Elon Musk's company avoided almost all federal income tax on over $12 billion of U.S. income over the past three years Tesla, the company owned by a billionaire who briefly held a job seeking to cut federal government waste, received over $1.1 billion in federal income tax breaks from American taxpayers last year alone. read more
Gavin Newsom' and his staff have quietly talked to the champion of a controversial wealth tax proposal seeking an off-ramp to defuse a looming ballot measure fight. The conversations, reported here for the first time, have occurred intermittently for months as SEIU-UHW's ballot initiative targeting billionaires migrated from the backrooms of California politics to the center of a raging debate about Silicon Valley and income inequality, sparking tech titans' wrath and vows to move out of state. read more
A major link in Tesla's 4680 battery supply chain has just snapped. South Korean battery material supplier L&F Co. announced today that the value of its massive supply deal with Tesla has been slashed by over 99%, signaling a catastrophic drop in demand for the automaker's in-house battery cells. read more
They've blew through the low hanging fruit, there was never that much of it, and are chasing white people now. Wild times.