My favorite scandals are always corporate frauds like Theranos or Nikola.
Stumbled upon a new one.
Basically, there is a solid-state battery start-up called QuantumScape which went public via an SPAC last year (SPACs are a slightly shady way of going public; it involves a blank-check company....some people think there will be a reckoning in the market soon with a recent deluge of possibly sh*tty companies entering the markets this way). My understanding (gleaned from the article) is if they were able to achieve solid-state batteries it would basically be a huge leap forward in battery technology with extended charges, fast charging. (Please feel free to correct me, I'm not an engineer). An article from June describes the technology and its potential and mentions the company hit a valuation greater than Ford in December 2020. It has since plummeted.
A hedgefund called Scorpion released a presentation basically accusing the company of being a pump and dump scheme. They say the CEO kept going on CNBC to pump his stock so that it wouldn't fall before the lock-up period ended (ie, he isn't allowed to sell his shares right after they first go public, so he needs the stock price to stay high until he can cash out).
The presentation: https://scorpioncapital.s3.us-east-2.amazonaws.com/reports/QS1.pdf
It's a bit dry but there are some hilarious quotes from former employees at the beginning.
Meme stock r-slurs who have seen the stock go from a peak of around $131 to $21 today are absolutely livid about the report: https://old.reddit.com/r/QuantumScape/comments/mrhtxc/scorpion_capital_is_fake_news/
There is also this subreddit as well: https://old.reddit.com/r/QUANTUMSCAPE_Stock/ featuring cope such as this: https://old.reddit.com/r/QUANTUMSCAPE_Stock/comments/pawsg8/patience_will_let_us_win_this_game_and_get_huge/
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Advancements like what the company promised are huge. Right now, in the energy space, it is a lot less about creating energy, and more about storing energy, especially when it comes to grid technologies. Between Hydro, wind, and to a lesser degree, solar, we generally have everything covered. The problem lies with demand: Most of the time, demand is less than supply, so surplus supply is simply wasted. If we had an efficient way to store this excess, when peak demand is met, we could draw from this stored energy, rather than less optimal measures, such as rolling outages, which happens in some areas.
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The virgin "advanced battery technology" vs the "Chad Reservoir"
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Awww yes, the good old method of using excess energy to pump water up hill, and then when demand exceeds supply, allow the water to flow back down, utilizing gravity to convert the potential energy into kinetic energy.
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Batteries
Lake Chad
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Put the Adderall down, sir
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IβM ON A ROLL TODAY
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pumped storage is the shit.
only power storage you can increase with a backho
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Isn't there a dune in Michigan that does this? Any why doesn't every town have gigantic sand dunes next to immense lakes?
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Nobody is going to store surplus energy in Li-whatever batteries, they cost way too much. All plausible solutions to that problem look like pumping water up the Hoover Dam because you can store energy in a million tons of water without having to make all that water from rare earth elements.
What they are trying to do is to improve the dismal energy density ratios between gasoline and batteries in power-hungry applications such as cars. Check out https://en.wikipedia.org/wiki/Energy_density: Gasoline: 46.4 MJ/kg, Lithium-ion battery 0.36β0.875 MJ/kg. Improving that value is not a global game changer but it would have improved things a lot, which it wouldn't because I trust
@FrozenChosen's feminine skill of detecting an LVM trying to fake it till he makes it (which is never).
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tesla powerwall does exactly that, and it's just as r-slurred as you can imagine.
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Shut up nerd
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Really funny I'm seeing this here.
I'm currently down ~$10k on long puts on this piece of shit. They expire in January but I'm likely going to cut losses soon.
For those of you who don't do stocks, I have an open short position because I expected this company to absolutely tank following the previous ER. They ended up reporting...nothing of value, and the price shot up ~20% in 2 days anyway. The shitco market has been r-slurred since the lockdowns started, and even more r-slurred since the GME debacle, but I r-slurredly tried shorting this anyway.
It's a blatantly obvious scam, the tech is completely infeasible and they make dubious claims without any evidence backing it up; unfortunately for me people are still placing bids on it and won't just let it die. My only remaining hope is they raise funds through another share dilution soon, but I'm probably fricked.
tl;dr It doesn't matter how obvious the scam is, taking short positions is mentally r-slurred these days. Learn from my mistakes, $QS will probably be $100 next month.
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That's great and all, but I asked for my burger without cheese.
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rofl
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credit to WSB, about a year ago i saw people break when they realized that stocks just only fricking go up. a lot of the effortposters that actually knew what the acronyms meant just basically fricked off. people kinda rallied for gamestonk, but then the big boys got annoyed and fricking destroyed everything involved. there's an effortpost on that entire fiasco i might write someday i guess, interest in nerd drama seems to be at a low lately. trains are hard job but sheesh there are other subjects.
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value investing is no longer a thing. we live in an age where dead, indebted companies with poor fundamentals and obvious scams outperform the rest of the market by several figures. the only way to beat the game is by playing it.
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That's what you get when you short a market drugged by free money. Nikola is worth 3.9 billion dollars in this very moment and they were pushing trucks down cliffs to demonstrate their revolutionary hydrogen technology.
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Yes, I'm sure something every EV and half of the semiconductor manufacturers in existence have been working on forever was solved by a cagey startup that VW says is a "black box technology."
