For decades, Tesla has thrived because of Elon Musk's hype machine. That may finally be coming to an end

The article discusses the early days of Tesla, highlighting how Elon Musk showcased a rough prototype of the Model S to attract customer deposits and investments despite its unpreparedness. This tactic of hyping products reflects a common practice within Silicon Valley startups, where raising stakes is crucial for continued fundraising. Edward Niedermeyer, author of a detailed account on Tesla, argues that Musk's lack of industry experience and understanding led to a pattern of promises and hype, which became essential for Tesla's survival and growth in the competitive automotive market.

Musk "didn't understand the business he was getting into," says Edward Niedermeyer. "He had to come up with a big new hyped thing to raise the money to pay off the last promise. It got them on something very common for Silicon Valley startups, the fundraising treadmill."

Musk's role at the so-called Department of Government Efficiency is the latest example of raising the stakes, Niedermeyer says.

Read at Fast Company