There was a SEC filing yesterday about Boring Company. Musk seems to have raised $113 Million for digging tunnels.
Very interesting thing every one is missing is 90% of that money came from Elon Musk.
a) 90% came from Elon Musk, with the rest from early employees. No venture capitalists or outside investors are involved according to the company. Normal startups are funded by at least 90% VC $, but smart guys moved away from Elon, so he has to fund it himself
https://twitter.com/Lebeaucarnews/status/985994145805238273
b) Or is it because Elon Musk expects Bankruptcy and this is a potential way to divest personally from Tesla without triggering any 144s. GoPro founder did this years ago, by "gifting" shares to a charity trust he controlled when he was still under IPO holding rules. It was a way to get $$$ out before the decline.
I am curious what everyone thinks here
Submitted April 17, 2018 at 09:52AM by TesronMusk https://ift.tt/2JTMOsK
