CEO of struggling EV startup SPENDS DOUBLE its revenue on PRIVATE JET!! | MGUY Australia
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- เผยแพร่เมื่อ 5 เม.ย. 2024
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Seriously you can't make this stuff up...!
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I don't know about anyone else, but I am getting sick and tired of these so-called righteous people telling people how to live what to eat, what to drive, and what or how to talk.
Here Here!!
Me too. That's why I vote Republican all down the ballot. Less Federal government is always better.
@@knewhunter1 Don't vote for a RINO, they are the worst. If you can identify the RINO vote independent, libertarian or write in.
@@knewhunter1 It's all the same party.
Yup, and that's just one reason why I don't feel even a little bad about driving an old Corvette ZR1 and an even older 911 hotrod without CATS. No matter how much I drive those two cars in my lifetime, I'll never come close to touching the amount of polution that the "righteous people" produce in just a single year of do-gooding.
EVs, green energy, anything but green, except for the green lining the pockets of these scammers.
The GREEN is the color of the cash in their pockets…
They give the cash to musk Chrysler just paid millions to his company because he makes ev bum heaters
i wish all the electric car companies would go like this one then we would not worry but only laugh except the people who lost money.
when I hear green energy I think about radiactive things that lights up green in the dark.
The hypocrisy of the ev people just blows the mind.
@@kamilhorvat8290 PRECISELY WHY MOST LIKE VW who were so quick to jump on ELECTRIC are spending more than they can sell😂 #facts
EV PEOPLE????? Chip on shoulder much?
Eating Filet Mignon at the WEF banquet while telling the rest of us to eat bugs.
Holding climate conferences at private jet airports because that's the only way they can fit all the hundreds of private jets in.
Yep, full on Hypocrisy.
Nothing about EVs is about the environment. The movement is about buying salvation.
Agreed, and never mind the fact that salvation is NOT for sale!
@@edb3877Selling indulgences is a time honoured church tradition
And ultimately…. PROFIT
Evs are nothing to do with the environment but are all about CONTROL. Control of the peasantry. Stop them moving around, lock them in their 15 minute ghettoes and they can be more easily controlled.
If it's about the environment..we have engines running on seed oil and plant based ethanol for decades now.
Carbon neutral, no oil money for dirty nations. And cheap.
Mining for EV minerals is far more environmentally destructive than private jets.
Hear hear. You are correct. I've been bashing on about this for years.
Both are environmentally destructive - that's the point!
The oil industry is far, far more environmentally destructive than lithium mining. Just two events, Exon Valdese and Deepwater Horizon, by thenselves, top anything by tge lithium industry combined. But fact don't matter much to Fox News watching mouthbreathers.
private jets require the same minerals as EVs
@@albinvega7008 No they don't. Private jets require petroleum. EVs require strip mining tons of lithium, cobalt, and other minerals. There's no petroleum involved. The environmental impact of the strip mines is devastating.
The flip side of the virtue signaling industry is the grift industry - two sides of the same coin. And both are growing at unbelievable speed.
Why not buy a jet, the government subsidies every EV
Take away the subsidies and the production of EVs would collapse
It’s like ethanol fuel, it costs more to make vs what they sell it for. The Obama government passed a bill to subsidize every drop they make just to push their agenda.
It’s a sick joke. I’m glad I’m not dumb enough to fall for EV I drive a 1965 Chrysler Valiant AP6 built here in Australia and I love it. Now that’s how you stop pollution you keep your car and look after it.
I'm jealous
Exactly. The best thing for the environment is to do like our previous generations- keep your stuff and use it. Better for the wallet as well, which is probably why those old generations had money……
Luv’n the Valiants…!!! 👍😊💥
I’m going to keep my 20 y.o. Toyota Corolla until it absolutely falls apart.
the '78 Camaro in the driveway agrees. oldies but goodies...lol
MGUY telling us like it really is, these CEO's need to be Jailed.
Most of these start-ups are scammers disguising themselves to appear to look legitimate to bait in dumb “investors”.
Look closely and usually they have a string of failures behind them as well.
And that delicious ESG money.
The investors are fine with that, they need somewhere to launder their money.
That would not surprise me.
And mandate money from the government.
This is only one of the several reasons tax monies should not be going to private businesses for non-public works.
Australia should be developing it's own EV vehicle technology through the CSIRO
The whole company paying the CEO for the use of a private jet that the CEO owns for the CEO to fly around in seems like a very grey legal area.
I was also reading it that way.
I flew private jets for over 30 years, all around the world. There are legal ways for that type of interchange to be done. That being said, abuse was probably taking place here.
You can't fix stupid!
Not stupid - arrogant.
They laughing all the way to the bank.👹
Oh he’s not stupid!