Almost 100% of black box tech is fudged at best and patently false at worse.
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I studied electrical engineering (autism), and I was warning r-slurs in those subs that it was a scam, but they're all way too high on copium. If solid state batteries get invented, it's going to be in a university lab that has had endless money dumped into it by DARPA.
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EEs just end up programming anyway, but at least you can make your own Arduino projects.
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I've managed to lose my last Arduino project and I'm pissed about it, I had it set up to take commands from a IR remote and send them to my computer.
Now I have to use a mouse and key board like a gaymer
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Man was halfway to inventing the Wii!
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Lol I just needed to find a use for old TV remotes. The TVs they went too have long since broken and been thrownaway but I'll be darned if Imma throw away a perfectly good IR remote
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what's the highest RPM you've gotten in factorio?
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This is true. All the best EEs I know can program better than most CS code monkeys
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Unless they went into software engineering jobs within a few years of graduation, EEs probably aren't going to be familiar with all the nitpicky design bullshit that goes into software engineering.
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You're probably correct. I don't stay up to date on any of it. I choose the more fun r-slur route and get paid to jump out of planes, shoot guns, and stitch people up
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That's not the r-slur route. That sounds like hella fun. Are you able to leverage your EE knowledge in the field?
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High-IQcel. What kind of work do you do, if I might ask? You can just say the general field if you're paranoid.
(genuinely curious about this though)
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Lmao you'd never guess. I'm basically fancy Army infantry with a higher security clearance who teaches third worlders how to fight. Trained in combat medicine too, so I'm just all over the place. I rarely use my degree, but it comes in handy sometimes with helping to unfrick comms
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If you're actually a Green Beret then this is a massive understatement.
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Natty Guard 18D, and it's really not that much of an understatement. You really just have to be stubborn enough to put up with the suck and be marginally more intelligent than most infantrymen. Unfortunately a lot of SF's current deployments could be done by less qualified people. Quality is really ODA dependent too. I definitely occasionally encounter r-slurs that make you wonder how they got through selection and the Q.
But as an anonymous account you of course don't know if I'm just larping, and I comment too much shit that would kill my security clearance on here to post proof
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Did you see the part in the report where that company did the trick where they make a super fricking small battery to get unreasonably high efficiency per volume? Pretty funny stuff.
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I did. It's very crafty from a business perspective, but dumbass shit like this sets back investment in less r-slurred companies that might actually create something useful. That said venture capitalists are half r-slurred and throw money at anything with enough technical buzzwords
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Never trusted a black box, that's why I don't have s*x with black women
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NTA
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More for me
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more stickies is exactly what we need
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Buck. Why are my slaves sticky!?
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Now go and clean them up
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Looks like the wall street will get around a thousand new ritual sacrifices in suicides soon lmao.
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How long till he an heros?
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SPACs remind me of those vaporware ICOs from 2016-2017 except now it's happening on the big boy stock market. Surely nothing bad can come of this.
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Dear Sub-Human Filth,
I'm appealing to all of you stupid idiots to vote Democrat in 2020. That is if you have the basic education enough to read a ballot, anyway. I understand the majority of you racist rednecks can't even read this post, though. But those who can, please pass my message on to the rest of your inbred family.
We Democrats are morally, culturally and intellectually superior to you in every way. I will qualify myself by noting that I have a Liberal Arts degree from a college, which you obviously have never been to, if you even know what one is. I also have a black friend. I have been told by several professors that everything you hold dear is terrible. Therefore you, personally, are also terrible.
I don't know you, but I know that you're racist. I also know that you hate gay people and still get scared during lightning storms.
The religion which you hold closely, greatly believe in, and which brings you comfort--you are wrong because I'm smarter than you and I'm telling you so. It is one of the many reasons why you are stupid and I'm better than you.
You see, us Democrats want a system which helps everyone in the world. Our system is designed around love and kindness to everyone. If you don't agree, I hate you.
It's not too late to change. If you knew your history, which of course you don't, you'll remember a time in America when Indians were dragged away from their homes and forced to assimilate into white society. Well, we want to change that kind of behaviour (sorry for my spelling, as I'm not from your country) by making sure you go to college and have a small apartment in a big, busy coastal city, where you belong. That will help you rid yourselves of your backward, incorrect culture and way of thinking. We'll do everything we can to make sure you agree with us and say all the right things and not be brainwashed against thinking the same way we do. All of you stupid, backward, redneck, racist, homophobic, uneducated yokels need to realize we're trying to build a classless society where we all get to live in harmony with each other, where we're all equal. If you only understood that you wouldn't be so much worse of a person than I am.
So please vote Democrat. Help me help you, you worthless motherlovers.
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I love this classic.
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Can I get text on Wall Street Journal?
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Hey just FYI if you ever want to read a wsj article behind a paywall, just copy the article name and google it. Clicking through google will show you the whole article for free π
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For all the GMEshitters out here, this is the function that shorting provides to the economy. It is stabilizing to have a mechanism to punish bad companies and alerts people to possible fraud/failing corporations.
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They are so r-slurred to think shorting alone can harm a company, too. Tell that to Greenlight Capital post-Tesla short.
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