Devon Thorpe Interview With Paul Elio

[Ekh]

I'd just point out we've been hearing about these mystery sources and multiple paths for over a year now. It would be nice if one of them progressed at all (that could be reported). If anything, the money needed has grown, indicating the mystery sources haven't come through at all. And, the ATVM is a loan. As soon as they start accepting it (it will come in pieces as I understand it, not one lump sum), they have debt they need to service. interest subtracted from the bottom line. I'd think investments would be preferable to debt.

Hopefully the equipment sale comes through and gets things rolling.

Just a quibble, but what the DOE provides is a loan guarantee. That means a lender can make a loan to Elio with zero risk. Terms of whatever the loan is, including repayment schedule, are between EM and the lender to negotiate.

 

[ks6c]

I found the interview to be very positive for what it was, but it was casual to the point of appearing a bit unprofessional, and the technical issues were disappointing. I was coached early in my career to view every conversation with a senior manager as a job interview - same applies here. Paul needs some coaching on where to look, even when he is not speaking - almost seemed uninterested at several points. I was also pleasantly surprised that Mr. Thorpe had as many or more positive points made with his almost-leading questions than either Paul or Ron, and that kind of influential (voice at Forbes) cheerleading can only help! But at times Thorpe was more excited and showed more energy than Mr. Elio.

For me, I heard what I expected to hear and I didn't hear what I didn't expect to hear. I expected to hear comments/updates/motivation for the crowd-funding efforts since that was a major thrust of the interview. Think about it, that is the ground-breaking news for Forbes' primary audience (which isn't just us Elio fans) - first effort of its kind, wildly (so far) successful, allows us commoners access to the potential high returns of startups (that we have NEVER been given before) - all of that is NEWS, with a capital NEWS.

I did not expect to hear details on funding or timing because those are both strategic categories, and 1) no other company would share those details and I don't expect them from Elio, either, and 2) many of the details are still controlled by others, so any answers would be indefinite, and we've seen that only leads to criticism. I thought Paul framed his answer beautifully, though, by saying that what folks really mean when they ask is "when can I get MY Elio?" (don't take my quotes for verbatim).

Elio has been developing this project under a spotlight the entire way. The level of transparency is unprecedented, but that is not to say it is or should be unlimited. Remember, as much as we like Elio, they have competitors and folks/companies that have a vested interest in seeing them fail. We've been taken along on an incredible adventure, with considerable access to what it takes to launch a project of this magnitude, and I'm thankful for that, but I do think there are some critical cards to play that must be kept closer to the vest, so I won't get upset when they're not shared with me.

 

[Ty]

I found the interview to be very positive for what it was, but it was casual to the point of appearing a bit unprofessional, and the technical issues were disappointing. I was coached early in my career to view every conversation with a senior manager as a job interview - same applies here. Paul needs some coaching on where to look, even when he is not speaking - almost seemed uninterested at several points. I was also pleasantly surprised that Mr. Thorpe had as many or more positive points made with his almost-leading questions than either Paul or Ron, and that kind of influential (voice at Forbes) cheerleading can only help! But at times Thorpe was more excited and showed more energy than Mr. Elio.

For me, I heard what I expected to hear and I didn't hear what I didn't expect to hear. I expected to hear comments/updates/motivation for the crowd-funding efforts since that was a major thrust of the interview. Think about it, that is the ground-breaking news for Forbes' primary audience (which isn't just us Elio fans) - first effort of its kind, wildly (so far) successful, allows us commoners access to the potential high returns of startups (that we have NEVER been given before) - all of that is NEWS, with a capital NEWS.

I did not expect to hear details on funding or timing because those are both strategic categories, and 1) no other company would share those details and I don't expect them from Elio, either, and 2) many of the details are still controlled by others, so any answers would be indefinite, and we've seen that only leads to criticism. I thought Paul framed his answer beautifully, though, by saying that what folks really mean when they ask is "when can I get MY Elio?" (don't take my quotes for verbatim).