Well you actually can, it just hurts a lot.
When you are an ECO freak you are already challenged.
physical or mental?
@@richardjohnson8009 Yes.
Autistic
@@richardjohnson8009both
How much of that “cash” (funding the private jet use - and probably a few fact finding trips for favoured politicians too) is tax payers money pushing the EV agenda by Government?
I guess the district attorney may not be overseeing the law properly? [try not to laugh]
US taxpayers subsidize pure-plug-in sales to the tune of $50k per unit.
Good question!!
More corpses: The German electric vehicle developer ElectricBrands has filed for insolvency as well
This is part of a capitalist system. Not every business will succeed. And it's OK. The same happened a 100 years ago. A shit load of ICE startups went bust.
The beauty of a startup automoblile company is that a lot of it gets stirred around and ends up spilling into the management's pockets. And the companies generally fail, taking the investor's money with them. Aviation companies are the same.
That's why if you want an EV, get one from VW,GM,FORD OR TESLA. Those companies are going nowhere.
Not only does it demonstrate hypocrisy and the fact they don't believe a word of the green lies but it also warrants a closer look into a dodgy sounding arrangement.
Scam and fraud!!! 😅😅😅😅
You can always tell when a company is in real trouble. The boss takes as much money as he can out of it into his own pocket.
and in asset's that can be registered elsewhere
My Dad never invested in a company that had a flagpole outside its HQ building.
Paying yourself for hiring your own plane???
Talk about creative accounting
I had a former employer who rented the office building from himself. They are all not to be trusted types.
Same as when using your own car for work and getting paid for each driven mile.
@@erik_dk842 Not the same at all. Fly commercial and hire a car at the destination.
@@erik_dk842not the same at all. If you use your own car, it’s because an employer doesn’t not give you a car to use. This guy has a private plane - not exactly a common asset to have.
@@xr6lad Just because YOU don't own a plane. The CEO decides how anyone in the company travels. YOU must travel as cheap as possible - HE travels as comfortably as possible. He only answers to the board of directors, which hires and fires him.
CEO's are board members in other companies, whose CEO's are board members in the other CEO's companies, and they all agree that they are worth huge salaries and bonus'es, regardless if the companies run at huge losses. Golden parachutes.
Well Simon mate this is so like what Albanese and Bowen did just recently as they visited the Hunter Valley region using two - yes TWO!! provide type jets and they have the bloody nerve to tell us to buy EV's!! The sooner they both and frankly all of the Labor shower of shite gets voted out the better!!
AMEN to that.
This is what's known as carbon -offsetting. We all have to drive crappy milk-floats so the car company owners can justify all their business jet usage.
He rented the jets from a company he owns. It's just a tax reduction method. In Australia, politicians in Canberra buy an appartment, then rent it to themselves using the $400 a day they get for 'accomodation expenses'. All perfectly legal (just totally amoral) and the taxpayers get to buy them an appartment.
Putting environmental concerns aside, this is purely a case of mismanagement. Canoo got a load of investor cash, CEO man saw all the cash and thought “Sweet! I’ll have some of that for a luxurious ego-boosting jet that I don’t need”. Watch for the company to fold and employees to be unpaid. Except CEO man, of course!
I'd be an environmentalist if only I could afford a private jet so I could go to the climate conferences.
This is the age of the Plausible-But-Bogus corporation , that looks just good enough to avoid fraud prosecution , but whose whole reason for existence is to handsomely pay the principals up front at the expense of the investors.
capitalism for the management class. Lets talk "stakeholder engagement " rather than shareholder feedback - that's when the rot started😂
It sounds like Canoo is up the river without a paddle. JMO
Without a Battery...
Hahahajajaja
Canoo - paddle - up the river, lol - somebody had to say it. Thanks for the laugh. Regards
Right on the nail Simon. This whole green thing is a sham.
It was the automotive companies that lobbyed the governments of the day to expand the road network and discontinue tram services in capital cities
It's still the auto companies trying to make money
SCAM
@@lucylovitt9583 I agree
You mean SCAM.
It got me thinking....I bet these EV CEO's secretly miss driving their ICE cars. I say they're hurting inside.
He probably has a Bentley and a Ferrari stashed somewhere.
From my understanding Elon Musk drives a Model S as daily, but really enjoys his McLaren GTR, and Jaguar E-Type
He is aiming to be a politician.
He's got the first qualification
To use a quaint British expression "Bent as a nine bob note"
He can join our illustrious Labor Party. Hand in hand with Albo
@@andymartinez767 and Bowen
Just have to laugh at the hypocrisy of it all!
