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'This is Enron:' Facebook and Asana co-founder accuses Tesla of 'massive' fraud

Published 26/04/2024, 20:24
© Reuters

Dustin Moskovitz, co-founder of Facebook and Asana, accused Tesla (NASDAQ:TSLA) of “massive fraud” in a Thursday post on Threads.

The billionaire entrepreneur compared Tesla to Enron, the energy and commodity company that was bankrupted in 2001 following one of the biggest accounting frauds in history.

“I know I sound crazy to most people who don't follow $TSLA closely but at this point it really needs to be said. This is Enron now, folks,” Moskovitz wrote in a post, referring to a graph generated by Tesla AI, celebrating 1 billion miles for its autonomous driving solution FSD.

“It may keep going, but people are going to jail at the end. The data is presented in fraudulent ways, and it doesn't say what they claim it says even when they make it up.”

“Tesla has committed consumer fraud on a massive scale, from lying about FSD, ranges, and (recently, unconfirmed!) even inflating odometers,” Moskovitz continued. “Many times now, also securities fraud.”

In a separate post, Moskovitz raised concerns and suspicions about the accuracy and transparency of Tesla's reporting related to its FSD technology.

Specifically, he pointed out that Tesla's updated investor graph is vague about specific dates in March 2024, which raises questions about the timing of the inflection point in the graph relative to a milestone of achieving 1 billion miles driven with FSD.

“The new graph is humorously ambiguous wrt dates. Is "March 2024" the 1st? The 31st? Why is the inflection *after* the 1B miles milestone in the new graph?” he said.

Moskovitz highlighted that the free FSD trial started on March 25, and “incidentally it ends just after we get to see the cumulative FSD update, how strange,” he noted.

His remarks imply a potential manipulation of usage stats to artificially boost the data, making FSD adoption appear more rapid.

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