Borrow $240 Mil, Or Borrow Alot Less And Start Out Slow?

[John Painter]

I don't know what's wrong with starting small - didn't Ford Motor Company (and all the other big auto companies) start small?

Apple started small, with big ideas, same with Microsoft and Facebook

Depending on what you consider small. Jobs from what I know from his book, also pre-sold about 50 of the computers Woz designed, and he didn't have any parts or money when he took the order for them. In today's dollars he sold about $100,000 worth of computers that hadn't been built. He just had really, really big b@lls. Many people were skeptical since IBM was already making computers (expensive ones) and many didn't think a low cost computer with just half the parts was doable or particularly desirable - if Big Blue wasn't doing it then it's probably not worthwhile. Sounds vaguely familiar? I do think Jobs, Gates and Zukerberg had something I'm not sure Elio has - timing. Time will tell.

 

[Smitty901]

No one will loan money to ELIO right now. There maybe people willing to invest and that is a form of a loan. But for PE to walk into a bank or title loan company and ask for any amount of money he would be shown the door.
ELIO's only hope of raising cash will be investors looking for a reward after taking a risk. The sugar daddy that just wants to hand his money out is not going to show up.

 

[John Painter]

No one will loan money to ELIO right now. There maybe people willing to invest and that is a form of a loan. But for PE to walk into a bank or title loan company and ask for any amount of money he would be shown the door.
ELIO's only hope of raising cash will be investors looking for a reward after taking a risk. The sugar daddy that just wants to hand his money out is not going to show up.

No one would loan Steve Jobs a dime early on either, seriously, they had $0 and just a "promise" that they had pre-sales, they didn't even have anyone put money down. Took them about a decade before they got some real money to work with. Turned out ok.

 

[NSTG8R]

No one would loan Steve Jobs a dime early on either, seriously, they had $0 and just a "promise" that they had pre-sales, they didn't even have anyone put money down. Took them about a decade before they got some real money to work with. Turned out ok.

Plus it was the '70's, everyone was smoking weed [and whatnot]. My older brother's one of the "original" computer geeks. Makes BIG BUCKs from his home as a contractor for a well-known company...I should have played more video games.


Edit: Yeah....that didn't make any sense. Nevermind.

 

[RUCRAYZE]

No one would loan Steve Jobs a dime early on either, seriously, they had $0 and just a "promise" that they had pre-sales, they didn't even have anyone put money down. Took them about a decade before they got some real money to work with. Turned out ok.

Steve didn't need a dime, his allowance covered their "start-up" They didn't have paid staff, nor an Office in AZ.,, a factory, development cash,a promise to employ 1500 folks, a board of directors, traveling showcase etc.- to the plus, neither promised yellow!

 

[Smitty901]

The Elio story has nothing in common with the explosion of the computer market. They have nothing in common.

 

[jetpack54]

No one would loan Steve Jobs a dime early on either, seriously, they had $0 and just a "promise" that they had pre-sales, they didn't even have anyone put money down. Took them about a decade before they got some real money to work with. Turned out ok.

Well John, it may well be the case here with EM- expect your very first ELIO 10 years from now, if not more! In the FIRST EVER AUTO SHOW PRESS EVENT IN NYC, dated April 7, 2015- PE said "He believes we have a shot at going as high as 250,000 reservations BEFORE ELIO STARTS PRODUCTION". It took about what, 2 years starting 2013 to reach 40,000 reservations? We all love PE but he's one hell of an optimist! Ok, let's just say you're willing to wait that long, please tell me you don't really think that the $6,800 base price will still be relevant, do you? Also, it mentioned in that report that "while the Department said it hoped to re launch the program (ATVM), it hinted the loan would go ONLY TO AUTO INDUSTRY SUPPLIERS, not the automakers itself". So EM maybe waiting for nothing here regarding the ATVM loan although PE said that it's still on top of their list of funding resource. All I know is our current very high mileage, very old cars may not last that long to wait for ELIO as their replacement!

 

[WilliamH]

Well John, it may well be the case here with EM- expect your very first ELIO 10 years from now, if not more! In the FIRST EVER AUTO SHOW PRESS EVENT IN NYC, dated April 7, 2015- PE said "He believes we have a shot at going as high as 250,000 reservations BEFORE ELIO STARTS PRODUCTION". It took about what, 2 years starting 2013 to reach 40,000 reservations? We all love PE but he's one hell of an optimist! Ok, let's just say you're willing to wait that long, please tell me you don't really think that the $6,800 base price will still be relevant, do you? Also, it mentioned in that report that "while the Department said it hoped to re launch the program (ATVM), it hinted the loan would go ONLY TO AUTO INDUSTRY SUPPLIERS, not the automakers itself". So EM maybe waiting for nothing here regarding the ATVM loan although PE said that it's still on top of their list of funding resource. All I know is our current very high mileage, very old cars may not last that long to wait for ELIO as their replacement!

Who knows...........
Maybe the next administration may no be so dead set against hydrocarbon based fuels.
Maybe they will tap the true potential of dilithium crystals.
Maybe we'll all be driving X34 "landspeeders"

 

[RUCRAYZE]

Who knows...........
Maybe the next administration may no be so dead set against hydrocarbon based fuels.
Maybe they will tap the true potential of dilithium crystals.

OTFLMFAO!!

 

[John Painter]

Well John, it may well be the case here with EM- expect your very first ELIO 10 years from now, if not more! In the FIRST EVER AUTO SHOW PRESS EVENT IN NYC, dated April 7, 2015- PE said "He believes we have a shot at going as high as 250,000 reservations BEFORE ELIO STARTS PRODUCTION". It took about what, 2 years starting 2013 to reach 40,000 reservations? We all love PE but he's one hell of an optimist! Ok, let's just say you're willing to wait that long, please tell me you don't really think that the $6,800 base price will still be relevant, do you? Also, it mentioned in that report that "while the Department said it hoped to re launch the program (ATVM), it hinted the loan would go ONLY TO AUTO INDUSTRY SUPPLIERS, not the automakers itself". So EM maybe waiting for nothing here regarding the ATVM loan although PE said that it's still on top of their list of funding resource. All I know is our current very high mileage, very old cars may not last that long to wait for ELIO as their replacement!

A CEO making an outrageous statement? What next. No I don't actually think the $6,800 will still be relevant, I'm actually thinking the price might drop like other consumer goods. I think we got this stuff nailed bro!