Lots of companies do it. A local HiFi startup company here in the UK had salesmen, fancy offices, engineers, three directors all with PA's, all with cars of course, vast outlays for CNC machining of metalwork, consultants, etc but the product was over priced and not exactly great and was unreliable so they didn't sell at their extortionate prices with the result that 2 years after starting they had disappeared leaving me to try and fix badly designed and made junk that was supposed to be leaps ahead in its sound. Still, there are so few of them out there that its not really worth thinking about. Someone invested millions there and lost the lot.
How much of that "revenue" was subsidies from the taxpayers?
Can't expect an elite to fly commercial, can you? Besides, there's gotta be some subsidy or other taxpayer funding that'll cover it, no worries.
Zoom calls are somewhat less expensive
Let these people fly or drive their own products. Show us all how much better going full EV really is!
Could this be why EV proponents aren't taken seriously?
So when Delorean did basically the same thing, did that mean gas cars could not be taken seriously?
Isn’t it also that the guys company was paying his families company to rent the jet as well? It the company putting money into his own pockets!!
In 2025: private jet for sale -- bankruptcy sale.
Once again it's, 'rules for thee...'
The guy is worth about 300 million. He also has a tech company solera it seems that the ugly ev suv looking thing is just a front for tax perks.
Look at Rishi, ripping of the British, whilst telling us there's a climate crisis, like other in cahoots governments..
Talk about hypocrisy. Not only is the company paying to use a private jet, it's paying those fees to "Aquila Family Ventures", a corporation apparently controlled by the CEO himself !!
You hit the nail on the head….. the Green movement are full of hypocrisy and contradiction….
The world is full of lying hypocrites.
Apparently the plane also runs on batteries. It's never been able to take flight as the batteries wear down before it gets to the end of the runway. But they do have big plans as they resolve the technical issues.
They've started a new company called "Planoo", including an address where all the subsidies can be mailed to.
Anytime government throws money at a private enterprise, the piggies all rush to the trough for "Free money" . And they always spend it wisely.🥳🍾🛫🏎️. They appear to have a battery plant in the U.S that got some State freebies.... That's why he needs a jet.
But it's worker pay that causes inflation...
Nothing in business causes inflation, whether it be the workers or management. It is government spending more than it takes in that is the one and only cause of inflation.
Great reporting.
The criminal hypocrisy is amazing - just like Albo and ‘Casanova’ flying in different jets.
EV bus fire at ST Marys depot Sydney West. this morning .Looks like its been hushed up nothing on the news .Bus lithium batteries still on fire now
This CEO should run for office of a state attorney general. He’d be perfect!
Some things here: "Aquila" is the Spanish word for "eagle". So Tony the eagle flies in its own jet these days. Elon Musk has put his own jet to some stupidly short flights to avoid driving. I assume that he relishes the chance to avoid driving a Tesla?
This is what "corporations" and "manufacturers" are all about -- "making money." But the biggest question of them all is "WHO" is actually making any money. If you can get people to give you money to start a business, then you've passed the first obstacle with flying colors.
Kerry, our “Green Czar” has no problem flying around in his wife’s private jet.
For example Albo flying to a climate change conference in one RAAF lavish jet from Canberra...with Bowen also flying in another RAAF jet from there to the same venue arriving a half hour later at the same conference. This is hypocrisy and entitlement writ large. A disgraceful waste of taxpayers dollars.
he is channelling Albo and Blackout.
The elites seem to think they’re Teflon!
I saw similar in the 1980s. WWII vets had built up businesses and retired in the 1980s. They turned their businesses over to their children. The children then ignored Dad's way of doing things and became "modern". Basically, the economy was booming so they over paid themselves and got into debt. When the economy crashed in the late 1980s, they ended up bankrupt. Most businesses fail because of over reach. It was a real shame because the Dad's had been good to deal with. Their children were not. This was a good video. Good Luck, Rick
is this a criminal offence or merely a civil one?
Nothing illegal about it.
@@DouglasLippidepends on if the hire charges were way above market rates and it could be seen as a way of transferring money out of a business trading insolvent.
Having been involved in general aviation sales and charters, and later worked structuring business investment funds, we had a policy that no PPM ( Private Placement Memorandum) could include funding for private jets, as for the most private Jets were and extension of a CEO's or owner's ego.
Sounds like Canoo is up the creek without a paddle 😂
The arrogance and hypocrisy of these people is off the charts!
HYPOCRISY at it's FINEST
Windmills, solar power now EVs are the newest big con.
Right because no other successful industry ever had con-jobs sprouting up to cash in on the wave.
Oh you're so brilliant.
When the dust settles, they all looking out for number one....
The guy started an EV company to pay rent for his own private jet.
It's all about making money not about saving the planet . Follow the money .
