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Tesla Daily: Tesla News & Analysis

$137M Lawsuit, Rivian Files For IPO, Tesla's Debt, Giga Berlin (10.05.21)

Tesla Daily: Tesla News & Analysis

Rob Maurer

Tsla, Model3, Technology, News, Tesla, Investing, Tech News, Modely, Business, Models, Modelx

4.81.1K Ratings

🗓️ 6 October 2021

⏱️ 16 minutes

🧾️ Download transcript

Summary

➤ A jury has ruled against Tesla in a $137 million discrimination lawsuit
➤ Rivian files S1 ahead of initial public offering, revealing new business details
➤ Discussion on Tesla’s debt position
➤ Giga Berlin planned for supplier colocation
➤ Tesla opens shareholder meeting submission process (https://bit.ly/3afdClm)

Plaid producer Who Why
Executive producer Jeremy Cooke
Executive producer Troy Cherasaro
Executive producer Andre/Maria Kent
Executive producer Jessie Chimni
Executive producer Jeffrey Yu
Executive producer Michael Pastrone
Executive producer Richard Del Maestro
Executive producer John Beans
Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock & derivatives

Transcript

Click on a timestamp to play from that location

0:00.0

Hey everybody, we're on an hour here, and today we're going to be talking about a jury

0:10.7

verdict against Tesla in a discrimination lawsuit.

0:13.7

Then a couple days back, we did get Rivians S1 filing as they prepare for their initial

0:18.0

public offering.

0:19.0

We'll talk about the details included in that filing, and then we've just got a couple

0:22.3

of quick notes on Tesla's debt and Gigaburlin.

0:26.1

Quick look at the stock, kind of the opposite situation of what we had yesterday to open

0:29.3

the week, Tesla today actually finishing down, only slightly one tenth of a percent,

0:33.6

to $780.59, but that was in an up macro environment, the S&P Dow, and NASDAQ all finishing

0:40.0

up, the NASDAQ the best of those three, up 1.25%.

0:44.4

So the prominent news around Tesla today is a decision made in a lawsuit brought against

0:48.4

the company by a former contractor of the company, ONDS, who claims that he was subject

0:53.1

to a racially hostile work environment during his time working with Tesla, and because

0:57.3

this was a contractor instead of arbitration, which would be used with an employee this

1:00.8

did end up going all the way to a jury trial, the jury has come to a decision, and has ruled

1:05.3

in favor of the plaintiff DS for $137 million in damages.

1:11.4

A clinical professor of law at Berkeley Law told Bloomberg that, quote, I believe that's

1:15.7

the largest verdict in an individual race discrimination employment case, class actions

1:20.0

are of course in a different category, end quote, obviously without being in the courtroom

1:24.0

we can't really get the full story from both sides, but DS's claims seem to center

1:28.4

around the pervasive use of racially charged language, as well as offensive graffiti, seemingly

1:34.2

targeted at DS, who claims to have questioned at least those drawings to a supervisor and

...

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