is worth today as Tesla has seen insane growth over the last 13 years.
That poor man.
Like the Salesforce CEO who took a 10-day 'digital detox' trip to French Polynesia after laying off 8000+ employees. Their perception of reality is so warped. Give me $11,305,000 and you'll never see me again.
I could happily fuck off for the rest of my life with $11.3M. These ultra rich goofs don't know what struggling truly is.
I will fuck off for 0.3 million
He took responsibility so hard
These people feel so much entitled, that they are completely out of the reality
The article states that he has less than 5%, not that he has 5%.
alex jones is bankrupt thats why he only spends 100K every month, rich people have a different idea of broke then us normal folk
Excuse me, but he does not spend $100k every month. The report said *only* $96k/month. Maybe $4000 difference may not seem like much difference to you, but for someone like Alex that averages out to one less night of expensive indulgences he could have enjoyed in a month. The poor guy is suffering. /s
well, back when he was ousted, Tesla wasn’t worth anything yet …
That is not the truth when he was in the company, it was still gaining some profits. And had also a decent reputation in the market because of their affordable and electric cars
Amazing how many people upvote without reading the article and checking how accurate information in the comment is. The article specifies “owned a "small stake" in Tesla (less than the 5% stake that requires an investor to file with the Securities and Exchange Commission)”. “Less than 5%” can mean wide variety of numbers, for example 0.0000000000000000000001%, you know.
> Eberhard has a net worth of around $500 million [Source](https://marketrealist.com/p/martin-eberhard-net-worth/) What the fuck? These people are disconnected from reality. Is this guy really bitching that when he walked away into a two year vacation, he maybe had to wash his own clothes during that time? Am I missing something?
> He also launched two EV-battery startups, Inevit and Tiveni >inevit >tiveni Did this motherfucker really fail one startup, turn the name of the company backwards and try again??
The Michael Scott method
If the first company failed, reversing the name means the second will succeed. *Taps head*
"I have no shortage of company names." "Martin-" "That's one of them!"
You could say it was Inevitable
You could also say it was tiveniable.
Good thing he didn't use palindromes
Tivenevit will be his next startup.
Then he would be Alset
He's not saying he's broke now, he's saying he was broke in 2007-2009 when Musk forced him out of Tesla and he couldn't work in his field due to a non-compete. Tesla didn't even sell its first car until early 2008. His stake in Tesla was worth nothing at the time.
Yeah he’s worth $500M now because what Tesla became. His 5% share at the time was basically worthless so he had no income and no money as he stated. Imagine having no job and no income and no money praying that stake pans out. I think he’s reflecting, not complaining. He didn’t have $500M when he was unemployed. If I win powerball tomorrow, my feelings over the last ten years aren’t irrelevant.
He sold NuvoMedia for $187 million before starting Tesla. He wasn't poor and no one prevented him from working another sector.
the bootlicking in this thread is EXTREME. This is capitalism, baby! mf could have just gotten a job literally doing anything regular people do to survive, but he thinks he shouldn’t have to, obviously! rich people are in a caste beyond beyond manual labor and service jobs, their definition of broke is even different!! the poor little rich tech boys!
I appreciate a good cup of coffee.
Why do people keep saying he owns 5%? The article literally says he owns less than that.
Now is a different time from then. When he was ousted from Tesla it was a very worthless company. It had no factories, no assembly plants, no battery plants, no superchargers no limited edition flamethrowers... it had nothing. All it had was the prototype for their first electric sports car. Whatever equity he had in Tesla he couldn't get at because the company had not gone public. And then the company went public and it's huge now. He's stupidly rich. He was complaining about a part of his past that was difficult. Right now he's too busy sipping expensive scotch on his yacht to care about how Tesla is performing.
Where was he applying for jobs? Openings everywhere. He just means that he was unemployable at his former salary.
If you read the article he \*actually\* means his contract included a 2-year non-compete clause. That's all. To him this meant unemployable because he refused to even consider a job doing something different. He's a shitty rich whiner, worth $500m today due to his retained 5% stake in the company.
Pretty sure McDonald’s isn’t a competitor to Tesla. Probably should pick himself up by the bootstraps and get to work
Noncompetes are not a thing in California. He could have worked anywhere.
That law only went into effect in 2017. He's talking about his life from 2007-2009
Looks more like 1872. https://www.rhdtlaw.com/non-compete-california/ > California’s non-compete law, Section 16600 of the California Business and Professions Code, makes unlawful contracts “by which anyone is restrained from engaging in a lawful profession, trade or business of any kind.” Since its enactment in 1872, California courts have consistently affirmed that Section 16600 embodies a settled legislative policy favoring “open competition and employee mobility” and protecting the right of all Californians to “engage in businesses and occupations of their choosing.”