Elio has been developing this project under a spotlight the entire way. The level of transparency is unprecedented, but that is not to say it is or should be unlimited. Remember, as much as we like Elio, they have competitors and folks/companies that have a vested interest in seeing them fail. We've been taken along on an incredible adventure, with considerable access to what it takes to launch a project of this magnitude, and I'm thankful for that, but I do think there are some critical cards to play that must be kept closer to the vest, so I won't get upset when they're not shared with me.

Well said though I've heard the "they have competitors and folks/companies that have a vested interest in seeing them fail" line a few times. I've tried racking my brain and other than maybe car companies who think the Elio will steal some of their sales, I can't picture anyone who would benefit from their failure. ALL parts manufacturers would see a benefit if Elio succeeds whether or not they are supplying them. Supply and demand says that if there is more demand for parts, the price will rise on all other parts. I suppose that could be a reason another auto manufacturer would want Elio to fail but I don't see a price rise of parts. What I DO see is there suddenly being more jobs being created to build the parts and more profit being made by companies involved.

"Big Oil"? I doubt they'd be against another gas burner even if it does burn less fuel. The likely customer isn't the Humvee buyer but rather the Prius shopper, bus riders, and people who otherwise would find another way around.

The "Big 3"? They may not like the dealership model Elio is going after as it sets precedence but I would be willing to bet that Ford hopes Elio can earn carbon credits so they can save a few bucks in fines. There is no way any manufacturer that makes a lot of trucks will hit Federal MPG requirements.

I'm sure there are a couple of loony's out there who want Elio to fail just so they can say "I told you so" but those people can just go suck an egg.

 

[Jeff Porter]

I've listened to the interview a couple of times. I never heard the words "IF LAUNCHED" at all. The link is below:

http://www.forbes.com/sites/devinth...motors-tests-the-waters-and-finds-27-million/

Paul's exact words (minus um's and ah's) were "We were looking for capital, we've been successful in the rewards crowdfunding already. We have over 44,000 reservations, that's $290 million worth of product reserved. I'm pretty confident that's a record. When we found out about reg A+, it just seemed like a natural fit for who we are, what our DNA is. So we took advantage of it on day 1. We came out and tested the waters on Jun 19 which is the first day you can test the waters. It turns out the water's warm. We had a $25 million target, we're at $27 milllion plus today and counting. We're continuing to take reservations on startengine.com and we're stepping through the process."

On the subject of the $200 million, his comment is that there are 3 independent redundant sources of investment, ATVM being one of those at $186 million. He said "We have a couple other strategies that are very credible and likely but they are strategic so I do not want to share them. We have 3 redundant paths that are independent. Because something that important you don't want to bet the whole farm on ATVM."

All in all, sounded pretty positive to me. My guess is legally he cannot say anything more about those other 2 sources.

Meaning this sincerely Art, a big thank you for the exact quotes and wording, I will be referencing your post (#31) often in the coming days.

 

[Art Vandalay]

Meaning this sincerely Art, a big thank you for the exact quotes and wording, I will be referencing your post (#31) often in the coming days.

Thanks Jeff. And no offense to those on the post that are reading between lines. This is after all a discussion group. Just wanted to clarify what was actually said vs. what could be inferred from the presentation.

 

[John Painter]

I found the interview to be very positive for what it was, but it was casual to the point of appearing a bit unprofessional, and the technical issues were disappointing. I was coached early in my career to view every conversation with a senior manager as a job interview - same applies here. Paul needs some coaching on where to look, even when he is not speaking - almost seemed uninterested at several points. I was also pleasantly surprised that Mr. Thorpe had as many or more positive points made with his almost-leading questions than either Paul or Ron, and that kind of influential (voice at Forbes) cheerleading can only help! But at times Thorpe was more excited and showed more energy than Mr. Elio.

