— Facebook cofounder and multi-billionaire Dustin Moskovitz has made some pretty dire predictions for the automaker, accusing it of committing "consumer fraud on a massive scale.", referring to the corporation that went bankrupt in 2001 after it was exposed for one of the biggest accounting frauds in history. "It may keep going, but people are going to jail at the end."
The point of the side-by-side is this: according to Moskovitz, the automaker is wrongly recognizing its deferred revenue — revenue for a product that hasn't been delivered, like an annual subscription fee — as earned revenue through thelast month. This is a sketchy move, Moskovitz claims, because an earlier version of Autopark was already released with FSD years ago, resulting in inflated numbers.
And cooked books or not, some of the automaker's metrics are looking utterly dismal. Its profits fell by a whopping 55 percent, and it sold less cars this quarter than it did in the same period last year.
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Source: futurism - 🏆 85. / 68 Read more »