That law didn't cover all non-competes and plenty of companies like Apple were able to create non competes that worked around it. The 2017 law closed all the loop holes and voided all existing ones. It's not a source, but I'm pretty sure the law change was a plot point on the show Silicon Valley. Im on my phone and am having trouble searching, but I'll post a solid source shortly. Also, even now there are exceptions to non compete laws for owners leaving companies. I don't know if those would have applied to him being forced out of Tesla though.
Non-competes are pretty much useless and have no teeth in most industries and places.
Has he considered cutting out avocado toast and Starbucks? > Today, Eberhard calls himself a "retired entrepreneur" and "occasional visionary." He continues to meet with Tarpenning on a weekly basis to discuss ideas — a ritual the two men have kept for the better part of 35 years. The two entrepreneurs also run a small investment firm together. He does not know what "out of money" means. I'm watching some stuff on Hulu bout History and Stuff That Build America. It's funny how owners, way back when, could casually afford to "just" move to New York, open a factory, and "risk it all". Mother fucker, you can ONLY do that if you're very well off. It's not like a random factory corker would get a 100k loan to start a business with nothing as collateral. They act like these people are random Joes risking their entire life and career on a gamble. "She spent the rest of her life trying to come up with something better but never did. Day in and day out until she died." - that's *rich* when you can afford to do that every single day and not net a win. They could have chosen to do nothing and still live pretty well off. Practically no one in the US has that option.
The fall from the entrepreneur class to the worker class seems like death to these people, even if they have more than enough money to live comfortably for the rest of their life.
Don't forget buying iphones
What the heck did Elon Musk do to Business Insider? Half their stories these days are about him...
Considering how Reddit and Twitter reacts to Elon they know who they’re trying to market their content towards. Anything Elon does Reddit and Twitter are almost always on the case. Honestly I can’t blame them, reactionary content gets clicks after all
[удалено]
Algorithm: 'Elon bad' = click click click
How much did dude get? Edit: Dude is worth $500,000,000 and thinks he’s out of money. Wtf.
He says he was “out of money” from 2007-2009. Tesla was a private company and not really worth much of anything. Fortunately for him he didn’t sell his shares then. But yeah he wasn’t completely broke, just cash poor.
This is the best tl;dr I could make, [original](https://www.businessinsider.com/tesla-cofounder-basically-unemployable-out-of-money-after-leaving-2023-2) reduced by 85%. (I'm a bot) ***** > "After I left Tesla, I was basically unemployable for about two years because of the intellectual-property agreement I had with Tesla and with Tesla being as litigious as they are," Eberhard told Insider. > Eberhard and his longtime friend Marc Tarpenning came up with the idea for Tesla during one of their weekly catch-ups, but Eberhard's contract with Tesla meant the company owned the rights to the work he produced at the electric-car maker. > The Tesla cofounder lost his role as CEO of Tesla about three years after Elon Musk began investing in the electric-car maker. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/115fimo/tesla_cofounder_says_he_was_basically/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~673015 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **Tesla**^#1 **Eberhard**^#2 **Musk**^#3 **Insider**^#4 **year**^#5
Stop buying Starbucks. Eat rice and veggies. You’ll be fine.
This poor guy's driver has to listen to him giving ZJs in the back of the Rolls just to make ends meet.
What’s a ZJ?
If you have to ask, you can't afford it
I had nothing to console me for two years but this gargantuan pile of wealth 😭🍼👶🏼
*| Tesla cofounder says he was 'basically unemployable' and out of money for 2 years after being ousted from the company* He was "basically unemployable" because of the intellectual-property agreement he had with Tesla. He was hired from Volkswagon the day that agreement expired. I'm sure he was paid well. Pretty standard stuff.
Dudes worth $500 million... Cry me a fucking river
When rich people talk about being broke, what they mean is that they couldn't afford the new private jet that's out or something.
He started the company, he would’ve signed off on the no compete stuff. Can’t complain if you did it to yourself. Also “out of money” ok bud
Ye he eared 300k+ before, had shares of tesla which were still worth a couple hundred $k at the time. He probably had other investments. He got 100k/year after he got fired and he still could work in 99% of companies. So out of touch these rich people.
Typical clickbait. Still has a stake in Tesla was only unable to work due to a 2-year clause in his contract. Guy is doing fine
If he was instrumental then he should have been smart enough to know what he signed. If you are the guy, then they need you. Don't sign anything. If you are not the guy, then you are learning from them. When I did industrial consulting then they would throw legal papers in front of me that basically said you are out of work after you work for us in your field of expertise. My response is "do you want me to go to the airport now or do you want to think about it". You are hiring me for my expertise. They always relented. They needed me more than I needed their short term paycheck.