For me, I heard what I expected to hear and I didn't hear what I didn't expect to hear. I expected to hear comments/updates/motivation for the crowd-funding efforts since that was a major thrust of the interview. Think about it, that is the ground-breaking news for Forbes' primary audience (which isn't just us Elio fans) - first effort of its kind, wildly (so far) successful, allows us commoners access to the potential high returns of startups (that we have NEVER been given before) - all of that is NEWS, with a capital NEWS.

I did not expect to hear details on funding or timing because those are both strategic categories, and 1) no other company would share those details and I don't expect them from Elio, either, and 2) many of the details are still controlled by others, so any answers would be indefinite, and we've seen that only leads to criticism. I thought Paul framed his answer beautifully, though, by saying that what folks really mean when they ask is "when can I get MY Elio?" (don't take my quotes for verbatim).

Elio has been developing this project under a spotlight the entire way. The level of transparency is unprecedented, but that is not to say it is or should be unlimited. Remember, as much as we like Elio, they have competitors and folks/companies that have a vested interest in seeing them fail. We've been taken along on an incredible adventure, with considerable access to what it takes to launch a project of this magnitude, and I'm thankful for that, but I do think there are some critical cards to play that must be kept closer to the vest, so I won't get upset when they're not shared with me.

If PE isn't totally strung out at this point trying to get his company off the ground (as evidenced by chugging those Venti and looking like Rocky at the end of the 15th round - "Adriannnnn") I don't know who would be.

 

[Bert]

I believe the true benefit of this interview will become apparent when it's replayed by those who were not there "live". Another avenue to get the word out there!

 

[ks6c]

Well said though I've heard the "they have competitors and folks/companies that have a vested interest in seeing them fail" line a few times. I've tried racking my brain and other than maybe car companies who think the Elio will steal some of their sales, I can't picture anyone who would benefit from their failure. ALL parts manufacturers would see a benefit if Elio succeeds whether or not they are supplying them. Supply and demand says that if there is more demand for parts, the price will rise on all other parts. I suppose that could be a reason another auto manufacturer would want Elio to fail but I don't see a price rise of parts. What I DO see is there suddenly being more jobs being created to build the parts and more profit being made by companies involved.

"Big Oil"? I doubt they'd be against another gas burner even if it does burn less fuel. The likely customer isn't the Humvee buyer but rather the Prius shopper, bus riders, and people who otherwise would find another way around.

The "Big 3"? They may not like the dealership model Elio is going after as it sets precedence but I would be willing to bet that Ford hopes Elio can earn carbon credits so they can save a few bucks in fines. There is no way any manufacturer that makes a lot of trucks will hit Federal MPG requirements.

I'm sure there are a couple of loony's out there who want Elio to fail just so they can say "I told you so" but those people can just go suck an egg.

I'd add a couple other potential competitors, but not necessarily competitors in the typical sense:

Dealer Associations who are, after all, behind all State laws requiring cars be sold through franchised dealerships. Dealers fought back hard when the industry restructuring came along and many - like the Chrysler dealer down the street - successfully prevented their money-draining dealerships from being closed. Total company health be damned. A successful Elio is a bigger threat than these yahoos have ever faced, because it wouldn't be long before the Big 3 ask State legislators to take the handcuffs off them.

VCs and other big money players who don't want crowd-funding to be successful. Cheap money being given away for pieces of paper rather than controlling interests strikes at their very core, and their entire raison-d'être.

Motorcycle companies (disclaimer: I ride a Harley) who see this as an alternative for older buyers hitting their second childhood.

I'm sure I could think of a few more if I put my mind to it, I guess my point is I think Elio's competition might likely come from way out in left field.

 

[ks6c]

If PE isn't totally strung out at this point trying to get his company off the ground (as evidenced by chugging those Venti and looking like Rocky at the end of the 15th round - "Adriannnnn") I don't know who would be.

I know, I agree, and I sympathize - but it doesn't change the impressions he left...

 

[Ekh]

If PE isn't totally strung out at this point trying to get his company off the ground (as evidenced by chugging those Venti and looking like Rocky at the end of the 15th round - "Adriannnnn") I don't know who would be.

He owns a lot of Starbucks stock -- or should!