Elon Musk's cousins who sold their solar company to Tesla

SolarCity introduced a product in 2008 that allowed residential customers to lease their rooftop solar installation rather than purchase it up-front.

In exchange, customers agreed to pay for 20 years for the power generated by those panels.

This quickly became the dominant rooftop solar business model, and SolarCity grew into the largest residential solar installer.

However, it caused SolarCity to have over $1.5 billion in debt by the time Tesla acquired it in 2016.

Lyndon and Peter both left Tesla in 2017 to go their own ways. Peter currently serves on the board of SolarCycle, a solar panel recycling firm.
So they built a business model, built around massive leveraging of debt and needing infinite growth. Manage to convince Elon that their company should be valued the same way Elon's companies are.

And people say Musk is a smart businessman. It's all built and dragging along on the massive overvaluation of Tesla stock.
 
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They look like two hostages in the middle-east..

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  • Haha
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