He needed the jet so he doesn't have to fly in a tube full of demons
Rules for the masses versus the elites quite the Grand Canyon separation no?
There is a guy in UK called Dale Vince who went from being a hippy New Age traveller in the 1990's to billionaire green energy Wind Farm Industrialist. There is plenty of money in the green energy scam.
I'm betting there was a lot of government money invested, which they, in turn, claim they need more of to justify continuing to expand. I've seen this before with green diesel startups here: once the government money stops, they go broke. Edison Motors is trying to build a hybrid electric logging truck and has done so without any government investment because the government refused to invest in the startup. But it seems Edison Motors now has caught the government in a conflict of interest, which in turn has the government investigating Edison Motors. Catch the government doing corruption always seems to result in them charging you with trumped up crimes.
Don't leave out Elon
he bought a jet for $70 million
Except he has immense wealth and his companies are high revenue and high value enterprises
Look at Albo, he and his cronies fly everywhere
How do you know Albo flys everywhere? Are you privy to his travel itinerary. Also, politicians of all persuasions have been using the RAAF VIP Squadron since its inception about 60 years ago. This is just the price paid for democratic governance. I'm sure we can afford it, being a 2 trillion dollar economy. Politicians everywhere use aircraft to get around. Ho hum.
The advert played to me before this video was for the new Mercedes-Benz EV, think they totally picked the wrong audience for this advert!! 🤦🚙⚡🤣🤣
I suspect that the total of subsidies, grants, and CO2 credits > actual revenue.
Like most green things, they are subsidy farms.
I agree with everyone’s comments…👍👍👍
The COCQUE Conference...
It appears, that the Custom Denning, electric bus factory, at StMarys,may have burnt down last night.
Exclusion zone, makes confirmation difficult.
Not whole factory, a battery in the yard.
250m exclusion zone(actually closer to 2km) for 12 hours, due to chemical leakage. Fire crews monitoring site for further 12 hours.
Mguy,
Fair Point.
Real Shame Canoo can Not get it's Act Together.
I love your tone, your videos in general. My daughter would say "I know, dad, you are right but can you change the subject?".
By the way, my car has a battery too !!! (Ok, it's in the trunk/boot...). I am a hybrid octane 95/98.
Priceless! And some very dodgy related-party transactions as well.
You have to love "Green washing " 😂
Can't wait to see your aussie flooding report! Surprised its no out yet.
Great video, Simon.Thanks mate. Cheers from Canada 🇨🇦🇦🇺👍
The bit I picked up on is that the CEO owns the private jet company so effectively it’s more money from the EV company into his greedy pockets.
Further proof that these people have two sets of standards and expect you to follow their standard for you. They won't be getting a responce.
I am sure they got some ESG funding backing them, as well as government grants (our tax dollars) for their work at saving the climate.
Just the fact that they are renting the plane from the CEO's family business shows that they are grifters, no matter what the company was involved in.
This is your best video yet and I’ve watched them all.
Hypocrisy at its best.
Hey there’s nothing boring about accountancy, Mr lawyer!
(Keep producing the videos!)
As I sat in outside area of my local bakery I noticed a sooped up little car pull up adjacent to where I was sitting with some friends. This noisy little intrusion made it very difficult to continue the conversation. Hoping the occupants would simply turn off the motor and get out or move on, I noticed that the couple were on their phones completely oblivious to the disruption to the pleasant atmosphere created by the tree lined avenue. After about 5 minutes I decided to go over and ask them politely to turn the motor off. They ignored my request but seeing the reaction this elicited from other patrons of the establishment they revved the engine and drove off making as much of a scene as they could. Five minutes later they were back only this time the parking space had been occupied by another vehicle. After thinking about the incident, the thought occurred to me that there was something incongruous about the situation. The couple didn't look like the typical petrol heads you see around our sleepy little city but more like those you see being dragged off motorways or spraying artwork to make their point about saving the planet. Either way the ignorance is palpable.
I keep saying that EVs and net zero is a big scam. It’s good to see more and more people banding together to go against banning petrol and diesel vehicles.
Interesting to note that the name 'Canoo' is very similar to the name 'Cazoo' who also specialised in burning cash...
Bruh, do a story on Honda’s 4 cylinder turbo engine that won’t last past 60,000 miles due to planned obsolescence. Whilst some Teslas are past 500,000 miles on the original battery and almost zero maintenance.
I just love that where I am from it's either being powered by coal or nuclear.
I'm now sure I prefer the kitchen cupboards background! Anyway still good work. Cheers
He’s not just spending company money. He’s syphoning company money to his other family company before it goes bankrupt.
Nice catch. Thanks!
That CEO is certainly looking out for himself and his family airline company, more than the EV company. He's double dipping too.