What does Larry Ellison, co-founder and former CEO of Oracle, think of Elon Musk and Tesla? First some facts: Larry disclosed on October 25, 2018 that Tesla is his 2nd largest investment owning 3 million shares. On December 29, 2018, Larry joined Tesla’s board as an independent board member. We compiled a list of quotes / transcripts of Larry on Elon Musk to find out what he thinks about Elon.
Larry is a big supporter of Elon Musk and considers himself a “very close friend”. He openly criticizes the media (especially the Wall Street Journal) for the constant negative coverage on Elon. He is highly impressed by Elon’s achievements at SpaceX and thinks that Tesla has a very good product. He seems to sympathize with Tesla’s “product-first” strategy and invested in Tesla because he believes in the product, knowing that the financial numbers do not fully reflect the product’s potential yet.
Below is a transcript of Larry Ellison on Elon Musk:
Oracle’s Financial Analyst Meeting—October 25, 2018
I’m very close friends with Elon Musk and I’m a big investor in Tesla. […] I think Tesla has a lot of upside. Do you know the most popular car by revenue in the United States over the last 3 months? The Tesla Model 3 outsold in revenue – forget about Ford and GM, they were not even close – outsold Honda and Toyota.
I loved all the articles about Elon doesn’t know what he’s doing, the pictures of him smoking dope and the Wall Street Journal writing all these articles. (Beginning to imitate journalists) “He (Elon) is going to have to go out for money. I’m really smart. I work for the Wall Street Journal. I know a lot about writing.” […] “He’s going to have to go out for more money. This is all nonsense…” I (Larry) said: Who are you??? This guy is landing rockets! He’s landing rockets on robot drone rafts in the ocean! And you’re saying he doesn’t know what he’s doing?? Well, who else is landing rockets? You ever land a rocket on a robot drone? Who are you? Okay, you’re telling me he is an idiot. I just want to know who you are. Why should I believe you as opposed to my friend Elon and we’re out here watching this rocket land, which I think is really cool. And you’re there in front of your Apple Macintosh and typing up an article saying Elon is an idiot. (Laughing)
I could have waited in terms of buying a lot of Tesla, until it really shows up in the numbers. Prove it to me. We had dinner at the god damn Tesla factory, I went home, Elon slept there. Go to the Tesla factory, look at the Model 3 line, look at the Model 3, go to the Gigafactory, do all of this stuff, talk to the people. Figure out: Good product, really cool assembly line, Gigafactory, amazing. Are there problems? Yeah, there are huge problems with Panasonic. Because you’re trying to get these batteries to work and your primary cell manufacturer is having problems, you gotta work through that engineering. It’s an engineering project. its hard to get all those pieces together. but if you hit all these pieces together its hard for other people to compete
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