The details have leaked on why VC firm Kleiner Perkins Caufield & Byers opted to invest in...


The details have leaked on why VC firm Kleiner Perkins Caufield & Byers opted to invest in Fisker Automotive instead of Tesla Motors (TSLA) and they don't paint a pretty picture. According to Businessweek, Kleiner partner Ray Lane wanted a spot on the Tesla board to go along with a hefty early round investment but opted to push his firm to back bankrupt-bound Fisker after Elon Musk demurred. Ouch.

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Comments (17)
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    A porky pig said http://bit.ly/13fxE3W
    25 Jul 2013, 09:24 AM Reply Like
  • oldpartsnrust
    , contributor
    Comments (286) | Send Message
     
    I guess Elon was correct to demur appointing a spiteful board member?
    25 Jul 2013, 09:33 AM Reply Like
  • Tricky
    , contributor
    Comments (2429) | Send Message
     
    GigaOM reported this months ago
    25 Jul 2013, 09:33 AM Reply Like
  • markwbrooks
    , contributor
    Comments (143) | Send Message
     
    So he put a $50,000 directors bonus plus perks in front of his clients best interests? It cant be that simple ... can it?
    25 Jul 2013, 09:35 AM Reply Like
  • Esekla
    , contributor
    Comments (4455) | Send Message
     
    Yes, in my experience it certainly can. Inefficient markets are the natural product of debt-based economy and fiat currency.
    25 Jul 2013, 10:12 AM Reply Like
  • nildram
    , contributor
    Comments (2) | Send Message
     
    I take it you're a bitcoiner then?
    25 Jul 2013, 12:34 PM Reply Like
  • joenjensen
    , contributor
    Comments (701) | Send Message
     
    I think that Mr. Elon Musk knows who to trust and we don't, but I do know it's much more quiet in here right now, no shorters they must have gone over to Netflix, LOL.
    25 Jul 2013, 10:12 AM Reply Like
  • Joe Dirnfeld
    , contributor
    Comments (1124) | Send Message
     
    Elon knows best , he is our man.
    25 Jul 2013, 10:24 AM Reply Like
  • deanis15
    , contributor
    Comment (1) | Send Message
     
    Elon has spoken about this before. He had two options for funding - Kleiner or Vantage Point VP. Kleiner gave him a $50 mm valuation while Vantage's term sheet was for $70 mm. He said to Kleiner that if John Doer would be on the board, he would take their cash. Since that wasn't going to happen he went with the higher valuation term sheet. Which he mentioned he would speak more in depth about later. I guess Vantage Point and Tesla do not / did not have a good relationship
    25 Jul 2013, 10:27 AM Reply Like
  • Forgot
    , contributor
    Comments (5) | Send Message
     
    Elon is The Mans Man
    25 Jul 2013, 11:27 AM Reply Like
  • juicejack
    , contributor
    Comments (88) | Send Message
     
    Are the shorts in such a bunch that they'll resort to information that is both old AND irrelevant (as well as unsubstantiated) in order to drive the stock price down?

     

    How's that working?
    25 Jul 2013, 12:12 PM Reply Like
  • Tricky
    , contributor
    Comments (2429) | Send Message
     
    ??

     

    Both the SA Market Current and Bloomberg article are about KPCG missing out on a great investment (TSLA) and putting it into a bad one (Fisker) because of Ray Lane.

     

    Not sure how this would "drive the stock price [I assume of TSLA] down"?
    25 Jul 2013, 12:29 PM Reply Like
  • Cassina Tarsia
    , contributor
    Comments (662) | Send Message
     
    Well, it looks like Ray Lane got what he earned ... a spot on Fisker! Elon is obviously beyond bribes, which is why everything works with him. He won't lower himself to that level. What a breath of fresh air!
    25 Jul 2013, 01:19 PM Reply Like
  • anderlan
    , contributor
    Comments (13) | Send Message
     
    A CEO of a young company obsessed about maintaining control at least until they get off the ground? If you have a strong vision, that happens. And if you don't have a strong vision, the company's probably not going anywhere.
    25 Jul 2013, 01:21 PM Reply Like
  • Alexander-the-Great
    , contributor
    Comments (36) | Send Message
     
    Elon was correct in not going with Kliener. I have meet Elon in Austin back in April. Elon is a little wary and careful. You want that in a CEO. When I first met Elon, he was wary of me too. I am just an investor in his company. This is another example of Elon being one of those great CEO's that nobody factors into the valuation of Tesla Motors.

     

    Good job Elon.
    25 Jul 2013, 01:24 PM Reply Like
  • losbronces
    , contributor
    Comments (990) | Send Message
     
    You think that he is not factored into the stock price? I would argue that TSLA would not have its current valuation without Elon Musk.
    26 Jul 2013, 11:25 AM Reply Like
  • jfsacal
    , contributor
    Comments (852) | Send Message
     
    A little wary? I prefer the self description by Gordon Moore - PARANOID. But it seems that a little wary is working out OK so far.
    25 Jul 2013, 08:06 PM Reply Like
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