Live on Bloomberg TV

00:00I used to be very negative on him as a person. You know I am in the sense that the like he lies a lot. And please don't push back on that because we could get into the examples. But so every now and then when I say that on TV somebody says like oh well if that were true then people would have sold the stock. It's like. Oh yeah. Think I'm dealing lock stock but. So what are the good things about Eli. He built the car. He built the rocket. And that is something that I think a lot of these a lot of these managements are not and the companies are not going to do you know like Lordstown Motors. All right. That seems that you know. I mean they at least to date the people who initially were with the company when an IPO. I think there are things several of them are gone and they were pretenders. We shorted a company earlier this year called Xcel Fleet which is in you know ostensibly the veal vehicle electrification space and. I mean we were just you know so we play you know I like to say this when we do something like this when we're looking at these tech you know these next generation green tech or whatever whatever hot technology is we play the man not the ball. Playing the ball would be the technology doesn't work. And you know let me get my scientist out here by the way our scientists arguing publicly with the company's scientists are scientists will always losing them in the minds of the long holders. But if you play the person OK you know what. Just what is this person's background. Look what are some of the egregious thing. What are some of the things that they've said that are really core to the thesis. And that if we scratch the surface. Oh my God. These are not true or these are massive exaggerations. So if we see exaggerations and misdirection and lies that are significant enough then we say OK. This is not Elon Musk. This is not a guy who's exaggerating but in the most fundamental important ways delivers. This is just you know basically the same kind of guy whose existence and stockmarket markets existed. A promoter who sells a dream that ultimately has no substance. So that's how we play it. And this does offer opportunities obviously for us to do it. But know it's pretty crazy when you look at like NIKKEI Club in Lordstown. I mean they still have these massive market caps. And that goes to this phenomenon. You know every now and then I joke that 700 million is the new zero. And actually you could say you know even something in the billions is the new zero. Mean these you know there all these companies that are really valueless that have real cap.

No schedule data available.

Carson Block on Elon Musk: 'He Lies a Lot'

Muddy Waters Capital CEO and CIO Carson Block says he used to be very negative about Elon Musk. He speaks during an interview with Bloomberg's Lisa Abramowicz at the Bloomberg Analyst Development Series event.

Bloomberg Technology
The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco. Hosted by Emily Chang.
More episodes and clips