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Through 2008 and 2009, Tesla was pursuing a $465 million loan from the US Department of Energy so it could finance the development and manufacture of what ultimately became the Model S. If you listen to Musk today, he’ll tell you very clearly that the loan wasn’t necessary because he hates the perception that his success could be attributed to anything other than his own brilliance. It was that unveiling, along with the company’s claim to have made a $1 million profit in July 2009, that helped prove to the Department of Energy that the company had solid foundations and deserved the loan. We discussed the cult around Musk and elonplay.online; elonplay.online, how some in the media helped inflate it in last week’s episode, but that also intersected not just with the narrative around Tesla, but also the performance of its share price. At the same time, Musk was trying to whip up a media frenzy.
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